What is PeerHash ?
PeerHash is an algorithm that distributes combines hashing power from multiple PeerHash nodes to a single address. In this case a Monero (XMR) address. The algorithm could be implemented for any proof of work coin however XMR has been chosen because it can still be used by the home user and XMR uses the RandomX algorithm which is designed to work most effectively on CPUs.
The PeerHash algorithm randomly chooses a lucky XMR address and all PeerHash nodes mine for that address over a 20 minutes cycle and then another address is randomly chosen (‘winning the PeerHash lottery’). The great thing about PeerHash is that it is designed so that all nodes that participate will win the PeerHash lottery at some point. We use a fair random distribution to choose a Monero address from all PeerHash participants.