Scrypt
Also known as: Memory-Hard Algorithm, Scrypt Mining, Litecoin Hashing Function
A memory-intensive hashing algorithm used as a consensus mechanism in several cryptocurrencies.
Scrypt is a cryptographic hashing algorithm designed to be computationally intensive and memory-hard, making it resistant to ASIC mining. It was introduced as an alternative to SHA-256 to promote fairer mining through CPU and GPU participation. Scrypt is best known for its use in Litecoin, Dogecoin, and other altcoins. Its design reduces the efficiency advantage of specialized hardware, encouraging broader decentralization in mining. While newer algorithms like Equihash and RandomX have emerged, Scrypt remains widely used in legacy proof-of-work networks.