Review of Popular Hashing Algorithms

hashing algorithms

Recently, mining is a fairly popular form of earnings, but the vast majority of people who are just starting out on this path do not know much about the hardware. This is absolutely normal, since the nuances and junk of mining are a rather complex and extensive topic. Within the framework of this article, we will talk about such a concept as algorithms in the mining: what is it, what kinds of them are there and how do they differ from each other?

Content:
(please, click the topic to scroll down to it)

  1. What is the algorithm in mining?
  2. What algorithms are there and what are they?
  3. Conclusion

1. What is the algorithm in mining?

The development of an encryption algorithm is a rather laborious process, which is exclusively for specialists in the field of cryptography. So, in order to understand what an algorithm for mining is, let’s recall a little how the coins are arranged. Digital currencies are built on the basis of blockchain technology, which involves hashing of data in a chain of blocks. But directly the algorithm is responsible for decoding and reliability of the data.

The main task of the miners, for which they receive coins, is just the maintenance of the network in a given algorithm. There are several dozens of them.

But it is worth noting that to achieve reliability of the network, one encryption cannot be avoided. We’ll recall that the blockchain is built on the principles of equality, where each participant can make his entry to the register, so their reliability should be checked. For these purposes, the consensus algorithm is used. There are several, but by right the two most popular are:

  • PoW – proof of the work done;
  • PoS – evidence of a share.

2. What algorithms are there and what are they?

It should be noted that in the field of cryptography new discoveries occur every year, and accordingly new and more efficient encryption algorithms appear. Newer solutions often receive protection from specialized equipment for mining (ASICs). The fact is that with the help of this equipment (and with a decent start-up capital) you can take 50% of the processing power of the network and deprive it of the basic principle of cryptocurrency – decentralization. Unfortunately, the first coin comes to this edge closer and closer.

Within the framework of this material, we physically cannot describe all the algorithms of hashing, we just dwell on the main and most common ones on the market. So, let’s start:

  • SHA-256 is a pioneer in the market, as it is used to support the network of such a giant as Bitcoin. By the way, with normal video cards here (in the BTC network) you will not be able to mine anything, as the complexity of the network has long been adjusted to the industrial scale of specialized equipment. It is quite reliable and time-tested, for this reason it is still used both in various forks of the bitcoin and in other decentralized projects.
  • Scrypt is a very popular algorithm, because it built one of the most popular altcoins – Litecoin. It was fairly common and popular with the miners until there was no ASICs for it. Nowadays, this algorithm is not suitable for home mining.
  • X-11 is the main tool for the operation of one of the most anonymous cryptocurrency – Dash. Until last year, digital coins, which worked on the basis of this algorithm, had perfectly been mined with conventional video cards. The situation changed with the beginning of the release of the ASICs.
  • Cryptonight is the foundation for another anonymizer in the crypto-currency world – Monero. This algorithm is reliably protected from specialized equipment, so can be mined using ordinary CPUs and video cards.
  • Dagger Hashimoto (Ethash) is the main second coin in the industry. It is protected from ASICs, but recently rumors began to circulate about the release of special equipment for it. If they are confirmed, then it will make significant adjustments to the mining of the Ethereum.

3. Conclusion

In this article we have dealt with the basic algorithms of data encryption in the most popular cryptocurrencies. Since the industry is only at the initial stage of its development, literally every year there are new solutions for hashing data and achieving consensus within the blockchain.

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WordPress Launches Beta Version of Publishing Blockchain Platform

WordPress is planning to develop and launch a special publishing resource that will work on the blockchain technology. It is already known that the developers will call the platform Newspack. It will be free to post materials. The creators of the platform are confident that the use of blockchain in this case will affect the development of journalism.

The development of modern blockchain blogs

Now the developers are preparing the beta version of the platform for launch, which is planned for the middle of this year. However, anyone can already put the resource to the test. The feature of Newspack is that it will have its own version of CMS, which will allow editing content directly on blockchain. This will not affect CMS negatively, but vice versa will expand possibilities for ordinary users.

Until launch of the platform, the project will be financed by Automattic, and after all the users will be charged $ 1-2 thousand per month. There will also be a free version available, which will have limited functionality. The end of the platform development including the integration of all additions is scheduled till January 2020.

According to the information posted on the WordPress blog, Google will finance the platform, investing more than $ 1.2 million in its development. Civil Media’s progress is supposed to be used in order to use various plugins for CMS blockchain version.

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WWF Will Handle the Supply Chain with the Help of Blockchain

The Australian division of World Wildlife Fund has decided to integrate the blockchain technology into its supply chains in order to track down and store data on various kinds of food.

WWF partnered up with the company BCG Digital Ventures to create a blockchain-based platform called OpenSC and bring the plan into reality.

According to the official announcement of WWF Australia:

OpenSC enables businesses to track their products – anything from food to tissue paper – by adding a unique blockchain code at the product’s point of origin, such as the moment a fish is caught at sea.”

Moreover, OpenSC will allow its users to scan a special QR-code on the food they want to buy in order to see the information on a specific product: from its properties to how it traveled in the supply chain.

This is not the first time an organization or company of a global scale is turning to the blockchain technology. We remind you:

Ford Will Fight Child Labor in Africa Using Blockchain

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Ford Will Fight Child Labor in Africa Using Blockchain

According to the report made by Reuters, an American major car manufacturer Ford is partnering up with such giants as IBM, LG Chem and Huayou Cobalt to create a joint blockchain platform which will track down cobalt coming from Congo.

