Crypto coin algorithm list

Bitcoin uses the SHA-256 hash algorithm . This algorithm generates verifiably random numbers in a way that requires a predictable amount of computer processing power.

The algorithm acts as security for a cryptocurrency by making unwanted actions costly and ensuring the intended outcome (the addition of only genuine, valid transactions to the blockchain) always occurs . So what work must be performed? Essentially the miner is required to solve a mathematical puzzle of some kind.

The working principle of HEX is to calculate the block hash with a pseudo-random sequence of 16 different algorithms: BLAKE, BMW, GROESTL, JH, KECCAK, SKEIN, LUFFA, CUBEHASH, SHAVITE, SIMD, ECHO, HAMSI, FUGUE, SHABAL, WHIRLPOOL, SHA2.

In fact, for many, it is almost impossible to trade cryptocurrencies without some type of automation of the process. Because of this, it can be said that about 60, or even 70 percent of crypto trading is algorithmic and connected to automation .