DOGE more secure than most other proof-of-work cryptocurrencies

16 בנוב׳ 2019

It seems that a memecoin is, unexpectedly, more secure than most other proof-of-work cryptocurrencies. Dogecoin ranks third in cost of conducting a one hour 51% attack.It costs more to perform a 51% attack on Dogecoin than Litecoin, Bitcoin Cash, and other proof-of-work cryptocurrencies, according to recent data. Surprisingly, it seems that a meme cryptocurrency boasts better security than some of the leading cryptocurrencies.Analyst Kevin Rooke posted his findings earlier today on how expensive it is to conduct a 51% attack for one hour. What he found was that such an attack would cost almost $800,000 on Bitcoin and around $100,000 on Ethereum. Dogecoin comes a distant third, closely trailed by Litecoin, Bitcoin Cash, and ZCash.It seems that Dogecoin has carved a definite name for itself in the cryptocurrency industry and its meme-status has not made it any less of a fixture in the market. Generally speaking, Dogecoin has led altcoin rallies across the board. This is why the asset is so often used as an indicator for non-Bitcoin cryptocurrency market trends.So, although Dogecoin seems to be edging out its proof-of-work competitors in security, the meme cryptocurrency has a long way to go before it becomes a commonplace tipping token. For now, it’s just a novelty coin—but what does it say about the state of the cryptocurrency world where a memecoin bodes better against 51% attacks than most leading cryptocurrencies? It’s a fact which should arguably worry us.

20 בינו׳ 2020

הערה

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