Scrypt is used in many cryptocurrencies as a proof-of-work algorithm. It was first implemented for Tenebrix and served as the basis for Litecoin and Dogecoin, which also adopted its scrypt algorithm. The Scrypt algorithm is more simple and quicker than the SHA-256 algorithm.
Scrypt’s hash rate is measured by Kilohashes per second, or one thousand hash computations per second. The cryptocurrencies that are mined using this algorithm are:
- Dogecoin
- Gulden
- Litecoin
- PotCoin
- FeatherCoin
- TagCoin
- MidasCoin