CryptoNight Lite is an upgraded version of CryptoNight hashing algorithm. CryptoNight Lite was invented by the Aeon cryptocurrency team and was unique to its source code. Today there are also some other CryptoNight Lite based coins like TurtleCoin, Iridium and some others. CryptoNight Lite shares all of core ideas that were inherent to CryptoNight-based algorithms. CryptoNight Lite offers building a crypto that provides its users with smoothly decreasing emission, untraceable transactions, blockchain analysis resistance and efficient CPU mining.
- CryptoNight Lite is suitable for mobile devices as it does not require a lot of resources
- CryptoNight Lite is approachable for miners with poor mining gear
- CryptoNight Lite allows faster verification of the blockchain
Key difference from CryptoNight
Original CryptoNight required about 2 MB of RAM, which is the minimum size of the L3 cache of modern processors. This amount of required RAM was implemented to exclude the usage of ASIC for CryptoNight-based coins. It was supposed that many of ASICs were not designed to process 2MB of RAM while mining and, if they were, it would sufficiently raise the costs of power required for it and reduce the efficiency. However, current ASICs are totally capable of mining CryptoNight-based coins and only algorithms with massive scratchpads counted in GBs can be argued to be ASIC-resistant. Cryptonight Lite was designed to be better suited for low end CPUs as it uses a smaller scratchpad for hashing. Instead of using 2 MB of RAM, CryptoNight Lite uses 1 MB. As a result of the smaller scratchpad size mining requires only half as many iterations as original CryptoNight uses. As ASIC mining is not restricted by RAM demands anymore, CryptoNight Lite is just presenting a more egalitarian approach to mining equipment requirements.
V1 and V7
CryptoNight Lite versions can be a little confusing. Firstly, it’s important to notice that these are successors of original CryptoNight versions. CryptoNight versions from 1 to 6 were the same algo - original CryptoNight. Numbers of versions were derived from blockchain versions of Monero that were started after its forks. However, the 7th fork of Monero made some changes in CryptoNight to protect its blockchain form new ASIC miners and CryptoNight v7 is now ASIC-resistant. CryptoNight Lite v7 is a the same CryptoNight Lite as original, but with some changes that resulted in ASIC-resistance, lower hashrate and decline in difficulty of mining.
CryptoNight Lite v1 mining is available for CPU, GPU, ASIC and cloud mining. CryptoNight Lite v7 is available for every of mentioned hardware mining options but ASIC.
- CPU mining of CryptoNight Lite cryptocurrencies of both versions is available for mobile phones and almost every computer. It is not very effective or profitable, but is approachable and flexible.
- GPU mining is more effective, but investment costs are higher and maintenance is difficult.
- ASIC mining is the most efficient and profitable, but remains under constant pressure of being restricted from mining due to algorithm changes.
- Cloud mining does not require any investments in hardware but is risky and hardly profitable
There are multiple software solutions for CryptoNight Lite mining. CPU mining solutions for both versions of algorithm are provided by CPUMiner-Multi, JCE Cryptonote CPU Miner and XMRig. GPU mining solutions are made specifically for GPUs of AMD and NVidia respectively. Only a small amount of GPU mining software is suitable for both GPU providers. AMD’s GPUs are widely considered to be better suited for CryptoNight-based cryptocurrencies of both versions. If your hashing power is not high, you may consider joining the mining pool. Mining pools will take some fees, but overall income provided by mining pools is usually higher for users with mediocre mining gear.
See Also on BitcoinWiki
- Hidden Jadestone: What are the pros and cons of Cryptonight-light to Cryptonight?
- BitcoinTalk: Aeon announcement
- Aeon official website
- Reddit post: What makes Cryptonight-Lite different than Cryptonight?
- MineCryptoNight: How to mine CryptoNight coins
- Reddit post: Cryptonight v7 vs. v1 - A nitpick request to use the correct algorithm name