Fundamentals

The Basics of Cryptonight

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If you’re new to mining Cryptonight, there are a few important things you should know:

There are two versions of Cryptonight

Bitmain is well-known for producing ASICs for mining Bitcoin and Litecoin. Recently, Bitmain produced Application-Specific Integrated Circuits (ASICs) for mining Cryptonight. ASICs were built solely for the purpose of more efficient mining. They greatly increase the difficulty of mining coins, as they are usually much more powerful than regular GPUs and CPUs. The Cryptonight community wasn’t happy with the introduction of ASIC miners. So they decided to edit the algorithm, and they spawned another version called Cryptonight V7, which is resistant to ASICs. Subsequently, most Cryptonight coins are currently using the new V7 algorithm, or they’re planning a hard fork to start using it soon.

Cryptonight isn’t just for GPUs

Most mining algorithms are either GPU- or CPU-friendly, but not both. But Cryptonight can be profitable on both a GPU and CPU, which makes Cryptonight mining rigs more efficient. In most other mining rigs, the CPU is usually just a waste of space.

 

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2 Replies to “The Basics of Cryptonight

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