ForexMinute.com – Reddit’s Litecoin and Dogecoin communities are currently conducting extensive discussions regarding possible merged mining between their respective altcoins. The offer is proposed by none other than Litecoin creator Charles Lee himself, as the new ASIC mining machines are gradually rising above the horizon, and is hopeful to take over the entire Scrypt Mining market.
According to a recent post made by Charles, who goes by the name of ‘Coblee’ on Reddit, he has confirmed to have written to Dogecoin’s co-founder Jackson Palmer in regards to address the potential chaos Scrypt ASICs can bring and challenge the survival of both the coins.
“ASICs could potentially do a lot of damage to the small coins, so having Litecoin and Dogecoin join up would be good for both coins,” the Litecoin creator states.
Charles has further discussed heavily about a possible merged mining between Litecoin and Dogecoin, as they have the same mining algorithm. He has also suggested the Dogecoin creator to better Hard Fork their coin to add in merge mining compatibilities, and has referred the codes that could hard fork Dogecoin easily.
Dogecoin community particularly sees some benefits from the proposed merged mining. A Reddit user, who goes by the ID of GREENSERIUS, discusses the growing possibilities of Dogecoin dropping its Block Reward by 50% in the upcoming weeks. It is the same time when Scrypt ASICs will be delivered to miners all across the world.
According to him, and many others, such events are sure enough to kill small digital currencies like Dogecoin, as ASIC Miners will provide additional hash power that could lead individuals to even start a 51% attack.
A merged mining seems to be the only solution that could prevent 51% attacks and save Dogecoin from dying. It would be good for the reputation of Dogecoin sharing a boat with Litecoin. A perfect example of such merge is NMC and BTC – two coins which has successfully protected each other’s back by forming an alliance.
You can see the full Charles Lee post here.
To contact the reporter of the story: Yashu Gola at email@example.com