The X11 Algorithm is one of the algorithms being used in the cryptocurrency world. Experts believe it as the future of many coins (token) available out there. Other than this, SCRYPT ASICs and others with expected 250 MH/s are also being considered seriously. The X11 Algorithm besides being future for many tokens has its own flaws, so the question arises here do they outweigh its merits? Without deviating from our focus let’s discuss the merits and demerits of the X11 Algorithm.
Pros of the X11 Algorithm
Secure: Due to the use of eleven hashing function from the Blake algorithm to the Keccak algorithm, the X11 is very secure for the coins works with the CPUs.
Productive: The X11 algorithm provides brisk hashing for both the GPU’s and CPU’s. Also, it helps in keeping your expensive graphics cards cooler over 30 per cent to protect from overheating. It is obtained from less power consumption from a graphics card while token mining process.
Low Cost: The electricity cost for mining crypto-coins with the X11 algorithm is quite low as it's far productive and armed graphics cards do not use much power while processing. Consequently, the electricity cost at the end of the month will be significantly lower and high in use algorithm for mining coins.
Proficient: The X11 algorithm is way far sophisticated than the SHA256 ASIC implementation and will avoid ASIC miners in the near future. Also, it will permit CPU/GPU users long term mining.
Motive: The X11 algo fulfils the intention of Satoshi Nakamoto who always wanted easy token mining from affordable hardware by decentralizing the hashing power. However, Satoshi predicts the arrival of ASICs though as per some Litecoin developers moving to the X11 Algorithm is something special and makes others feel the same.
Cons of the X11 Algo
Age: The age of the X11 algorithm is considered one of its demerits. Until, the algorithm not given the ASIC’d, it was being expected for two years. Its longevity could be considered as its weakness like other algorithms have.
Botnet Attacks: The X11 algorithm, however, did not witness any botnet attacks of significant magnitude, though it is likely for such attacks as CPU mines at hash rates of GPU’s on SCRYPT.
Lack of Network: The X11 algorithm may sound dream come true for a miner albeit the newcomers to mining are likely to suffer if they go by the aforementioned merits.
Community: The community behind the coin using the X11 algorithm depends a lot. As it's a matter of patience to see how the algorithm will be supported by the community. There are chances, the coin can suffer fatally from a few bad dumps. Also, the incentives and methods used in algo could change from difficulty rises, and block rewards and halving rates.
Is the X20 Algo a Better Alternative?
The X20 algorithm is the latest version of the X11 algorithm. It was first seen in action as the part of the Pieta ecosystem which uses X20 algo for increasing the efficiency and reducing energy consumption in the cryptocurrency mining process. The X20 does the job perfectly as it has been designed to ease the mining process. In addition to the new X20 mining algo, Pieta also uses solar energy to reduce the cost and detrimental effects of cryptocurrency mining on the environment. You can find details at https://pieta.network