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Mining Litecoin on Amazon through better code


Briefly profitable alt coin mining on Amazon through better code Dave s Data

Source: http://da-data.blogspot.com/2013/12/brie...

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.

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I wonder how much of the world's compute cycles are going to be wasted on mining virtual currencies.

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