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glossary

Definitions and terminology related to cryptoeconomics, blockchain and distributed ledger technology.
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Scrypt

Scrypt is a hashing algorithm used in many cryptocurrencies as Proof of Work (Bitcoin uses SHA-256). Scrypt was first used in the now defunct altcoin tenebrix, and adopted in Litecoin soon thereafter. Scrypt is a memory intensive algorithm and makes it harder to design ASICs for mining. Even if ASICs are available, their advantage is usually smaller than in SHA-256.