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Litecoin's official X account recently posted an "i'm here for you, dogecoin" tweet, stunning the DOGE community. The tweet was posted alongside a meme that draws inspiration from the iconic 2D action game "Q*bert," and it bore the Dogecoin and Litecoin brandings.
The tweet, which affirmed support for the Dogecoin network, likely draws from the recent Qubic controversy in the crypto space. Privacy-focused Monero recently experienced what appeared to be an attempted network takeover by one of its major mining pools, Qubic, prompting concerns over hashrate centralization.
This aside, Dogecoin and Litecoin share similar origins. Litecoin founder Charlie Lee created Litecoin in 2011, cloning Bitcoin's code, two years after the original cryptocurrency was launched by Satoshi Nakamoto.
Two years after Litecoin’s launch, two software engineers, Billy Markus and Jackson Palmer, created Dogecoin in 2013, following Luckycoin, which is itself a clone of Litecoin.
I'm here for you?
Litecoin's tweet reflects on an incident that goes way back to 2014. The Dogecoin blockchain was at risk of attack in 2014 as it almost exhausted its block rewards due to a frenzied rate of currency issuance.
Litecoin creator Charlie Lee stepped in and proposed a "merged mining" arrangement, allowing Dogecoin to borrow Litecoin's network security.
Dogecoin later switched to auxiliary proof-of-work (AuxPoW), also known as merge mining, enabling Litecoin miners to process transactions, while providing an extra layer of security to its network.
Litecoin and Dogecoin both rely on a "proof-of-work" consensus that allows miners to process transactions and secure the network in exchange for block rewards, with Litecoin undergoing a halving event every four years, similarly to Bitcoin.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team