Litecoin (LTC) praises Dogecoin (DOGE) efforts as mining hashrate hits record highs $LTC LTC DOGE $DOGE DogeFam
Dubbed a"Power couple," Dogecoin and Litecoin use Scrypt, a less-complicated hashing algorithm than SHA-256. As a result, mining Litecoin and Dogecoin is more efficient and faster than mining Bitcoin.Dogecoin and Litecoin mining can also be"merged mined," which means that both coins can be produced simultaneously without affecting mining efficiency, thanks to the usage of a single algorithm.
Because Dogecoin was modeled after Luckycoin, which in turn was based on Litecoin, the two have a shared algorithm.Last year, speculation that Dogecoin could shift to proof of stake surfaced after a statement made by Ethereum co-founder Vitalik Buterin after the ETH merge. The rumors have been dispelled by Dogecoin developers, who stated that there were no plans to move Dogecoin to POS.
In other news, Bitmain, a leading manufacturer of cryptocurrency mining servers under the brand Antminer, will host a Twitter space entitled"LTC & Doge: Will the power couple continue to ride the wave?" with a $128,000 coupon as a giveaway.
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