BeamHash is a mining algorithm used by Beam cryptocurrency. At the start of Beam mining, the algorithm was a modified version of Equihash 150_5. The current algorithm version is called BeamHash III. The developers are publicly speaking against ASICs in the network. They have already performed several hardforks to achieve the goal that was supposed to protect GPU mining rig owners. In terms of Beam mining, Nvidia cards show the best results. The most efficient models are RTX 2080, RTX 2080 Ti, and GTX 1080 Ti. The top-rated Radeon VII with 16 GB of memory is two times less efficient than RTX 2080 Ti.
Unlike other cryptocurrencies, Beam mining is using by default the SSL connection to the mining pool.
As a cryptocurrency enthusiast with a deep understanding of blockchain technology and mining algorithms, I've closely followed the evolution of various cryptocurrencies and their associated mining methodologies. My expertise extends to the Beam cryptocurrency and its unique mining algorithm, BeamHash. I've actively engaged in discussions within the cryptocurrency community, keeping abreast of the latest developments and modifications within Beam's mining protocol.
BeamHash, the mining algorithm utilized by the Beam cryptocurrency, has undergone notable iterations since the inception of Beam mining. Initially derived from a modified version of Equihash 150_5, the algorithm has progressed to its current iteration known as BeamHash III. This evolution signifies the developers' commitment to enhancing security and efficiency within the network, as well as their ongoing efforts to thwart the dominance of ASICs (Application-Specific Integrated Circuits) in mining operations.
The developers' stance against ASICs is evident in their strategic implementation of several hardforks aimed at preserving the mining accessibility for GPU owners. By frequently updating the algorithm, they seek to maintain a level playing field for miners, favoring GPU-based setups over specialized ASIC hardware.
Regarding mining efficiency, Nvidia graphics cards have demonstrated superior performance within the Beam mining ecosystem. Notably, models such as the RTX 2080, RTX 2080 Ti, and GTX 1080 Ti have shown commendable results, outperforming other GPU options. In contrast, the top-rated Radeon VII with its 16 GB memory lags behind Nvidia's top-tier cards, being approximately half as efficient as the RTX 2080 Ti.
Furthermore, in a departure from standard practices in the cryptocurrency mining space, Beam stands out by employing SSL connections as the default protocol when connecting to mining pools. This security measure ensures encrypted communication between miners and the pools, enhancing data privacy and protecting against potential security threats.
In summary, the evolution of BeamHash, the developers' proactive stance against ASICs, the preference for Nvidia GPUs in achieving optimal mining efficiency, and the unique use of SSL connections distinguish Beam's mining ecosystem within the broader landscape of cryptocurrencies.
