Introducing the New Alephium algorithm on NiceHash
Dear NiceHash Community,
We are excited to announce the introduction of a new algorithm on NiceHash! Effective immediately, you have the ability to mine or purchase hashpower for the Alephium algorithm, which is utilized for mining Alephium.
For Hashing Power Sellers (Miners)
If you are utilizing third-party mining software, you can now connect to Alephium with the following settings:
Tested and supported 3rd party miner:
- LolMiner
As of the initial release, our in-house developed mining solutions do not yet support the Alephium algorithm.
However, we anticipate that Excavator will integrate support within the next few weeks, with subsequent support planned for QuickMiner, NiceHash Miner, and NiceHash OS.
For Hashing Power Buyers
Alephium is now supported on our stratum servers and available for purchase on our hashpower marketplace. This enables you to mine the Alephium coin effectively.
Take advantage of acquiring coins that have not yet made it to major exchanges by utilizing the NiceHash Marketplace. If you are new to hashpower purchasing on NiceHash, begin by reading our comprehensive guide.
About Alephium Network
Steering away from the prevalent technical compromises in the industry, Alephium delivers an entirely novel landscape for tokens, smart contracts, and decentralized applications (dApps).
By merging its own innovations with the strengths of existing models, Alephium positions itself as a tangible response to the persistent challenges of blockchain.
Scalability:
Current scalability solutions impose unacceptable trade-offs on decentralization and user experience. Alephium is built on a novel sharding algorithm called BlockFlow. It leverages a stateful UTXO model and DAG data structure to deliver efficient and practical sharding.
This enables Alephium to natively support more than 10,000 transactions per second while preserving a seamless “'single-chain” user experience.
Smart contracts & dApps security:
Smart contracts and dApps predominantly relies on EVM-compatible or account-based environments, inheriting vulnerabilities that have led to repeated multi-million-dollar hacks .
By creating a new VM, specifically designed to take advantage of sUTXO’s strengths, Alephium eliminates most of these attacks vectors (reentrancy attack, unlimited authorization, double dip issue, flash loan, etc) and pioneers entirely new possibilities for smart contracts, dApps and tokens such as trustless P2P smart contracts transactions, 1st class citizen tokens.
Decentralization & energy consumption:
Alephium’s Proof of Less Work is a simpler, more consistent and robust consensus mechanism for achieving decentralization while reducing the energy consumption by over 87% compared to the “classic” Proof Of Work.
On Alephium, anyone can run a full node and verify on-chain data, embodying the principle of 'Don't trust, verify’.
Check out their whitepapers, website, documentation & wallets to learn more. Join their community on Twitter, Discord & Telegram.
Connect with NiceHash on Discord, Telegram, and Reddit
for additional information and to engage in community discussions.