Know All About X20 Algorithm: How It works
X20 is the latest hashing algorithm in the mining world of cryptocurrencies. It is the successor of previous algorithms like the X18, X17, X16 and so on, and developed with an aim of making blockchain hashing (block creation) faster, more secure and an affordable offering. Here’s how it works.
However, before elaborating the functioning of the X20, let’s first give you a brief idea of the earlier available crypto algorithms to figure out what prompted the development of the most advanced mining algorithm.
The Predecessor: X11 Algorithm
Let’s start with the X11 algorithm, it was developed and introduced by Evan Duffield which works as a proof-of-work (PoW) hashing function. The reason behind developing the X11 algorithm was to make GPU/CPU mining a more profitable affair which was easily obtained by increasing the time length for the creation of Application-Specific Integrated Circuits (ASICs) by using the more complex proof-of-work concept. Also, it aids in enhancing mining efficiency with GPUs and CPUs for beginners and small-time miners.
In terms of X20 algorithm, the working is all similar to its predecessors however the included hash functions here are 20 as against to 11, 12 or 18. This, in turns, increases security and conveys more profitability for miners using GPUs and CPUs in contrast to ASICs. Have a look at its working.
What is X20 Algorithm and How does it works?
In fact, the X20 algorithm uses 20 different hashing functions, namely BLAKE, BLUE MIDNIGHT WISH (BMW), Grøstl, JH, Keccak, Skein, Luffa and so on. Each function generates a new value or transaction which further produces a hash. Now, this hash is submitted to the next function and a more secure hash than earlier generated which further submit to the next function. And, the same process repeated for 20 times with 20 different hash functions in the algorithm.
The aspect of the X20 algorithm which can impress anyone is its speed and less use of resources. It produces more efficiency while consuming up to 50% less energy than traditional mining methods.
Pieta- it is one of the most popular blockchain mining platforms nowadays. it utilizes the X20 algorithm for token mining due to less energy consumption in the mining process. Following the 20 rounds of hashing, the X20 algorithm notably increases the transaction verification speed and ends up the risk of processor overloading or heating. The improvement in block creation speed is attained from limiting block size to 2MB and block creation time to 20 seconds. This, in turns, increases profitability for miners and protects our environment by consuming less energy.
Among other advantages, the Pieta X20 algorithm includes Low cost of mining due to less energy consumption, Faster and a lot cooler transactions, which in turns offer mining services at nearly zero transaction cost, and Periodic rewards distribution.