Ethash is the proof-of-work function in Ethereum-based blockchain currencies. It uses Keccak, a hash function eventually standardized to SHA-3. These two are different, and should not be confused. Since version 1.0, Ethash has been designed to be ASIC-resistant via memory-hardness (harder to implement in special ASIC chips) and easily verifiable.

It also uses a slightly modified version of earlier Dagger and Hashimoto hashes to remove computational overhead.

Previously referred to as Dagger-Hashimoto, the Ethash function has evolved over time. Ethash uses an initial 1 GB dataset known as the Ethash DAG and a 16 MB cache for light clients to hold. These are regenerated every 30,000 blocks, known as an epoch. Miners grab slices of the DAG to generate mix-hashes using transaction and receipt data, along with a cryptographic nonce to generate a hash below a dynamic target difficulty.

X11 algorithm was developed by Dash developers and its called a Proof-of-Work. The algorithm was based on multiple rounds of different hashes (blake, bmw, groestl, jh, keccak, skein, luffa, cubehash, shavite, simd, echo) by making it one of the safest cryptocurrency in existence.

The cryptocurrencies that are mined using this algorithm are:

• MonetaryUnit
• Karmacoin
• StartCoin
• Dash
• XCurrency

It is an altcoin that was forked from the Bitcoin protocol. The currency permits fast transactions that can be untraceable. 45% of mined coins go to miners, 45% to masternodes, and 10% into a fund that the DAO invests.

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