Vitalik Buterin famously described the blockchain trilemma as the challenge of achieving decentralization, security, and scalability all at once. Projects often excel at two of these but compromise on the third, like a balancing act that never quite settles. This article focuses on payment-focused cryptocurrencies—those aiming to be day-to-day transactional coins—and shows how Dingocoin stands out against major names like Bitcoin, Litecoin, Dogecoin, and Bitcoin Cash, plus emerging players such as Kaspa and eCash. Together, these projects make up about 80% of the global crypto market cap in the payments space.
We’re not including platforms like Solana or Cardano (mostly used for their ecosystems rather than real-world payments) or privacy coins like Monero or Zcash, which face heavy regulatory pushback (for example, Binance delisting Monero) and thus struggle with mainstream adoption. Similarly, meme tokens (like SHIB) and countless small/mid-sized coins aren’t central to this comparison—our goal is to see how Dingocoin measures up in real-world use and core crypto values next to its primary competitors.
Key payment coins in the blockchain trilemma.
- Scalability (X-axis): TPS & block time; right = higher throughput.
- Decentralization (Y-axis): Ownership, launch model, governance, and miner/validator spread.
- Security (Bubble Size): Dollar value behind each chain’s mining capacity. Bigger bubble = higher cost to attack.
(Blue/Teal = Proof of Work; Magenta/Purple = “not mined.”)
Visualizing the Payment Coin Blockchain Trilemma
Since the trilemma covers three dimensions, a bubble chart works best. In Figure 1, coins are plotted by Scalability (X-axis), Decentralization (Y-axis), and Security (bubble size in dollar value). Metrics can shift over time, but this snapshot (January 2025) reveals where each coin stands:
- Scalability: Speed + throughput.
- Decentralization: Fair launch, ownership spread, governance style, miner distribution.
- Security: The actual $-value backing each chain’s mining power—how expensive a 51% attack would be.
Dingocoin slots into a sweet spot: it’s fast enough for normal payments, decentralized by a fair-launch Proof of Work, and hard to attack thanks to merge-mining synergy. The blockchain trilemma doesn’t have to force a total sacrifice of any one dimension.
Scalability
A good payment coin must be quick and cheap; real-world commerce can’t afford slow confirmations or high fees. Some chains (often Proof of Stake) boast high TPS but risk sacrificing decentralization or security.
How Dingocoin Measures Up:
- 1-Minute Blocks + ~330 TPS (coming mainnet by first half 2025): Great for micro-payments, online shopping, and global tipping.
- Ultra-Low Fees: Sending Dingocoin feels as easy as shooting a text, ideal for cross-border transfers or casual P2P.
- Flip App Integration: Partnership with a non-custodial phone-number-based wallet shows Dingocoin’s focus on real-world utility (with over 1 million downloads so far).
By contrast, Bitcoin is iconic but deals with 10-minute blocks and average fees around $7, making smaller payments tough. Meanwhile, Kaspa claims high speeds but faces scrutiny about decentralization (see A Factual Account of theKaspa Fraud Scheme and Kaspa’s Call to Action).
Decentralization
Decentralization ensures no single entity controls the chain, preserving crypto’s original promise of user sovereignty. Some coins do big presales or impose centralized governance, undercutting these ideals.
Assessing Dingocoin’s Decentralization:
- Fair Launch, No Premine: Nobody started with a huge chunk of Dingocoins, so ownership is broad (only ~13% in top three wallets).
- Guardian Do-ocracy: Inspired by open-source communities (e.g., How Dingocoin’s Governance Works), it’s “build and propose,” not “top-down orders.”
- Multiple Mining Pools: Reduces the risk of one pool dominating the chain.
Other coins face challenges: Kaspa dealt with a hidden premine, while stablecoins like Tether revolve around a single issuer, as tracked in the CoinCarp Tether Richlist. Even Bitcoin or Dogecoin fare well on decentralization but can stumble on speed or cost.
Mined vs. Minted
- Mined Coins (Dingocoin, Bitcoin, Litecoin, Dogecoin) rely on scheduled PoW issuance, tying security to hardware/energy.
- Minted Coins (certain PoS or centralized tokens) can be more energy-efficient but risk wealth/power concentration among large stakers or a central issuer.
Security
No one wants to trust a network prone to 51% attacks or double-spends. Some high-speed or user-friendly chains can be targets if their hashing power is limited.
Why Dingocoin Is Secure:
- Scrypt Merge-Mining: Tapping into Litecoin/Dogecoin’s hashing pool means a potential attacker faces huge costs to gain majority control.
- Open-Source & Vigilant Community: Frequent updates and an involved Guardian group keep an eye out for vulnerabilities.
Dollarhash vs. Raw Hash Rate
Different algorithms make raw hash rate comparisons tricky. The real metric is how much money an attacker needs to buy enough hardware for a 51% attack. For Dingocoin (~1.51 PH/s), that figure is around $1 billion—beyond most malicious players. By contrast, networks like Bitcoin tower at $19 billion, but others (like Bitcoin Cash or Ravencoin) dip below $100 million, leaving them more exposed. See Miningpoolstats for current data.
| PoW Coin | Dollarhash (Billions USD) |
|---|---|
Bitcoin |
18.91 |
Litecoin |
1.15 |
Dogecoin |
1.15 |
Dingocoin |
1.03 |
Kaspa |
0.18 |
Bitcoin Cash |
0.04 |
Ravencoin |
0.02 |
Bitcoin SV |
0.01 |
Dash |
0.009 |
eCash |
0.003 |
Bitcoin Gold |
0.003 |
DigiByte |
0.002 |
Summing It Up
Though many coins excel in one dimension of the trilemma—like high speeds or huge hash power—they usually pay a price elsewhere. Dingocoin aims for a more balanced path, using fast block times for actual payments, a fair-launch PoW to ensure open ownership, and a merge-mined synergy that places the cost-of-attack at over $1 billion.
That synergy of low fees, rapid confirms, and a casual, meme-friendly vibe makes Dingocoin practical for day-to-day digital payments—without losing the open participation, fair governance, or reliable security that first inspired the crypto movement.
—The Dingocoin Guardians