What is Scrypt?

Scrypt is the hash function that converts an input of letters and numbers into an encrypted output that is used by the cryptocurrency Litecoin. It differs from the SHA-256 hash function that is used by Bitcoin, but it also functions within a similar Proof-of-Work (PoW) consensus mechanism. The Scrypt hash function was originally designed to limit mining to only CPUs and GPUs, although scrypt-capable ASICs have since been developed.