Home Altcoins News Dogecoin (DOGE) Completely Depends on Litecoin (LTC) for Security

Dogecoin (DOGE) Completely Depends on Litecoin (LTC) for Security

Dogecoin Security

Jared Tate stated,only possible by speeding up block times & increasing block size w/ real time diff & other tweaks. Stuff DigiByte has continually worked on since we brought DOGE back from the dead in 2014. Dogecoin completely depends on Litecoin for security. DGB outperforms both by 10x.

This Jared stated in response to Elon Musk stating, Working with Doge devs to improve system transaction efficiency. Potentially promising.

These changes would require a massive DOGE hard fork. Stuff we carried out over 5 hard/ soft forks over 7 years for DGB. Hard forking a blockchain w/ even a 100 million MC is extremely hard. A DogeCoin HF w/ $70 billion MC will never happen. You will fracture the network.

Majority of people don’t understand that technical stuff. Certainly most people still not in crypto don’t understand. People only care about speed, reliability, and price.

Elon Musk literally doesn’t care for anything other than doge. He is making a joke out of crypto market. No point spamming your own bags.

The Whitepaper states:  Dogecoin is a cryptocurrency like Bitcoin, although it does not use SHA256 as its proof of work (POW). Taking development cues from Tenebrix and Litecoin, Dogecoin currently employs a simplified variant of scrypt.

Dogecoin Core is released under the terms of the MIT license.

Regarding the mining information:  Dogecoin uses a simplified variant of the scrypt key derivation function as its proof of work with a target time of one minute per block and difficulty readjustment after every block. The block rewards are fixed and halve every 100,000 blocks. Starting with the 600,000th block, a permanent reward of 10,000 Dogecoin per block will be issued.

Originally, a different payout scheme was envisioned with block rewards being determined by taking the maximum reward as per the block schedule and applying the result of a Mersenne Twister pseudo-random number generator to arrive at a number between 0 and the maximum reward.

This was changed starting with block 145,000, to prevent large pools from gaming the system and mining only high reward blocks. At the same time, the difficulty retargeting was also changed from four hours to once per block (every minute), implementing an algorithm courtesy of the DigiByte Coin development team, to lessen the impact of sudden increases and decreases of network hashing rate.

When it comes to choosing your wallet:  You have to sync with the blockchain to use Dogecoin. MultiDoge is a “light” wallet. It syncs with the blockchain by “skimming” through the blockchain, providing fast sync times. Dogecoin Core, on the other hand, is a “full” wallet. It syncs by downloading it, providing a solid-working Dogecoin wallet.

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dan saada

Dan hold a master of finance from the ISEG (France) , Dan is also a Fan of cryptocurrencies and mining. Send a tip to: 0x4C6D67705aF449f0C0102D4C7C693ad4A64926e9

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