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Merged mining is an innovative method of mining two or more cryptocurrencies simultaneously without compromising the mining performance. Thus, a miner can utilize computational power to mine multiple blockchains. However, all the involved cryptocurrencies must follow the same algorithm to perform merged mining.

Let’s explore merged mining, its techniques, and how it works in detail with this blog.

What is Merged Mining?
Merged mining is the process of mining multiple PoW-based cryptocurrencies that share the same hash algorithm simultaneously using the same mining hardware. Thus, miners can earn significant mining rewards by contributing their computational power to multiple blockchains at the same time.
Satoshi Nakamoto, the anonymous creator of Bitcoin, proposed the merged mining technique way back in 2010. That allowed miners to mine another cryptocurrency along with the primary or parent blockchain, Bitcoin. The other blockchain that works alongside the parent blockchain in merged mining is called an auxiliary blockchain.
The only condition for merged mining is that the other cryptocurrency should also follow the same mining algorithm as Bitcoin, which is SHA-256.
How does Merged Mining Work?
Merged mining means mining multiple cryptocurrencies simultaneously without compromising the mining performance. The technique behind merged mining is using Auxiliary Proof of Work (AuxPoW). For example, the AuxPoW leverages the work done on one blockchain as valid work on another blockchain.
In simple words, the primary or original blockchain that offers the proof of work is called the parent blockchain, whereas the one that accepts the work as valid is called an auxiliary blockchain.
However, the prerequisite for merged mining is all the involved cryptocurrencies should follow the same algorithm. For instance, if you want to mine cryptocurrencies along with Bitcoin, those cryptocurrencies should also follow Bitcoin’s SHA-256 algorithm.
The parent blockchain and auxiliary blockchain work together to mine your preferred cryptocurrencies. However, the parent blockchain will not undergo many modifications, while the auxiliary blockchain should be optimized to accept the work of the primary or parent blockchain.
The question of whether the merged mining is good or bad is still under debate. Some claim that merged mining increases blockchain security and reduces the possibility of blockchain attacks. However, others say that merged mining doesn’t really enhance blockchain security.

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Dogecoin is a cryptocurrency that was started as a meme and fun alternative to traditional cryptocurrencies like Bitcoin, Ethereum, etc. Developed by Billy Markus and Jackson Palmer, Dogecoin got its name from the Shiba Inu dog from the Doge meme as its logo and mascot. That gave instant popularity and a unique identity to Dogecoin.

Dogecoin functions on a decentralized network and follows the Proof-of-Work (PoW) algorithm like Bitcoin. Though it started as a meme, Dogecoin gained attention over the years and gained a dedicated community.

Let’s delve deeper into Dogecoin, its features, and how it works.

What is Dogecoin?

Dogecoin is an open-source cryptocurrency that was created as a lighthearted alternative to traditional cryptocurrencies like Bitcoin. Launched in 2013, Dogecoin is abundant, unlike Bitcoin, which was designed to be scarce. So, Dogecoin has no maximum supply.

Dogecoin follows the PoW consensus mechanism, which is a computationally intensive process. Thus, miners will need advanced mining hardware with excellent hash rate and energy efficiency to solve complex puzzles and mine new Dogecoins. Upon confirmation, the transactions are added to a decentralized public ledger.

Dogecoin attracted several eyeballs due to the tremendous price surge in May 2021. It is most probably due to social media-driven trends. For instance, Tesla Elon Musk’s tweet on Dogecoin is partly responsible for the price surge. However, the price dropped in the later months of 2021. No one can predict when the Dogecoin price will fall or surge again, as it depends on several factors. Thus, users should watch the market closely before making any investment decisions.

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