What is the difference between ZCash and Equihash?

The Equihash algorithm was designed to prevent ASIC mining centralization, leading to the Equihash algorithm often being referred to as ‘ASIC-resistant’. The Zcash algorithm curbs ASIC centralization by requiring that the generation of hash is memory intensive. This is because memory as a resource in computing, is expensive.

Is Ethereum ASIC resistant?

Ethereum (ETH): Ethereum is a popular example of an ASIC-resistant blockchain. The reason why Ethereum is ASIC resistant is because the network utilizes the Keccak-256 hashing algorithm, which rejects hashes from ASIC machines. The algorithm is designed so that it only produces hashes for mining purposes and serves no other computing function.

What is an ASIC and how does it work?

Short for the application-specific integrated circuit, ASIC is a microchip designed for a particular purpose, such as a transmission protocol. In the cryptocurrency space, ASICs are used for computing cryptographical puzzles, in particular, for mining new Bitcoins.

What are ASIC-resistant coins?

ASIC-resistant coins, as the name suggests, are cryptocurrencies with ASIC-resistant algorithms. Their ecosystem is built in a way that disables users to mine coins with ASIC machines. Therefore, mining these cryptocurrencies with ASICs is nearly impossible.