ForexMinute.com – The Dogecoin development team recently took Reddit and other social networking platforms to convey their plans of forking the Dogecoin blockchain in the coming days. According to the available reports, the team is enabling Auxiliary Proof of Work functionality (AuxPoW) on Dogecoin network to address the constantly dropping hash rate.
Earlier, Litecoin creator Charlie Lee also offered Dogecoin to merge mine with them – a proposal which was rejected by the latter’s developers and community as well. However, the reasons given by Lee had raised many crucial points about the loopholes in Dogecoin block chain, and how it can ultimately lead to the death of the coin. The Dogecoin developers, in the wake of similar allegations from other experts as well, announced yesterday to enable Dogecoin blockchain to accept work from other Scrypt coins.
Dogecoin core developer Hans Langer said:
“AuxPoW has been around in the crypto space for quite a while now. Our topmost priority has always been to provide a stable platform for the currency and its services and of course its users. We hope that with AuxPoW we can achieve that in a better way than what it currently is like. Our [hash rate] has been on a decline and we hope that we can gain more of it with the acceptance of proof of work from other chains.”
The impact of this announcement of Dogecoin price charts have been negligible. Originally, it was not event expected at first place. The basic idea behind merging Dogecoin blockchain with other coins is to detach its price from the hash rate. The coin simply means to focus on its fundamental security, which will further develop a strong community and high number of adaptions as well. This will also add stability to Dogecoin prices, if one sees a broader view.
The coin will survive!
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