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Merged Mining of Dogecoin

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2014-09-11 21:52 UTC (10 years ago)

Starting today, Dogecoin can be mined alongside Litecoin, by using a technique known as merged mining (or “AuxPoW”, which stands for “auxiliary proof of work”) that allows multiple cryptocurrencies to be mined at the same time. Note that this is not what profit-switching pools already did (namely, continually switching between two or more coins based on profitability considerations), and does not cause sudden difficulty spikes, nor does it harm the involved block chains in any way. On the contrary, it strengthens both currencies, because miners no longer have to split between the two networks but can mine (and therefore secure) both simultaneously.

Since this is, payouts will still be made in litecoins only, but from now on the PPS rate will be adjusted upwards to take into account the expected rewards coming from merged mining. This is basically the same as having a negative PPS “fee”. Since this “PPS ratio” (now displayed in the top-right corner of the website) is based on volatile factors, including the DOGE/LTC exchange price and the difficulty of the Dogecoin network, we may need to change it rather frequently. We are starting with a generous 125% PPS, but this figure may need to be adjusted very soon, as the difficulty of Dogecoin is expected to increase rapidly.

Enjoy the extra rewards!

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