This project is aimed at helping children who are working at cobalt mines in Congo against their will and against any human rights.

The blockchain platform is going to analyze the supplies of cobalt coming from Congo to be later utilized to produce lithium-ion batteries (which can actually be found in Ford cars) and, if it is coming from mines where child labor is applied, make sure it never makes its way into the world market.

Moreover, the future plans in this direction involve using AI chemical analysis in order to identify cobalt from other metals in the supplies, since they often merge together naturally, making it impossible to distinguish between them.

This important step in fighting child labor in Africa has been in the making since the December of last year, however, the companies taking part in its implementation chose to keep it quiet until recently. The trials of the platform that will soon be conducted are going to track cobalt form Huayou mines to LG chemical plants and finally to Ford vehicles.

We remind you:

The UN Will Use Blockchain to Develop Healthcare in Africa

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Will NASA Be Using the Blockchain Technology?

The US National Aeronautics and Space Administration (NASA) is considering the blockchain hyperledger technology as a solution for the air traffic management.

According to a NASA researcher Ronald Reisman, blockchain could be crucial in dealing with security and privacy issues and prevent various kinds of cyber attacks, such as IP-spoofing.

The design innovation is the use of an open source permissioned blockchain framework to enable aircraft privacy and anonymity while providing a secure and efficient method for communication with Air Traffic Services, Operations Support, or other authorized entities,” he said.

Reisman is sure that NASA’s upcoming release, the Automatic Dependent Surveillance-Broadcast, which will be out next year, is not equipped sufficiently to protect all the data that needs to stay classified.

Blockchain, with its smart contracts technology, certificate authorization and many other unique features, could potentially solve all of issues mentioned above. However, it is still unclear whether NASA will follow the suggestion of its researcher.

We remind you:

The U.S. Department of Energy Is Going to Finance Blockchain-Based Projects

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New Useful Gadget or Promotional Trick: What Is the WT2 Plus Earphone Translator?

A language barrier is the main cause of disagreements and the reason why people of different nationalities cannot fully communicate. But, besides, a language barrier complicates the lives of many travel lovers. Soon this problem will fall into oblivion, as its solution was suggested by Timekettle company in the form of a new gadget WT2 Plus. Now this device is presented at the International Consumer Electronics Show CES-2019 in Las Vegas.

What is WT2 Plus?

This is a wireless earphone translator, which will become an integral gadget when traveling to foreign countries. The novelty caused a huge interest and made many people wonder: “What is the price of WT2 Plus?”. You can breathe a sigh of relief, because the answer is already there! The cost of WT2 Plus is $ 219.

Source: http://www.timekettle.co/

How does WT2 Plus work?

The earphones support Android and iOS operating platforms. They connect with a mobile device via Bluetooth using the application that allows users to set a language. At the moment, the application supports 20 languages, but in the near future the developers will add another 15.

The feature of the application for WT2 Plus is recognition of various accents. For example, the application supports 5 accents of English, including Australian English.

Direct use of portable earphones occurs as follows: in order both interlocutors can talk and hear each other, each puts one earphone from the kit on. When talking, the earphones transmit the sound to the smartphone for translation and transferring the translation back to the earphones. The delay in processing and transferring sound takes only 3-5 seconds, depending on a sentence size.

Even though the manufacturer emphasized the possibility of real-time translation as its main advantage, in fact the device is capable of translating only short phrases, the duration of which do not exceed 15 seconds. For example, the gadget can not be used for continuous translation of a film in a foreign language.

Regardless of the headphones’ being wireless, they will not catch environing phrases and translate them due to the built-in “Touch” mode, which allows you to use WT2 Plus in crowded places.

The earphones themselves are stored in a pocket-case that resembles Apple’s AirPods case. The earphones are charged from the case. Each earphone has a 110 mA battery, and the case battery capacity is 320 mA. Full charge of the earphones takes 90 minutes. The case works for two weeks without recharging, it is enough for two recharges of each earphone.

The manufacturer plans to increase the accuracy of the WT2 Plus translation to 95%. The translation requires access to the Internet, since it is carried out through Google and Microsoft cloud servers.

Gadget Hits and Misses of 2018

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China Toughened Rules For Blockchain Service Providers

The Chinese government is quite strict to the services that provide information which does not correspond to the rules and regulations of the country. Usually, such accounts or services are banned or some limitations are established.

This time China, namely the Cyberspace Administration of China (CAC), has forbidden blockchain services providers to distribute illegal content by publishing a set of blockchain regulations, named “Blockchain Information Service Management Regulations.”

According to these rules, blockchain providers do not have the right to “produce, duplicate, publish, [or] disseminate” information that is prohibited in China. They also need to register their companies in special agencies. Upon the registration, providers are to indicate their name, server addresses and service types. The services, which do not comply with the rules, will be fined from $737 to $4,420 depending on the severity of the offense.

Previously, the blockchain network was used by residents of China to evade censorship rules. For instance, the supporters of #MeToo movement have posted their stories on the Ethereum blockchain, so that they will not be deleted.

Another example is posted by Twitter user (nickname: @readkrystalhu):

In this regards, the Chinese authorities have made such a decision. No one knows whether it is for good or for bad. All we can be sure of is that censorship in China is extremely severe.

We remind you

Blockchain in China Is a Bubble? About 50% of Chinese Companies Failed To Present Operations Using DLT

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