Topic: Dogecoin Is the Third-Most Resistant to 51% Attacks, After Bitcoin and Ethereum (Read 298 times)
October 12, 2019, 06:51:39 AM
I think doge is not resistant to attacks, but indeed no one wants to attack him. with a low price, the benefits will not be worth the effort they have to spend, it's better they attack other platforms that are more profitable.
October 12, 2019, 05:39:20 AM
The only thing that hold's Dogecoin is that it is also so resilient as bitcoin is, that's why it stood the test of time.
It isn't clear what you mean by the part that I bolded, but I assume you mean the 'thing' that's kept doge from becoming worthless is the 51% attack resistance. I don't think that's the case, although for miners it might make a big difference. When I think about dogecoin and its amount of coin inflation it always makes me wonder why people use it and how it's managed to maintain its value. It isn't exactly the most expensive coin on the market but it has managed to trade for at least 20 satoshis for a long time. A more likely explanation for it's longevity is the community it has, which is large and passionate about doge.
Or maybe there's no incentive to try a 51% attack on Dogecoin though, because it's not as popular as the other coins in the alts market. And perhaps Dogecoin design (PoW) is very solid from the very beginning.
Those things are more true in my opinion, though I would think that if a 51% attack could be done that someone would try it just to be an anarchist. And yes, I do think it's design is pretty solid as well. Dogecoin is underrated in my eyes and it's a shame that more customers don't use it to buy things with. It makes for a pretty solid currency. October 12, 2019, 04:50:16 AM
Dogecoin Is the Third-Most Resistant to 51% Attacks, After Bitcoin and Ethereum
https://beincrypto.com/dogecoin-is-the-third-most-resistant-to-51-attacks-after-bitcoin-and-ethereum/
Interesting to see this report, but I'm not sure how they back up their claims. The only thing that hold's Dogecoin is that it is also so resilient as bitcoin is, that's why it stood the test of time.
Or maybe there's no incentive to try a 51% attack on Dogecoin though, because it's not as popular as the other coins in the alts market. And perhaps Dogecoin design (PoW) is very solid from the very beginning.
What do you guys think?
Quote
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.
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.
https://beincrypto.com/dogecoin-is-the-third-most-resistant-to-51-attacks-after-bitcoin-and-ethereum/
Interesting to see this report, but I'm not sure how they back up their claims. The only thing that hold's Dogecoin is that it is also so resilient as bitcoin is, that's why it stood the test of time.
Or maybe there's no incentive to try a 51% attack on Dogecoin though, because it's not as popular as the other coins in the alts market. And perhaps Dogecoin design (PoW) is very solid from the very beginning.
What do you guys think?
Interesting. Nonetheless, the risk of such an attack would still be relatively low because of the high opportunity cost of all parties that would be involved in orchestrating such a large scale attack (they would essentially have to sacrifice their entire mining power due to the depreciation of the thing that they're mining with the equipment).
Personally, I think that Doge long term doesn't really have much to grow. Development has been pretty dead.
However, I think there will always be a niche for Dogecoins regardless of the period we're in, simply because of the fact that tx fees are extremely low, blocks are fast, and it's got a history of high volatility which makes it ideal for speculators.
October 11, 2019, 12:29:32 PM
Dogecoin is everywhere such bitcoin and eth . The popularity were like ethereum in my opinion, because despite of the negativity they both survive on this market and still keep showing potential since bearish occurs after the properous history . . So i considered it also as aThird option on this market because it still have strength to come back like ethereum and other alternative coins .
October 11, 2019, 11:53:06 AM
I'm glad we have a new candidat for stability. Whether the claims are real or not we can see for ourselves that it's doing more or less ok.
October 03, 2019, 10:24:46 PM
So here are the findings from the "analyst" Kevin Rooke:
It looks laughable to me. When he claims that it is cheaper to attack coins such as Bitcoin Cash and Litecoin (which are supported by some of the biggest mining farms), you know that his methodology is not very accurate. Either he is trying to pop up Dogecoin (just like most of the fans of that shitcoin), or he is incompetent and unqualified to conduct such an analysis. I will give some stats which makes it clear that his findings were wrong. Check the mining hash rate for some of the coins below:
Bitcoin: 92E (Exahashes per second)
Bitcoin Cash: 2.4E
Litecoin: 315T
Dogecoin: 280T
ZCash: 4.8G
It looks laughable to me. When he claims that it is cheaper to attack coins such as Bitcoin Cash and Litecoin (which are supported by some of the biggest mining farms), you know that his methodology is not very accurate. Either he is trying to pop up Dogecoin (just like most of the fans of that shitcoin), or he is incompetent and unqualified to conduct such an analysis. I will give some stats which makes it clear that his findings were wrong. Check the mining hash rate for some of the coins below:
Bitcoin: 92E (Exahashes per second)
Bitcoin Cash: 2.4E
Litecoin: 315T
Dogecoin: 280T
ZCash: 4.8G
October 03, 2019, 09:59:39 PM
Yes, Dogecoin is a coin in which the developer has worked hard to make it withstand the hacker market and make it very much resistant, unlike nowadays where the projects are just trying their best to get the coin in the market as soon as possible, without giving a little bit of thinking in coding.
October 03, 2019, 09:07:33 PM
What started with a joke turned out to be one of the best out there. The only thing that is lacking is the support. Many are supporting BTC, ETH, BCH because of their value. IMO,considering the stability of DOGE's price and its security, DOGE could be the next Bitcoin if supported massively.
October 03, 2019, 09:00:38 PM
Doge coin I find the transaction very convenient because of its fast speed.
