SHA256 is the algorithm that is the basis for mining the first cryptocurrency - Bitcoin. Only specialized ones are used for its use device ASIC (ASICs).
Currently, new SHA256 cryptocurrencies are constantly being created. Many such coins are worthy of attention, but a large number of them are scams. This is confirmed by the fact that they do not have an official website or community. This article lists all SHA256 coins. The history of the SHA256 algorithm It should be noted that this is a second-generation algorithm created on the basis of its predecessor - SHA-1, which was developed in 1995 exclusively for civilian use.
An updated version of the popular algorithm was created by employees of the National Security Agency in 2002. Three years later, a patent appeared allowing the algorithm to be used for civilian purposes. The third version of the popular mechanism appeared in 2012, experts from the National Standards Agency worked on its development. Over time, SHA-3 fully replaced its predecessors. Decoding the transformed data is not possible because the hash value is not considered an encryption process in clasicas an interpretation of this process.
A one-way encryption algorithm processes an unlimited amount of information. It is worth noting that all existing versions of the Secure Hashing Algorithm were created according to the Merkle-Damgård principle: information is divided into equal categories. Each group is subjected to one-sided compression, which significantly reduces the length of the data.
This method of encryption has many advantages:
• data compression is performed operationally;
• the conversion process cannot be undone without keys;
• the probability of collisions is reduced to zero.
The encryption technology of the SHA-256 protocol is based on a relatively simple cyclic algorithm. This algorithm consists of 64 cycles in which words are encrypted. The size of each block is 64 bytes and the maximum length of the encrypted code is 33 bytes. The parameters for the message digest are 32 bytes and the word size is usually 4 bytes. The algorithm reaches a speed of 140 Mbit/s.
As mentioned, the SHA-256 protocol is based on the Merkle-Damgard concept. This means that first the data is divided into blocks and then into individual words. The data goes through 64 or 80 cycles, each cycle performing a block of word transformation. The resulting hash code is generated by adding the original values.
Technical parameters of the SHA-256 protocol
Since it is a technically demanding protocol, it is important to know its main technical parameters. These parameters are listed below:
Block size: 64 bytes Maximum code length: 33 bytes Message digest parameters: 32 bytes Word size: 4 bytes Number of cycles: 64 Algorithm speed: 140 Mbit/s
SHA256 coins
Here is a list of popular cryptocurrencies for SHA256 mining.
We ranked them based on popularity and network hashing performance. You can find the full list here.
| slim |
websites |
pool |
| Bitcoin (BTC) | bitcoin.org | pole.btc.com
F2Pool antpool.com |
| Bitcoin Cash (BCH) | bitcoincash.org | BTC.com
bitcoin.com |
| Bitcoin SV (BSV) | bitcoinsv.io | emcd.io
viabtc.com |
| DigiByte (DGB) | digibyte.io | F2Pool |
| Syscoin (SYS) | syscoin.org | mining-dutch.nl |
| Namecoin (NMC) | namecoin.org | F2 pool |
| Peer Coin (PPC) | peercoin.net | ZPOOL
Zergpool |
Advantages and disadvantages of the algorithm The main advantage of the SHA256 algorithm is its demand. You can say it a hundred times that this protocol is morally obsolete, but so what? Let SHA256 not be very aesthetic, but it is cheap, reliable and practical. However, there are also disadvantages. Above all, it is a gradual loss of decentralization. Industrial companies controlled huge data centers and large sums of virtual coins, while small miners were left with crumbs. Alternative crypto projects are taking measures against dominance ASICů, but in SHA256 everything goes at its own pace.
Very low 24 hour trading volume and are very difficult to sell on exchanges. These cryptocurrencies include
Litecoin Cash (LCC),
Bitcoin Classic (BXC),
Elastos (ELA),
Auroracoin (AUR),
Bitcoin Vault (BTCIN),
Super Bitcoin (SBTC),
Pyrk (PYRK),
EmerCoin (EMC),
HTMLCOIN (HTML),
Terracoin (TRC) and Myriad (XMY).
The SHA256 algorithm has many advantages, such as its high demand. Although this protocol may appear to be morally obsolete, it still remains cheap, reliable and practical. However, there are also some disadvantages, such as the gradual loss of decentralization. Large industrial companies control huge data centers and large amounts of virtual coins, while small miners only receive a pittance. Alternative cryptocurrencies are taking action against dominance ASICů, but in the SHA256 algorithm everything is still mostly in the hands of industrial players.
