Benchmarking SHA256 vs Scrypt in Blockchain Block Discovery

Blockchain technology has emerged as a pivotal innovation across multiple sectors due to its decentralized nature, secure transaction processing, and transparency. Central to blockchain operations are cryptographic hashing algorithms like SHA256 and Scrypt, which play a crucial role in ensuring transaction integrity and security. This study conducts a comprehensive benchmarking analysis of SHA256 and Scrypt, focusing on their performance in blockchain block discovery, specifically evaluating hashing speed and block discovery probability. SHA256, known for its high hashing speed, demonstrated rates reaching 101.111 kH/s during a 10-hour test, whereas Scrypt performed at a slower average speed of 9 kH/s. However, Scrypt exhibited a higher probability of block discovery, achieving up to 8.18%, significantly surpassing SHA256's near-zero probability under similar conditions. Tests across various CPUs underscore these differences: SHA256 excels in raw hashing speed, while Scrypt’s memory-intensive design offers greater ASIC resistance and a higher likelihood of block discovery, especially in environments that demand enhanced security. These findings highlight the importance of choosing an algorithm aligned with the specific requirements of a blockchain application, balancing speed, security, and resistance to specialized hardware attacks. The study suggests that hybrid approaches combining SHA256’s speed with Scrypt’s security features could maximize both efficiency and security, contributing valuable insights into the ongoing optimization of blockchain technology.