Many people are already starting to wonder what the next “hot” mining algorithm will be for crypto currencies, after the Scrypt ASIC’s have been launched. To clarify, by Scrypt ASIC’s, I mean single devices pulling over 25 mhash/s, not GridSeed miners.
There are several candidates out there, so here’s my list of possible contenders :
Scrypt-N : An interesting algorithm. It requires a lot more memory than Scrypt mining, depending on the N-factor. GPU mining becomes less and less profitable as N-factor increases, so not a long-term contender in my book.
Scrypt-Jane : a real b*tch of a mining algo. GPU mining profitability can decrease by 50% , and keep on decreasing by 50% every so often. A good algorithm, but from my experience, only profitable to mine on coin launches.
SHA-3 Keccak : We’ve seen this with MaxCoin. It’s an interesting algorithm, a lot of people jump on it, and it works pretty well. Depending on how fast the coin difficulty rises, this can also become unprofitable rather quickly.
X11 : I really love this algorithm at the moment. I’m squeezing 2.15 Mhash/s out of both my GPU’s, which run at 55°c with fans at 31%. Not as memory intensive, and also using slightly less electricity by the looks of it. Still pretty profitable after longer periods of time (currently mining HiroCoin).
I’m sure we will see new mining algorithms pop up over time, but this is the shortlist for me personally. If you have any other algorithms you would like to add, feel free to leave a comment below!