CryptoNote is an open informant technology and an application layer protocol. This engineering is what powers many decentralized privacy based cryptocurrencies. Some of the democratic coins that are based on this technology are Monero, Bytecoin, AEON, Electroneum and SumoKoin. apart from these there are 100s of cryptocurrencies presently using this framework. CryptoNote aims to solve problems outlined in Bitcoin and all coins based on this engineering have one thing in common. They are fasten, private, untraceable and fungible .
Unlike Bitcoin, the transactions of CryptoNote coins can not be inspected or followed through the Blockchain. You can not reveal the origin, finish, or the actual sum used in a transaction. Apart from providing true anonymity, untraceable payments and unlinkable transactions ; CryptoNote coins are known to provide honest and egalitarian mining. The hash algorithm which CryptoNote employs is called CryptoNight ( default PoW hashish affair of CryptoNote ). It is designed to be suitable for mining using ordinary personal computer CPU ’ mho and GPUs. But this is not the case anymore as there are many special purpose devices available for mining CryptoNight algorithm. So what is CryptoNight and what are the coins based on this algorithm ( original / ASIC ) ?
CryptoNight is a proof of Work hashing algorithm designed to accommodate CPU and GPU mining while at the same time resisting ASICs ( Application Specific Integrated Circuits ). This algorithm was primitively implemented in the CryptoNote protocol and it was basically designed to be inefficiently computable on FPGA / ASIC architectures. It is a memory hard hash algorithm and it runs in a trailer truck random routine. The main aspect of CryptoNight algorithm is to provide egalitarian terms for all users mining it. This means it keeps the mining distributed rather than about centralized. early benefits of CryptoNight includes fast, stable, secure and less heat of the processors and graphic cards compared to early mining algorithms.
The CryptoNight algorithm relies on Random Access Memory ( RAM ). It functions by requiring access to memory and this is the reason for the increase colony on reaction time. Before each fresh block is added to the network, all previous blocks are considered. besides this algorithm demands about 2 MB per example which is the minimum L3 hoard size of most modern processors. This algorithm works in such a means that it allocates big parry of data to RAM with an unpredictable succession in it. now ASICs are proven to be inadequate as they are limited by the number of calculations they can perform since they do not have the memory functions build into them. This is to the disadvantage of GPUs and CPUs as they have memory functions build in and they are adequate to of running hundreds of coincident instances .
For more technical details on CryptoNight take a look at the under radio link which explains scrape pad low-level formatting, memory intemperate loop and other technical foul aspects .
CryptoNight whitepaper : hypertext transfer protocol : //cryptonote.org/cns/cns008.txt
CryptoNight ASIC miner
Cryptocurrencies such as Monero, Bytecoin, Electroneum forked CryptoNote and chose CryptoNight as their proof of Work algorithm due to the fact that it allows more egalitarian mining. It is designed to resist ASIC and make CPU and GPU mining equally efficient. This alone made the coin accessible to everyone and moreover it was easy for beginners to use.
back then CryptoNight was lone mineable using CPUs. Later GPUs arrived but CPUs inactive performed good. But that was only until ASICs appeared. presently there are many specialized hardware devices available for mining CryptoNight algorithm and its coins. It is proven to be most effective and due to this mine this algorithm using CPUs or GPUs are no longer feasible. very well ! But what about coins that chose this algorithm ?
Coins that chose CryptoNight
Monero, one of the top cryptocurrency that promised to remain CPU and GPU friendly forked right after the appearance of ASICs. not barely once but to far solidify ASIC resistance they keep upgrading the network every 6 months. For exemplar on October 2018, Monero forked to implement CryptoNight v8 and on March 2019, they implemented CryptoNight R. This is a modify adaptation of original CryptoNight algorithm and it doesn ’ thyroxine allow ASIC mining. not merely Monero but most of the CryptoNote coins used Monero ’ s PoW algorithm in opposition to ASICs. In summation to that many other coins implemented a unique version of CryptoNight algorithm to allow CPU and GPU miners .
But on the other hand Bytecoin, Electroneum and few others stayed on CryptoNight original ( standard CryptoNight ) supporting ASIC mining. besides few coins namely Monero Original, Monero Classic forked Monero ( XMR ) specifically for this reason. Why and what is the cause for these coins to stay on original CryptoNight algorithm ? 1. Providing support for ASIC is the lone means for people to get the money rear from the investment they made on Antminer X3 and other CryptoNight ASICs. 2. incompetence. For exercise Electroneum ( ETN ) whose master campaign is to be able to mine on mobile. But they failed miserably. Following the badly implemented crotch to CryptoNight v7 they changed the PoW back to Original CryptoNight algorithm .
okay ! Let ’ s now take a attend at the list of coins based on CryptoNight .
CryptoNight coins (Original ASIC algorithm)
There are more than 100s of Cryptocurrencies based on this algorithm. Many of them are abandoned or about dead now. other coins that seem to be slightly active are plainly a fork and have no veridical value. So listing those coins are completely useless. here we ’ ll entirely list coins that are active and have a fair sum of deal bulk.
Note: The follow currencies are based on standard CryptoNight which is only mineable using ASIC. If you are looking for coins to mine using GPU or CPU then this number is not for you .
- Bytecoin (BCN)
- Electroneum (ETN)
- Dero (DERO)
- Karbo (KRB)
- SumoKoin (SUMO)
- Monero Classic (XMC)
The above list is not done so far. It will be updated whenever we find a coin using this algorithm but alone if they are active. besides if you know any other popular coins using this algorithm then do drop it in the comments below .