Earlier this month, Dogecoin switched to their AuxPoW algorithm, which enabled merged mining with Litecoin in an effort to protect both coins’ networks.
The idea had been first proposed by Litecoin founder Charlie Lee back in April, and at first the Dogecoin community was lukewarm to the idea. But as time went on and the threat of 51% attacks loomed, it became more clear that merged mining was necessary for Dogecoin to survive.
An Update From The Dogecoin Developers
Merged mining has been in place for a couple of weeks now, and the Dogecoin devs have released a statement on how things have been going so far.
Although they said the switchover to AuxPoW was relatively smooth, they did admit there were a few problems remaining.
One is the fact that some miners are still mining using the older Dogecoin algorithm, which is no longer supported. Most of these miners are mining on the p2pool network, a decentralized mining pool.
AuxPoW has been negative for Dogecoin miners in some ways, since it has increased the difficulty. The statement writer, who goes uncredited, thanked Dogecoin’s miners, “who have stuck with us through think and thin, and I know are badly hurting from the increased difficulty; your loyalty is appreciated.”
On the bright side, Dogecoin is far more stable now. The hashrate, which sat at around 60GH/s before merged mining, was far more vulnerable to a 51% attack than the 750-850 GH/s at which it now sits.
At 60 GH/s, several Litecoin pools outnumbered Dogecoin’s total hashrate, which made them extremely vulnerable.
Dogecoin’s Future
Is the joke over? Is Dogecoin going to fall by the wayside? Not if the Dogecoin devs have anything to do with it!
The devs conclude the post by appealing to the community to “help make Dogecoin more useful.”
That means encouraging more merchants and service providers, and for that we need to actually get spending again. From reports I hear, we were by far the most active altcoin in terms of usage at one time, and we’re now a very long way down, so please lets get back to using Dogecoin as a currency.
Dogecoin Devs Release Update On AuxPoW Upgrade
No comments:
Post a Comment