Dogecoin Is the Third-Most Resistant to 51% Attacks, After Bitcoin and Ethereum

[Jating]

Dogecoin Is the Third-Most Resistant to 51% Attacks, After Bitcoin and Ethereum

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.

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?

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[Kemarit]

I'm not surprised if Dogecoin is the 3rd most resistant to 51% attacks, it is one of the old school coins here, wherein the developer was really working hard on its design before putting the product live on the floor. Unlike today wherein the devs are just writing shitty codes just for the heck of releasing them and make money out of it. On the contrary, hackers are having a field day exploiting it and then surprise, surprise those tokens got hack, and people lost their money. If designers and coders will just be like the old school and traditional, instead of thinking of money, programmers back then think of their product first specially how secure it in to such attacks, so no surprises at least for me.

[didzi]

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,,

[dark08]

Yeah Dogecoin is one of a popular altcoin in the market because of its fastest transaction and most gambling site have a dogecoin option to play so I'm not suprising to see that doge  is the third most resistant after bitcoin and ethereum. I'm hoping in the future their project will boom and see the price going up.

[makishart]

Dogecoin Is the Third-Most Resistant to 51% Attacks, After Bitcoin and Ethereum

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.

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?

Incentives are not the real reason.
You must also try to understand what kind of POW that has also used by bitcoin and doge.

So far merged mining is the only answer why bitcoin and doge can avoid 51% attack.

For more

In theory, merged mining can be an interesting method for a small (low-hash) blockchain to increase their security, by leveraging the hashing power of Bitcoin or another bigger chain. This could potentially reduce the possibility of 51% attacks, as long as enough miners agree to adopt merged mining.

https://www.binance.vision/glossary/merged-mining

I hope this will help you to get the real answer.

[bitmover]

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...

[jacafbiz]

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...

I think this is one thing most people got wrong about Dogecoin, Dogecoin do not come out with any fancy marketing like smart contract, lighting, Silver to Bitcoin. It came out as Meme coin and is doing just that, this is what we need in the space, try to address a solution and be good at it, where are all the primecoin, Peercoin, Namecoin, Feathercoin of these world but Doge is still in top 100 project in the space.

[Periodik]

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?

I tend to believe on the latter rather than on the former. In fact, I don't share your view that Dogecoin is not as popular as the other coins in the altcoin market. One has to simply look at where Dogecoin right now, after all those years that it existed, and realize that unlike thousands of new coins right now which are merely developed for the sake of money, Dogecoin remained at a higher spot, with utility, with solid supporters, and even with a much brighter future than the rest.

[sunsofdust]

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%. 

[BitcoinEXpress]

Or maybe there's no incentive to try a 51% attack on Dogecoin ...

Who needs an incentive?





~BCX~

[crwth]

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.

[Jating]

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 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.

[gwdf1]

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,,

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.

[Ibizugbe1]

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.

[sorrros]

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?

[Mianae]

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.

[bvg96634]

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.

[tsaroz]

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.

[SistaFista]

~

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.

~

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.

[Nobita7999]

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.