Cryptionary

Ethash

ethhash

1. basic

Ethash is the Proof-of-Work (PoW) hashing algorithm used by Ethereum (ETH). It was specifically designed for Ethereum and is intended to be ASIC-resistant and memory-intensive. This design aims to prevent the centralization of mining power and keep Ethereum mining accessible to more participants.

1.1

"Ethash's ASIC resistance means that Ethereum can be efficiently mined using consumer-grade GPUs."

2. technical

Technically, Ethash is a derivative of the Dagger-Hashimoto Algorithm. It requires a lot of memory to perform, making it inefficient for ASICs, which are hardware systems designed for efficient and fast mining. This memory-hard property of Ethash is what makes it ASIC-resistant.

2.1

"The memory-hard nature of Ethash is designed to level the playing field between different types of hardware, making Ethereum mining more decentralized."

3. future

It's important to note that Ethereum plans to transition from PoW to Proof-of-Stake (PoS) with the Ethereum 2.0 upgrade. This will make Ethash obsolete for Ethereum, as PoS does not require miners to solve complex mathematical problems.

3.1

"With the upcoming Ethereum 2.0 upgrade, Ethereum will transition from Ethash to a Proof-of-Stake consensus mechanism."

* All terms and definitions may update as the Cryptionary improves.

All terms

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