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Litecoin\u2019s<\/strong> (LTC) mining hashrate has hit an all-time high and that is in part thanks to Dogecoin<\/strong> (CRYPTO: DOGE<\/a>), according to the former’s\u00a0founder Charlie Lee.<\/strong><\/p>\n What Happened: <\/strong>The LTC mining hashrate rose to over 500 TH\/s. Lee said this implies LTC\u2019s network performed 500 trillion hashes or calculations per second.\u00a0<\/p>\n \u201cThis is thanks in part to our friends at @dogecoin, who are mining together with us to secure both networks,\u201d said Lee, tagging the official Dogecoin Twitter account in his post.\u00a0<\/p>\n Litecoin mining hashrate has hit an all-time high of over 500 TH\/s. That’s a proof of work of 500,000,000,000,000 hashes performed every second by the Litecoin network!<\/p>\n This is thanks in part to our friends at @dogecoin<\/a>, who are mining together with us to secure both networks. pic.twitter.com\/1IUe6Sn95h<\/a><\/p>\n \u2014 Charlie Lee (@SatoshiLite) May 3, 2022<\/a><\/p>\n<\/blockquote>\n Lee said he would consider having \u201cDogecoin\u201d in his background image in response to a Twitter user.\u00a0<\/p>\n Create one for me and I will consider!<\/p>\n \u2014 Charlie Lee\u00a0 (@SatoshiLite) May 3, 2022<\/a><\/p>\n<\/blockquote>\n See Also: <\/em>How To Get Free NFTs<\/em><\/a><\/p>\n Why It Matters: <\/strong>The Litecoin creator also addressed why DOGE has a larger market cap than the coin he created.<\/p>\n \u201cMeme game is strong! It\u2019s good for Litecoin as most money is spent on securing the Litecoin network,\u201d said Lee.<\/p>\n Meme game is strong! It\u2019s good for Litecoin as most money is spent on securing the Litecoin network.<\/p>\n \u2014 Charlie Lee (@SatoshiLite) May 3, 2022<\/a><\/p>\n<\/blockquote>\n Dogecoin has a market cap of $17.3 billion, while Litecoin\u2019s market capitalization stood at $7 billion, according to CoinMarketCap data.<\/p>\n Billy Markus<\/strong>, the co-creator of Dogecoin, said in a 2021 interview with Benzinga that the auxiliary proof-of-work or AuxPOW, announced in 2014 after it was suggested by Lee, allows Dogecoin to be merge-mined with any Scrypt coin.\u00a0<\/a><\/p>\n Markus said at the time that trying to help the Dogecoin community to accept AuxPow was the last thing he did before moving away from the project in 2014.<\/p>\n Price Action:<\/strong> At press time, over 24 hours, DOGE traded 0.6% higher at $0.13, while LTC traded 0.7% higher at $100.10, according to Benzinga Pro data.\u00a0<\/a> \u00a9 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.<\/i><\/p>\n\n
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