When it comes to mining, I'm more or less aware of how Bitcoin's simple SHA256 mining works, how Litecoin & similar attempted (and failed) to introduce ASIC-resistance with Scrypt, and how Ethereum seemingly managed to do it with ETHASH and its huge DAG. I've heard, though, that new coins aren't really using ETHASH variants, and there are many interesting alternatives floating around. To organize those in a single place, can anyone:

Define the main high-level characteristics of existing mining algorithms?

Explain how they compare with Ethereum's mining algorithm?

  • I don't think this is focused enough on Ethereum to make it a valid question in this forum - most of the answer would be taken up describing technologies that Ethereum doesn't use, and never will. It also comes across as a little loaded: "How much better are the state-of-the-art algorithms when compared to crappy old Ethash?" :-) To anyone reading who doesn't know about the future move to Proof of Stake - when there will be no mining - they might wrongly think that Ethereum is based on old technology. – Richard Horrocks Mar 27 '17 at 20:15
  • Hello Richard, I have to disagree with your comment. If there are better algorithms around, it is really desirable that this knowledge his hosted on this community, as it is relevant to people: 1. building altcoin-Ethereum-bridges; 2. building Ethereum sidechains; 3. wondering if we should eventually update the protocol (why not?); 4. making statistics, charts, etc.; 5. just wanting to learn. I honestly hope Ethereum becomes the homeland for any blockchain-tech related discussions, even if a specific technique isn't currently used on the core protocol. – MaiaVictor Mar 27 '17 at 20:20
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    No problem - happy to be disagreed with :-) I'll leave things for others to answer as they see fit. – Richard Horrocks Mar 28 '17 at 14:27

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