PoW Mining Landscape Shifts: Scrypt Emerges as Top Contender in 2024
Scrypt has emerged as the most profitable proof-of-work (PoW) mining algorithm in 2024, surpassing Kheavyhash which held the top spot at the beginning of the year. Miners can leverage Scrypt to efficiently mine both Litecoin (LTC) and Dogecoin (DOGE).
Throughout the year, the mining landscape has seen significant shifts. SHA256, Bitcoin’s signature algorithm, has maintained a strong presence, while Blake3, used for mining Decred (DCR) and Alephium (ALPH), has risen in prominence.
The mining industry has witnessed remarkable growth in 2024. Litecoin’s hashrate reached an all-time high, and Dogecoin and Alephium also achieved record-breaking computational power. Bitcoin’s network also shattered its previous record, surpassing 805 exahash per second.
The evolving profitability landscape highlights the dynamic nature of the PoW ecosystem. With the continuous introduction of advanced mining hardware and the increasing network hashrates, the pursuit of efficiency will remain a key driver in the years to come.
Clever Robot News Desk 30th December 2024
