• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

The Secret of Dingocoin's Resilience: Hash Dollars and Attack Cost Analysis

user avatar

by Giorgi Kostiuk

a year ago


In Proof of Work cryptocurrencies like Dingocoin, it's not just about the network's hash rate, but the monetary cost of acquiring the equipment needed to attack it. Here's where the concept of Hash Dollars comes into play.

The Basics of Hash Dollars

Hash Dollars (or dollarhash) is a metric that multiplies the network's hash rate by the cost of the hardware needed to achieve it. This metric helps assess how much money is required to acquire enough equipment to attack the network.

Real-World Scrypt ASIC Example

The price of various Scrypt ASIC equipment varies, but typically, for example, the Bitmain Antminer L7 is priced between $8,000 to $12,000 and produces 9.5 GH/s. Goldshell LT6 costs $3,000 to $5,000 for 3.35 GH/s. This price gap illustrates the potential expense involved in achieving Scrypt hash rates comparable to SHA-256.

Implications for Dingocoin Security

For Dingocoin, with a current hash rate around 1.51 PH/s, the attack cost is estimated to be about $1 billion. This ranks it among the most secure PoW coins, especially for everyday payments. Its merge-mining with Litecoin and Dogecoin adds further complexity to potential attacks, requiring competition with the entire ecosystem rather than just a single chain.

Hash Dollars provide a clear insight into Dingocoin's security. A high barrier of $1 billion, aided by Scrypt merge-mining and active guardian oversight, ensures protection against 51% attacks, maintaining network reliability.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

chest

Other news

Solana Experiences Significant Outflows Amid Market Uncertainty

chest

Solana experiences significant outflows amid market uncertainty, with over 1 million SOL leaving centralized exchanges in a 72-hour period.

user avatarLi Weicheng

Solana Faces Critical Support and Resistance Levels

chest

Analysts highlight Solana's struggle between fragile support and overhead resistance, with critical levels identified. Currently, Solana is consolidating around the $83-$87 area, which is viewed as critical short-term support.

user avatarAisha Farooq

Robinhood Reports Fourth Quarter Revenue of $128 Billion

chest

Robinhood reported fourth quarter revenue of $128 billion, a 27% year-over-year increase, but net income fell 33% to $605 million, leading to a 6.5% drop in stock price.

user avatarTenzin Dorje

Robinhood Expands Prediction Markets Amid NFL Season

chest

Robinhood has expanded its prediction market offerings to allow customers to make parlay-like bets, capitalizing on the surge in gambling during the NFL postseason.

user avatarBayarjavkhlan Ganbaatar

Bitmine Immersion Boosts Ethereum Holdings Amid Market Volatility

chest

Despite market volatility, institutional investors like Bitmine Immersion are increasing their Ethereum holdings.

user avatarElias Mukuru

XRP's Long-Term Outlook Remains Bullish Despite Short-Term Pain

chest

Diana connects XRP's current pullback to a larger cup-and-handle formation, suggesting a bullish continuation.

user avatarMohamed Farouk

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.