![]() In fact, these days most Dogecoin mining is simply a by-product of Litecoin mining. Litecoin is another cryptocurrency using the Scrypt algorithm, and while this makes Dogecoin different from Bitcoin, it is also similar because it still uses Proof of Work as its consensus mechanism, and this means anyone wishing to mine Dogecoin needs a computer capable of doing so.īecause Dogecoin is based on the Scrypt algorithm the Scrypt ASIC miners used for Litecoin can also be used to mine Dogecoin, however this isn’t too common since mining Litecoin with the expensive ASIC rigs is often more profitable. ![]() Mining Dogecoinĭogecoin is different from Bitcoin because it uses the Scrypt algorithm. Because it remains popular within the cryptocurrency ecosystem, it is also popular with miners. In January 2018 Dogecoin hit its highest all-time level with a market cap of over $2 billion. ![]() It’s interesting to note that Dogecoin, which began as a joke, is now the 37th largest coin by market capitalization, and has a market cap of more than $430 million. ![]()
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