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The Litecoin community just lately underwent a halving occasion. Miners’ block reward was slashed by 50% to six.25 BTC. The halving did not influence LTC’s value. However, this was a major milestone for Litecoin from a basic perspective. The Litecoin equation additionally concerned Dogecoin. On this article, we’ll delve into the connection that these two networks share.
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Litecoin-Dogecoin’s Merged Mining Setup
The Dogecoin venture was created as a joke in 2014 by Billy Markus and Jackson Palmer. Throughout its early days, the community was on the cusp of exhausting all block rewards, owing to the tempo of its issuance and cash provide mannequin. This elevated the percentages of the venture being attacked.
Throughout Dogecoin’s infancy, blocks on the community had been generated each minute. Parallelly, rewards had been being lower by half each 69 days. Consequentially, block subsidies quickly decreased the community’s fastened provide of 100 billion DOGE. That led to the safety of the community being compromised.
So, with no subsidies and transaction charges removed from miners’ attraction, the venture was on the verge of being deserted. That’s when Litecoin got here into the image. The creator of Litecoin, Charlie Lee, put forth a merged mining association proposal on the desk that allowed Dogecoin to borrow Litecoin’s safety.
Merged mining is principally a setup the place miners safe two or extra networks in conjunction. They obtain rewards from each networks. This course of can also be known as Auxiliary PoW as a result of one much less safe auxiliary blockchain borrows safety from a dad or mum community with higher safety. Thus, Dogecoin finally underwent a tough fork to permit this modification. Since then, the Litecoin blockchain has been offering safety to the Dogecoin community.
So far, blocks proceed to be generated each minute on the Dogecoin community. However, no extra Dogecoin halvings happen. Nevertheless, the 100 billion DOGE cap was eliminated to pave the trail for a ten,000 DOGE reward per block for miners.
Dogecoin Miner Holdings
The miner reserve famous a considerable incline after the merge mining set-up was adopted. It attained an ATH of 36.6 billion in H2 2017. After that, the reserve began depleting and dropped to lows. Of late, this metric has been stagnant, indicating that for probably the most a part of 2023, miners didn’t switch plenty of DOGE. At press time, the cumulative miner steadiness stood at 4.38 billion DOGE.
![](https://watcher.guru/news/wp-content/uploads/2023/08/miner-reserve-1024x296.png)
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