Scrypt
By CoinGecko | Updated on Mar 03, 2020
In cryptography, scrypt (pronounced "ess crypto) is a an algoritm used in some proof-of-work cryptocurrencies. The algorithm was specifically designed to be computationally harder to mine by requiring large amounts of memory
Related Terms
Impermanent Loss
Temporary loss of funds due to volatility leading to divergence in price between token pairs provided by liquidity providers.
Unspent Transaction Output
(abbv. "UTXO") Coins that are unspent in the wallet. UTXO virtually represents the cryptocurrency one own in the wallet.
Nonce
Abbreviation for ‘number only used once’ It is of vital importance next to the hash in the verification of data from the Bitcoin blockchain network.
Mining
It is the process of the miners verify and adding transaction recors into a block.
Hungry for more knowledge?
Back to Glossary or Subscribe to our newsletter.