Cryptocurrency mining is a fundamental process for ensuring the security and functionality of blockchain networks. Depending on the digital currency, different mining algorithms are used, each with specific characteristics and hardware requirements. In this guide, we will explore the main mining algorithms and the cryptocurrencies that adopt them, along with their typical hash rates measured in MH/s, GH/s, or H/s.
Understanding Hash Rate Units
Hash rate is the measure of a miner’s computational power, indicating how many cryptographic calculations it can perform per second. It is measured in:
- H/s (Hashes per second): The basic unit, representing a single calculation per second.
- KH/s (Kilohashes per second): 1,000 hashes per second.
- MH/s (Megahashes per second): 1,000,000 hashes per second.
- GH/s (Gigahashes per second): 1,000,000,000 hashes per second.
- TH/s (Terahashes per second): 1,000,000,000,000 hashes per second.
- PH/s (Petahashes per second): 1,000,000,000,000,000 hashes per second.
The higher the hash rate, the more calculations a miner can perform, increasing the chances of solving the cryptographic puzzle and earning rewards.
1. Ethash ETHW (Ethash Ethereum PoW)
Used for EthereumPoW (ETHW), it is an Ethash-based algorithm designed to be ASIC-resistant and optimized for GPU mining.
- Typical Hash Rate: 30-60 MH/s (GPU dependent)
2. Ethash EXP (Ethash Expanse)
Adopted by Expanse (EXP), it is a variant of Ethash similar to Ethereum's but with slightly different parameters to fit the Expanse network.
- Typical Hash Rate: 30-60 MH/s (GPU dependent)
3. KawPoW RVN (KawPoW Ravencoin)
Used by Ravencoin (RVN), it is an algorithm that combines Proof-of-Work with higher ASIC resistance, optimized for GPU mining.
- Typical Hash Rate: 10-30 MH/s
4. RandomX XMR (RandomX Monero)
Designed for Monero (XMR), this algorithm is optimized for CPUs, making mining more decentralized and less dependent on specialized hardware.
- Typical Hash Rate: 5-15 KH/s (CPU dependent)
5. BeamHashIII BEAM
BeamHashIII is the algorithm adopted by Beam (BEAM), based on Equihash but with optimizations to ensure greater efficiency and security.
- Typical Hash Rate: 15-40 Sol/s
6. Ubqhash UBQ
Ubqhash is a variant of Ethash developed for Ubiq (UBQ), maintaining ASIC resistance and optimized for GPU mining.
- Typical Hash Rate: 30-60 MH/s
7. Etchash ETC
Used for Ethereum Classic (ETC), Etchash is a modified version of Ethash that reduces ASIC dependency and improves GPU performance.
- Typical Hash Rate: 30-60 MH/s
8. Autolykos2 ERG
Autolykos2 is the algorithm used by Ergo (ERG), designed to be ASIC-resistant and optimized for GPU mining with improved energy efficiency.
- Typical Hash Rate: 100-200 MH/s
9. KHeavyHash KAS
Algorithm adopted by Kaspa (KAS), designed to be highly parallel and efficient on modern GPUs.
- Typical Hash Rate: 1-3 GH/s
10. NexaPoW NEXA
NexaPoW is a specific algorithm for Nexa (NEXA), combining security and decentralization with energy efficiency.
- Typical Hash Rate: 500-2000 MH/s
11. Octopus CFX
Octopus is used by Conflux (CFX), optimized for GPUs and designed to resist ASICs while maintaining high performance.
- Typical Hash Rate: 10-40 MH/s
12. KawPoW XNA
A variant of KawPoW used for Neoxa (XNA), maintaining ASIC resistance and favoring GPU mining.
- Typical Hash Rate: 10-30 MH/s
13. KawPoW CLORE
Adopted by Clore (CLORE), this algorithm follows the same philosophy as KawPoW, optimizing GPU mining.
- Typical Hash Rate: 10-30 MH/s
14. Blake3 ALPH
Blake3 is a high-speed algorithm used by Alephium (ALPH), designed to maximize efficiency and security.
- Typical Hash Rate: 1-3 GH/s
15. FishHash IRON
FishHash is the algorithm adopted by IronFish (IRON), optimized for ASIC resistance and decentralized mining.
- Typical Hash Rate: 50-200 MH/s
16. XelishHashV2 XEL
Used for XEL (XEL), this algorithm is designed to improve mining security and efficiency.
- Typical Hash Rate: 5-15 MH/s
17. PyrinHashV2 PYI
Adopted by Pyrin (PYI), it is an innovative algorithm aimed at improving GPU mining efficiency.
- Typical Hash Rate: 50-200 MH/s
18. KarlsenHashV2 KLS
Developed for Karlsen (KLS), this algorithm focuses on security and ASIC resistance.
- Typical Hash Rate: 100-300 MH/s
19. Autolykos2 BLOCX
A variant of Autolykos2, specifically optimized for BLOCX, with improvements in energy efficiency.
- Typical Hash Rate: 100-200 MH/s
Each mining algorithm has unique characteristics that make it suitable for specific hardware and cryptocurrencies. Understanding the differences between these algorithms helps miners choose the best asset to mine based on their resources and strategies.