Dash is the contraction of the words Digital and Cash, which means “digital money” in Spanish, Dash is the cryptocurrency that emerged in 2014 with the name Xcoin and later in 2015, it would adopt the name it currently owns. Dash is a cryptocurrency with the original code of Bitcoin, with a proposal to make improvements to the Satoshi coin, basically in two aspects: in anonymity and in the speed of its transactions. In Dash there is an algorithm called X11, it consists of a chain that makes use of 11 cryptographic algorithms for proof of work.

X11 is the name given to the mining algorithm chained to the proof of work (POW) introduced by Dash in January 2014. X11 is considered a powerful and highly secure algorithm worldwide, it was designed on the basis of using the sequence of different Dash functions, with a single purpose: to give the highest possible security for cryptocurrency mining.

What is an algorithm?

In terms of mathematics, computing, and other disciplines, it is an ordered set of rules or defined instructions, which allows calculations, data processing, and finding a solution to a type of problem, in addition to carrying out other related tasks or activities.

X11 algorithm

It is an algorithm that consists of a group of 11 different hashing functions, which when grouped together work as a mining algorithm. For this reason, X11 is considered a highly secure mining algorithm concerning others existing on the Blockchain. This algorithm differs from the others known on the network, such as SHA-256 (which is the Bitcoin algorithm), or Scrypt, and is that X11 is not only a mining algorithm with a single hash function, as it also collects 11 different hash functions that are used in a specific order and that result in the final hash of a block.

The origin of X11

Its origin goes back to 2014, when the developer Evan Duffield, made the presentation of his cryptocurrency project called Darkcoin (what we know today simply as Dash). Duffield in his whitepaper clarified that his project sought to overcome some considerable flaws within Bitcoin, especially regarding the lack of scalability, better privacy, and more anonymity natively and resistance to the ASIC, and thus avoid the centralization of mining.

Evan Duffield’s project aroused curiosity within the crypto community, especially about anonymity, and especially the mining algorithm, something that had not yet been seen, especially due to its structure. That is the reason why many members of the community devoted themselves to the real study of its possibilities, resulting in new algorithms such as X13 and X17, which follow the same operating scheme, but with more functions to be able to carry out their work.

How does the X11 algorithm work?

The hash functions used by the X11 algorithm are Blake, Blue Mid-Wish (BMW), Groestl, JH, Keccak (gave rise to SHA-3), Skein, Luffa, Cubehash, SHAvite-3, Simd, and Echo. These algorithms are used in the same order as they are presented, and the idea is that the miner starts the generation of a Block ID or block hash. It starts with the first hash, that is Blake, and ends with Echo.

What it does is generate the first hash with Blake, taking into account the degree of difficulty of the mining system and the target. After generating this first hash and the heaviest proof of work (POW) work, this new hash is taken, applying the rest of the hash functions so that said hash changes. In this way, each time a new hash function is applied, a different hash is generated, and this hash is taken and the next function is applied to it until the cycle is completed.

The interesting thing about these functions is that they were created with the highest possible level of security in mind, in fact, all these functions were analyzed by the US National Institute of Standards of Technology (NIST), which gives greater validity. So we can be sure that X11 is an algorithm made on proven safe technology.

What do you think about this topic? Did you know how the X11 algorithm works?

If you want more information about buying and selling cryptocurrencies, you can contact us or write your query below (comments section).

Image by Markus Spiske via Unsplash.com under creative commons license.

Leave a Reply

Your email address will not be published.