Merged Mining: Binance Research Reveals Exciting Concepts. 0 Shares . 0 Comments < 1 Min. reading . It’s highly possible that the reward halving for bitcoin and Litecoin mining will be mitigated by merged mining. A recent report by Binance Research, attempted to analyze the potential of merged mining. The aim is to see if incentives for crypto miners can be retained. Merged mining uses the ... In theory, merged mining can be an interesting method for a small (low-hash) blockchain to increase their security, by leveraging the hashing power of Bitcoin or another bigger chain. This could potentially reduce the possibility of 51% attacks, as long as enough miners agree to adopt merged mining. Binance Academy has described merged mining as the “act of mining two or more cryptocurrencies at the same time, without sacrificing overall mining performance”. The motivation driving the merged mining model is to provide greater security to the smaller chain. In the merged mining model, miners on the “parent chain” can now also apply the equivalent hash rate to the “child chain ... On Nov. 2, 2020, a report by BitMEX highlighted the growing trend of merged mining on the Bitcoin blockchain. The exchange noted that about 90% of the BTC hash rate currently engages in the mining method. The surprising popularity in merged mining in recent years means that BTC miners are not only using one scheme but adopting multiple systems and potentially using numerous pieces of software. Binance Research analyses merged mining for Litecoin LTC and Dogecoin DOGE Dogecoin is ranked at #30 on coinmarketcap. The latest data indicates to DOGE being priced at $0.003087. The altcoin had a minor decline rate of 0.02% observed. The trading volume recorded is $21.902 million. The total market cap of Dogecoin is $371.836 million. The ... Given that block mining rewards are halved every four years for both Litecoin and Bitcoin, merged mining could potentially become a solution to maintain network security in the long-run as newer cryptoassets, with higher block rewards, could be merge-mined within the same pools. Dogecoin (DOGE) and Litecoin (LTC) have been two of the longest-standing cryptocurrencies, each registering around ... Binance Research, the market research and analysis arm of Binance, has released a new case study report on whether merged mining, which is practiced by Dogecoin (DOGE) on the Litecoin (LTC) blockchain, provides increased security for smaller Proof of Work (PoW) blockchains.
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