In Proof of Work (PoW) cryptocurrencies, raw hash rates can be deceptive. Simply knowing a chain operates at “1.51 PH/s” (peta-hashes per second) doesn’t automatically tell you how secure it is. What really matters is how much money—actual dollars—an attacker would have to spend on mining equipment to control a majority of that chain’s hashing power. That’s the core idea behind “Hash Dollars.”
Below, we’ll break down exactly how Hash Dollars are calculated for Dingocoin, provide real-world examples of Scrypt mining rigs, and illustrate why Dingocoin’s cost-to-attack is so formidable.
The Basics of Hash Dollars
Hash Dollars (sometimes called “dollarhash”) is a metric that multiplies:
(Chain’s Hashrate in H/s) x (Hardware Cost per H/s)
The result tells us how much it costs (in USD) to gather enough hardware to match or exceed the network’s current total hashing power.
Why Algorithms Matter
One reason raw hash rates can mislead is that different algorithms use different kinds of hardware. For Bitcoin’s SHA-256 algorithm, specialized ASICs have become relatively inexpensive on a per-hash basis. But for Scrypt (used by Litecoin, Dogecoin, and Dingocoin), hardware can be more niche and pricey per hash. So, 1 PH/s of Scrypt might cost far more to achieve than, say, 1 PH/s of SHA-256.
Real-World Scrypt ASIC Example
To see how these costs add up, let’s look at some approx prices for Scrypt ASIC miners. (Prices vary over time, but these examples give you a ballpark.)
- Bitmain Antminer L7
- Approx. $8,000–$12,000 depending on seller
- Advertised to produce ~9.5 GH/s (9,500 MH/s) on Scrypt.
- Goldshell LT6
- Approx. $3,000–$5,000
- Around 3.35 GH/s (3,350 MH/s) on Scrypt.
- Antminer L3++
- Often under $1,000, older model
- ~580 MH/s, cost per hash is higher than newer rigs.
(Note: These listings are just snapshots—prices, availability, and specs change quickly. We’re not endorsing these machines; this is purely for illustration.)
Cost per Hash
If a rig that produces 1 GH/s on Scrypt costs roughly $1,000, then “hardware cost per GH/s” is $1,000/GH. But these real listings often reflect a mix of different speeds, conditions, and power draws—so you’d combine them to estimate an average hardware cost per GH/s.
Piecing It Together for Dingocoin
Right now, Dingocoin hovers around 1.51 PH/s (~1.51 million GH/s). Let’s say the average cost per GH/s based on currently available Scrypt ASICs is around $650 (blending the prices of top models). A hypothetical equation would look like:
Hash Dollars (Dingocoin) = 1,510,000 GH/s × \$650/GH/s ≈ \$982 million
We often round it to about $1 billion, factoring in variations in rig prices and shipping costs. That means an attacker trying to grab 51% of Dingocoin’s current hash rate would need nearly one billion dollars worth of new hardware.
How This Translates to Security
The higher the Hash Dollar figure, the more expensive it is for a malicious entity to perform a 51% attack—where they could rewrite blocks, double-spend, or disrupt the network.
- Scrypt Merge-Mining: Dingocoin’s synergy with Litecoin and Dogecoin amplifies how expensive it’d be to steal majority control. Attackers need to out-compete an entire ecosystem, not just a standalone chain.
- Dollar Values vs. Raw Hash: If you just saw “1.51 PH/s,” you might think it’s far below Bitcoin’s multi-EH/s range. In Hash Dollars, though, Dingocoin remains among the pricier payment coins to compromise—rivaling older networks like BCH or RVN.
Why Users Should Care
- Higher Trust: A coin that’s cheap to attack faces constant risk of double-spending or chain splits, undermining user faith.
- Business Adoption: Merchants or payment processors want confidence that transactions are final and the network won’t be hijacked. A high Hash Dollar value shows robust defense.
- Future Scalability: As Dingocoin expands throughput, staying secure is crucial. Merge-mining synergy helps keep the attacker cost high, even if transaction volumes surge.
Conclusion
Hash rate alone can be a misleading security metric. By looking at Hash Dollars, we see the real cost in actual money an attacker must spend on specialized rigs. Dingocoin’s $1 billion barrier—driven by Scrypt merge-mining and active Guardian oversight—puts it in a top-tier league of secure PoW coins, especially for everyday payments.
So, if you’re wondering whether Dingocoin can fend off malicious actors, remember it’s not just about “1.51 PH/s”—it’s about how many $1,000+ machines you’d need to buy, and that’s a cost few can afford to take on.
—The Dingocoin Guardians