Binance Research analyses merged mining for Litecoin {LTC} and Dogecoin {DOGE}

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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 supply has 120,441,168,879 DOGE tokens involved.

Litecoin is ranked at #4 on coinmarketcap, above Bitcoin Cash and Binance. The price of LTC is at $98.69 as of now. The trading volume recorded is $3.562 billion.The total market cap of Litecoin is $6.193 billion. The circulating supply has 62,756,837 LTC tokens in play.

Merged mining is the process by which two altcoins which share the same algorithm can be mined at the same time. “In the report titled ‘Case Study: Merged Mining in Dogecoin & Litecoin,’ Binance Research studied the merged mining relationship between Dogecoin and its parent blockchain Litecoin…Given that block mining rewards are halved every four years for both Litecoin and Bitcoin, merge-mining could potentially become a solution to maintain network security…”

Dogecoin is still gathering users in the cryptosphere. The Binance listing had let to the token having a great surge which brought it up to #30. Dogecoin memes go viral occasionally, and Elon Musk is a fan of the network. Coinbase may add Dogecoin to their platform in the near future, as Brian has expressed support for this project.

Binance Research is known for their unbiased readings of several facets of the market. If Bitcoin Cash and Bitcoin begin merge mining, this might to better security in the network. The chain is vulnerable to attacks, and this is an issue that must be rectified soon as pace for adoption grows.

This listing was also announced a short while ago. OKEx is an exchange whose popularity has been climbing in recent times: