Equihash is a memory-oriented Proof-of-Work algorithm used by many cryptocurrencies, such as Zcash and Bitcoin Gold, to secure their networks. It is designed to be ASIC-resistant, meaning that it is difficult to create specialized hardware to mine Equihash coins.
Equihash is a proof-of-work algorithm that is used to secure the Bitcoin and Zcash blockchains. It was developed by Alex Biryukov and Dmitry Khovratovich at the University of Luxembourg in 2016. The algorithm is designed to be memory-hard, meaning that it requires a large amount of memory to compute. This makes it difficult for attackers to use specialized hardware to gain an advantage over the network.
Equihash is based on the Generalized Birthday Problem, which is a mathematical problem that involves finding collisions in a set of data. In the context of Equihash, the problem is to find two different inputs that produce the same output. This is done by hashing a set of data and then comparing the results. If two different inputs produce the same output, then a collision has been found.
The Equihash algorithm is designed to be ASIC-resistant, meaning that it is difficult for specialized hardware to gain an advantage over the network. This is because the algorithm requires a large amount of memory to compute, which makes it difficult for ASICs to be cost-effective.
The algorithm is also designed to be resistant to parallelization, meaning that it is difficult for attackers to use multiple computers to gain an advantage over the network. This is because the algorithm requires a large amount of memory to compute, which makes it difficult for attackers to use multiple computers to gain an advantage.
Equihash is used by both Bitcoin and Zcash to secure their blockchains. It is designed to be secure, ASIC-resistant, and resistant to parallelization. This makes it difficult for attackers to gain an advantage over the network, which helps to ensure the security of the blockchain.