Mining Litecoin on Amazon through better code
J Thoendell stashed this in Cryptocurrency
As I explored, I discovered Litecoin, an alternative to Bitcoin that is designed to reduce the comparative advantage of using custom ASICs (or GPUs) for mining it relative to using a conventional CPU. Its future is even less certain that BTC, of course, as a later comer, but the technically interesting bits lie in its proof-of-work hash function: Scrypt. Scrypt is designed to be "memory-hard" in addition to being computationally hard.
Stashed in: Bitcoin
I wonder how much of the world's compute cycles are going to be wasted on mining virtual currencies.