VanEck digital asset manager Gabor Gurbacs responded to Elon Musk’s words that Dogecoin (DOGE) is superior to Bitcoin (BTC) and Ethereum (ETH).
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Gurbacs, in his post on Twitter, reminded that Dogecoin has merged with Litecoin (LTC).
Samson Mow, CSO of Blockstream, gave a similar comment to Gurbacs.
Dogecoin and Litecoin Relationship Reminded
Both Gurbacs and Mow reminded that the meme token has a major problem.
In September 2014, Dogecoin switched to the Auxiliary proof-of-work consensus protocol using the Scrypt algorithm and started mining with Litecoin.
Doge developers had to do a hard fork for it. While this step would cause the hashrate to drop, it would build the presence from a possible 51% attack. This step was due to the rapidly declining Doge mining rewards at that time.
Also, Dogecoin initially appeared after a Litecoin hard fork. It was Litecoin creator Charlie Lee who proposed a merge-mined with Litecoin to save the Doge. After this stage, the Doge hash rate increased to over 1,500 percent in just one month.
In this case, a main blockchain, which is Litecoin, and a sub-blockchain, Dogecoin, can be merged. If Doge developers decide to make fundamental changes to transaction speed and miner rewards, they must first do a hard fork to get rid of merge mining with Litecoin. The second option has a low processing speed.