Optimizing Crypto Mining with AI technology

Scrypt is a proof-of-work algorithm used for mining various cryptocurrencies. It was first used for Tenebrix and later served as the basis for Litecoin and Dogecoin, which adopted the algorithm. Mining of cryptocurrencies that use this algorithm is often performed on graphics processing units (GPUs), since GPUs tend to have substantially more processing power compared to CPUs. This led to shortages of high end GPUs due to the rising price of these currencies in the months of November and December 2013.

SHA256 is the Proof-of-Work (PoW) algorithm used in Bitcoin mining. This algorithm is a consensus mechanism that validates transactions and prevents double-spending. Miners gather unconfirmed transactions to create a new block and construct a block header including the previous block's hash. Mining protocols then repeatedly perform the SHA256 hash on the block header, adjusting the nonce until they find a hash that meets the target difficulty. Upon finding a valid hash, the miner broadcasts it, other nodes verify it, and if accepted, the new block is added to the blockchain, rewarding the miner with newly minted bitcoins and transaction fees. To enhance security, Bitcoin uses a double SHA256 hashing process for transactions and blocks, recalculating the hash twice to prevent vulnerabilities like the length extension attack.

X11 algorithm was developed in 2014 by Evan Duffield, the main developer of the Darkcoin (later Dash). This algorithm is aimed to protect cryptocurrencies from specialized mining devices of ASICs, which are considered to be the 'killers' of decentralization.

Keccak, or SHA3, is a cryptographic mechanism that was created by a number of developers. This algorithm offers the best and most upgraded security compared to older SHA1 and SHA2 hash functions. On the other hand, the algorithm is used for other functions as well. The creation of this algorithm took place after NIST's announcement of a public competition and testing procedure for a new cryptographic hash function capable of overcoming the possible weaknesses of the prior SHA-1 and SHA-2.

BLAKE2 is a cryptographic hash function that surpasses the speed of MD5, SHA-1, SHA-2, and SHA-3 while maintaining security on par with SHA-3. Widely adopted for its speed, security, and simplicity, BLAKE2 is adopted for its efficiency. BLAKE2 comes in two forms: BLAKE2b, optimized for 64-bit platforms including NEON-enabled ARMs, and BLAKE2s, suited for 8- to 32-bit platforms, both capable of producing variable-length digests. It includes parallel versions like BLAKE2bp and BLAKE2sp for enhanced performance on multicore or SIMD CPUs, offering flexible options for keyed hashing, salted hashes, and tree-hashing.