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Ethash

Give me the basics

Ethash is the proof-of-work hashing algorithm used by Ethereum and some other cryptocurrencies. It’s designed to be memory-hard, meaning that the amount of memory required to mine a block increases over time, making it harder for miners to use specialized hardware to gain an unfair advantage. Ethash uses a combination of a hash function and a random number called a nonce to generate a new block. The algorithm is designed to be ASIC-resistant, meaning it’s difficult to create specialized hardware that can mine Ethash more efficiently than a regular computer.

In-depth explanation

Ethash is a Proof-of-Work (PoW) hashing algorithm used in Ethereum blockchain. It’s designed to make mining more accessible to a wider range of people by preventing the use of expensive Application Specific Integrated Circuit (ASIC) mining hardware. Ethash is memory-hard, meaning it requires a large amount of memory to solve mathematical problems necessary for mining blocks. This approach creates a more democratic mining process by making it difficult for a single entity to dominate the mining process. Ethash algorithm is known for its efficiency, security, and resistance to ASIC miners, which helps to keep the network decentralized.