Ethash is a hashing algorithm used in the Ethereum blockchain network. It follows the Proof of Work (PoW) consensus mechanism to verify and validate transactions on the Ethereum blockchain before adding them to the decentralized ledger. Ethash is an upgraded version of the earlier algorithm Dagger-Hashimoto.

Miners worldwide participated in Ethash mining using crypto mining hardware, like GPUs (Graphics Processing Units), to mine Ethereum Classic (ETC) against the network difficulty. Miners who mine blocks first get freshly mined ETC coins as mining rewards.

Originally, Ethash was developed with a focus on protection from ASIC miners dominating the network. However, eventually, the leading crypto mining hardware manufacturer, Bitmain, announced ASIC miners for Ethash mining.

Let’s explore more about the Ethash algorithm, its origin, how it works, its characteristics, use cases and benefits in detail.