VeriBlock to use Proof-of-Proof® security to secure Dogecoin using BTC

VeriBlock to use Proof-of-Proof® security to secure Dogecoin using BTC

VeriBlock - a not-for-profit foundation that focuses on the development of Proof-of-Proof® security technology has announced a new measure to secure Dogecoin, crypto created by two software engineers Billy Markus and Jackson Palmer, through Bitcoin.  

At present, developers at VeriBlock are working on combining Proof-of-Proof into the codebase of Dogecoin along with planning to present an open-source beta to the Dogecoin community for testing and feedback.   

In addition to the above, the team is planning to carry out a 51% attack on the PoP-led variant of Dogecoin to demonstrate how technology protects blockchains from similar attacks that have been used to steal more than USD 30 million by targeting high profile projects like Bitcoin Gold, Ethereum Classic, and other multi-billion-dollar projects.

According to Maxwell Sanchez, Co-Founder, Chief Technical Officer of VeriBlock, the company deploys the mining power of Bitcoin to secure the world’s blockchain, strengthening the per-transaction environmental cost to levels that are much lower than that provided by the legacy financial systems along with allowing Bitcoin to meet the levels that are required by most Fortune 500 entities that focus on blockchain technology.    

Maxwell mentioned that with Bitcoin becoming better utilized with the advancement in technologies such as Proof-of-Proof, it carries the potential to become the most secure and efficient platform across the globe along with offering solutions that help finance to enforce digital property rights, fight police corruption, among various others.

Dogecoin uses a shared security network by merge-mining with Litecoin, making it a viable candidate for VeriBlock’s security inheritance technology. Moreover, merge mining has many crucial security issues and decoupling of Dogecoin from Litecoin will considerably benefit the security profile of both projects alongside making Bitcoin eco-friendly.

For the record, VeriBlock’s novel technology allows any blockchain to gain Bitcoin’s security in a Decentralized, Trustless, Transparent, and Permissionless or DTTP manner, holding to the core attributes that make Bitcoin the most robust digital integrity platform in the world.

Source Credit:  https://www.prnewswire.com/news-releases/veriblock-funds-initiative-to-recycle-bitcoins-energy-consumption-to-secure-dogecoin-countering-hostile-blood-bitcoin-narrative-301300346.html