Dogecoin’s Unwanted Association with Litecoin

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Dogecoin’s Unwanted Association with Litecoin

ForexMinute.com – After a series of dramatic dialogue exchanges, Dogecoin developers finally laid their verbal weapons and agreed to Mr. Charlie Lee’s proposal to merge with Litecoin. Whether Shibes love or hate it, but Dogecoin was indeed approaching towards a dead end, thanks to its constantly dropping mining profitability and hash rate.

After the implementation of Auxiliary-Proof-of-Work (Aux-PoW), the Doge network is at least protected from a once-possible 51% attack. However, the developers are still shying away from accepting Litecoin as their parent protocol, possible because of an inferiority complex. The formers have kept the word “Litecoin” away from their announcements and have replaced it with “Scrypt coins”, etc.

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And Litecoin has undeniably emerged as a parent chain of Dogecoin. As known even to one-day old user, Litecoin was created by using a separate Scrypt algorithm. It was for solving competition for miners who were already mining on Bitcoin’s SHA256 algorithm. Just like the way Namecoin was derived from SHA256, Dogecoin was also born out of the womb of Scrypt. Like the way Namecoin was under the threat of a 51% attack, Dogecoin too faced the similar challenges recently. The only difference is that Namecoin openly accepted Bitcoin as its dominant when accepting to merge. Dogecoin, on the other hand, has not recognized its unquestionable association with Litecoin until now.

The community otherwise is split on this situation. There are still some “serious” folks in the “humorous” Doge community who recognize the important role of Litecoin in boosting Dogecoin. However, there are also some who are completely ignorant to these facts (developers included).

Undoubtedly, Litecoin block reward was much more than that of Dogecoin which ultimately gave the former a vast majority of hashing power. Since the implementation of merge mine, the Dogecoin blockchain is now allowed solutions found in Litecoin’s blockchain. Dogecoin team had already announced to hardfork to behave as an auxiliary protocol.

The entire process will eventually present both the coins with ultimate stability. What we now think is that that Dogecoin developers should sincerely apologize to Charlie Lee for whatever remarks they made earlier on his intentions.

The idea is taken?

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With an upbringing rooted in deep ethical values, Yashu Gola knows how to put honesty and dedication into his articles. This young and dynamic financial analyst has done his graduation in IT engineering. His interests in financial writing have once brought him to our digital doorsteps. Since then, he has been an integral part of ForexMinute.com and writes the most captivating news-articles on the foreign exchange industry, cryptocurrencies, and medical marijuana trading.
  • Đan

    The vibe in the Đogecoin subreddit is overwhelmingly positive. I for one welcome our scrypt based overlords.