And is widely used on exchanges because of very low transaction fees.
Dogechain wallets containing doge are also very safe because of its very high security.
And is widely used on exchanges because of very low transaction fees.
Dogechain wallets containing doge are also very safe because of its very high security.
October 03, 2019, 08:33:34 PM
~
Quote
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.
~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.
Where are that numbers came from ? $800,000 is a quite much amount of money. If $800,000 will be required to perform 51% attack on bitcoin network, then how much will be needed to perform 51% on dogecoin ? I am very interesting and curious about how they predict the expenses to doing 51% attack.
October 03, 2019, 12:34:54 PM
No wonder as Dogecoin is one of the easily mineable scrypt and has a large community largely volunteering. Dogecoin was never meant to be an investment with their ever increasing supply, though their lose in price and going below top 25 in CMC is turning them to any other old alts, they still are the loved coins for many of early crypto enthusiast including Elon Musk.
October 03, 2019, 12:12:18 PM
It is one of the old coins in the crypto world. The developer actually took his time and invested his sheer intelligence into making a coin that is very good in terms of coding so it is resistant to hackers. This just exemplifies the sheer determination and dedication the old developers had for the beneficial of the public.
October 01, 2019, 03:41:53 AM
Doge has a history of work when programming was done with utmost care. If ever developer took care into securing their project as Doge explicitly did in the time past, they will be able to withstand si h 51% attack. Doge ay be a meme coin but there's lots of development going on in the project.
September 28, 2019, 01:44:58 PM
This is the most important thing. It shows that Dogecoin is really used, that big mining companies believe in it and invest in the mining process. So probably we could speculate about investing into DOGE because if it has the 3 most resistant network, then it should be the 3 largest cryptocurrency, right?
September 28, 2019, 10:21:39 AM
Dogecoin price is relatively resistance to bad market situation. I majorly use it in moving my fund between exchanges of high withdrawal fee to an exchange of low withdrawal fee. I can't say of this claim about its resistance to 51% attack.
September 28, 2019, 09:51:58 AM
maybe this is right and doge is good options for us, if we want to drop our money in crypto industry besides on bitcoin and ethereum
anyway at the first time when this coin born, this is only a meme coin but the fact this meme coin is the third-most resistant to 51% attacks after btc and ethereum,,
anyway at the first time when this coin born, this is only a meme coin but the fact this meme coin is the third-most resistant to 51% attacks after btc and ethereum,,
Dogecoin has created a specific name for itself in the field of the crypto industry, but the funny name of it did not do it less serious. It is a bright representative of the altcoins and it has been often used as an indicator of altcoins that are not related to Bitcoin. However, DOGE current market cap is about $ 263 million, which is 90% lower than its historical maximum in 2018. So, still, it has got problems.
September 28, 2019, 02:43:49 AM
I don't get how this meme coin is more resilient than litecoin.
Maybe litecoin lost power when Bcash was created? Both of them are similar to bitcoin, but "faster".
anyway, this is really good for dogecoin.
Dogecoin is also a lot used in casinos, dice games, and in exchanges and other swap services. It became one of the most solid projects out there... this meme coin!
This is how we can see how many shit coins we have out there...
We would have thought that this meme coin will survived?Maybe litecoin lost power when Bcash was created? Both of them are similar to bitcoin, but "faster".
anyway, this is really good for dogecoin.
Dogecoin is also a lot used in casinos, dice games, and in exchanges and other swap services. It became one of the most solid projects out there... this meme coin!
This is how we can see how many shit coins we have out there...
Maybe we just take advantage of Dogecoin specially when the price of bitcoin is growing exponentially. It was left out in the closet to collect dust. But then again Dogecoin is well belove and accept n the gambling industry. One of the best options during the massive bull run because it was really quick as compare to Bitcoin or even Litecoin at that time.
Wolf.bet offers Dogecoin for their promotions and faucets are one example how this coin will continue to survived and thanks to its resiliency to this 51% attack, this meme coins will continue to thrive in the next ten years or so.
September 27, 2019, 10:44:07 PM
Every time I see Dogecoin, I always remember a post where the creator of Dogecoin said that it was just supposed to be a troll factor in the cryptocurrency space. He is surprised that it has increased in value.
https://thecoinshark.net/creator-dogecoin-is-surprised-by-the-growth/amp/
Having to have the 51% attack would be critical to any coins reputable sense. Imagine being able to double-spend a currency. Which has been a problem from the old virtual currencies back then and the blockchain solves it. It wouldn't be economically viable, in my opinion.
https://thecoinshark.net/creator-dogecoin-is-surprised-by-the-growth/amp/
Having to have the 51% attack would be critical to any coins reputable sense. Imagine being able to double-spend a currency. Which has been a problem from the old virtual currencies back then and the blockchain solves it. It wouldn't be economically viable, in my opinion.
September 27, 2019, 10:35:11 PM
Or maybe there's no incentive to try a 51% attack on Dogecoin ...
Who needs an incentive?
~BCX~
September 27, 2019, 09:18:14 PM
That article is not entirely true. Dogecoin is merged mined using AuxPOW for Scrypt, which means most of the hash rate mining Litecoin is also used for Dogecoin, hence it is Litecoin that has the hashing power security.
As of now:
Litecoin Hashrate: 300.50 TH/s
Dogecoin Hashrate: 208.83 TH/s
So about 66%.
As of now:
Litecoin Hashrate: 300.50 TH/s
Dogecoin Hashrate: 208.83 TH/s
So about 66%.
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