Dogecoin (DOGE) News: EthereumFair (ETHF), a recent fork of the Ethereum (ETH) blockchain that works on the Proof-of-Work consensus, argued that it will set up a DAO to fork Dogecoin (DOGE) and change its algorithm. This will be spear-headed to attract the coveted graphics card mining feature for the canine-themed memecoin and even be EVM-compatible.
ETHF Plans On Dogecoin (DOGE) Fork
EthereumFair, which was developed by a decentralized autonomous organization (DAO) based in Silicon Valley, keeps the Proof-of-Work (PoW) consensus mechanism while continuing the Ethereum code from the time the network forked on September 15. Reports by ETHF’s latest notice, a new DAO organization will be established where technology, communities, project parties, exchanges, miners, and financial resources will be welcomed for active participation in the new fork proposal.
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Touting it as a worldwide movement and an important reshuffle of liquidity, the reason behind the fork comes as a pledge to preserve the PoW mechanism for the altcoin till the end of time. Furthermore, adding a graphics card mining facility had been an age-long request from the Dogecoin (DOGE) (DOGE) community, and the stated fork is stated to work on making it a reality. Furthermore, since the viral cryptocurrency is compatible with EVM, it motivates the miners to utilize their computing power for the memecoin. It’s likewise expected to lessen the contradiction betwixt a large number of retail and centralized investors which has been growing by the day.
Dogecoin (DOGE) Fork Details
The next split will keep the 1:1 ledger, but there will be some detailed alterations made from the Bitcoin series algorithm to the Ethereum (ETH) series algorithm, as mentioned in the official release, which is slated to take place sometime soon.
“Dear Community #Ethfairs #Dogecoin,
We are happy to reveal a fork of the #Dogecoin blockchain tech. The main reasons for the fork are as follows:
— EthereumFair($ETHF) #PeoplePOW (@EthereumFair) February 4, 2023
As of now, the team behind EthereumFair project is working to consolidate technical advantages, optimize the mining model, and reduce the ETHF mining difficulty coefficient to be able to facilitate the innumerable developers, Decentralized Finance projects, Non-Fungible Token (NFT) contracts, and active nodes that populate the Ethereum (ETH) landscape. Since its inception, the new fork has reportedly amassed whole lot of hash price and currency value, in addition to carrying 400T of computational power on Ethereum (ETH) for the very 1st time.
In minutes following the release of this particular Dogecoin (DOGE) news, the price of Dogecoin (DOGE) (DOGE) moved to $0.094 at the time of composition. And, reports by the cryptocurrency market tracker published by CoinGape, this results in a growth of 2.12 percent in the previous 24 hours, on the other side to a jump of 6.28 percent over the last 7 days.
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