• 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

9 months 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

Kraken Expands Services in Colombia with Local Payment Options

chest

Kraken has introduced local payment options in Colombia, allowing users to convert Colombian pesos into USD.

user avatarLuis Flores

Significant Bitcoin Transfer Draws Trader Attention

chest

A major transaction involving the transfer of 1,999 BTC, valued at over $182 million, from Binance to an unknown wallet has sparked significant interest among traders.

user avatarMiguel Rodriguez

BlackRock's iShares BTC Trust Faces Major Outflows

chest

BlackRock's iShares BTC Trust has reported its longest weekly period of outflows since its launch in January 2024, with over $2.7 billion leaving the fund.

user avatarArif Mukhtar

ICN Achieves Regulatory Compliance with EU MiCA

chest

ICN confirms compliance with EU MiCA regulations, classifying its token ICNT as a Utility Token, ensuring transparency and trust.

user avatarGustavo Mendoza

Spectra Launches Yield Trading Platform on Flare

chest

Spectra, a pioneering yield trading platform, is now live on Flare, allowing users to manage yield from interest-bearing assets.

user avatarJacob Williams

Spectra's Innovative Token Structure Explained

chest

At the core of Spectra's protocol is the splitting of yield-bearing tokens into Principal Tokens (PTs) and Yield Tokens (YTs). PTs represent the principal value of the underlying asset, allowing users to lock in a predictable, fixed return, while YTs represent the right to future yield, which can be traded independently.

user avatarMaria Gutierrez

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.