Why Litecoin Is The Next Crypto To “Teleport” Like Dogecoin
Litecoin was among the top performers of the last bull market, but during this market cycle the cryptocurrency that once led altcoin seasons, is now lagging far behind. However, according to one crypto analyst’s take on the LTCBTC chart, the altcoin will be the next to follow in the footsteps of Dogecoin and “teleport” higher […]
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After months of battling a looming low hashrate on the horizon, Dogecoin developers have decided it is in the currency's best interest to merge-mine with Litecoin using Auxillary Proof-of-Work (AuxPoW). Technically all Scrypt coins with a higher difficulty than Dogecoin will be merge-mined, but only Litecoin holds that criteria making the verbiage on merge-mining clear. Although many in the Dogecoin community wish to break themselves away from the "merge-mining" verb usage, what's true is true. If Litecoin were to disappear tomorrow, AuxPoW would still be in effect for Dogecoin. Until....
The surprising success of dogecoin has changed the way that miners view the scrypt algorithm. And that's not good for litecoin or doge, according to Charlie Lee. On the dogecoin subreddit, the litecoin creator has proposed merged mining of the coins in order to ensure better security: "Litecoin's security is a lot less than it could be. So merging mining with dogecoin would make both litecoin/dogecoin almost impossible to 51%." What does '51%' mean? When Lee refers to this 51%, he's talking about a '51% attack', an exploit that could be made possible if a miner or a pool could take control....
At 8 a.m. EST today, various Dogecoin and Litecoin members plan to announce a brand new initiative to both raise Christmas money for orphans in the Philippines and unite the crypto communities over a special cause. The charity, deemed "Liteshibes4Christmas," will launch on both the Litecoin subreddit and the Dogecoin subreddit, along with litecointalk.org. The hope is that this charity event will set precedent for all the digital currency communities to join forces and work together for good causes in the future, regardless of differences. Andrew, also known in the Litecoin community as....
During Charlie Lee's speech at The North American Bitcoin Conference in Chicago, the topic of Dogecoin was brought up a few times. His speech was all about the steps coins need to take to be successful, when someone from the audience sparked up the mergedmining topic. Lee is the creator of Litecoin, and a few months ago he offered Dogecoin a merged mining deal with Litecoin. But if the Dogecoin developers continue to not take action, he believes that Dogecoin will not survive. CCN. Lee's speech was all about how digital currencies need to diversify their mining platforms, rather than copy....
The dogecoin development team has announced that it will soon enable auxiliary proof-of-work (AuxPoW), allowing merge-mining with litecoin that will address concerns over the altcoin's future. AuxPoW enables the dogecoin block chain to receive work from other scrypt-based networks. Dogecoin miners will still be able to generate blocks and receive DOGE, but now, litecoin miners will contribute hashing power to the dogecoin network. The move, announced on the dogecoin subreddit, follows a months-long period of community debate focusing on the question of long-term viability in the dogecoin....