Thursday , April 22 2021
Home / Litecoin / Dogecoin and Litecoin Mining Announcement Crashed this Company’s Website

Dogecoin and Litecoin Mining Announcement Crashed this Company’s Website



Avid proponents of Dogecoin (DOGE) and Litecoin (LTC) are likely responsible for crashing the website of a Canadian social platform after the company revealed its investment in DOGE and LTC mining. Dogecoin remains the quintessential meme coin amid social media backing by popular figures like Elon Musk and Mark Cuban.

Hello Pal Website Suffers Temporary Outage Following Dogecoin Mining News

According to an official communique released by Hello Pal on Thursday (Mar. 11, 2020), the company’s website was forced to go offline temporarily amid a surge of visitors. The traffic spike followed an announcement by the company of its 15% equity investment in a mining establishment that mines Dogecoin and Litecoin exclusively.

In its press statement, the Canadian social, e-learning, and travel platform revealed that the DOGE/LTC mining farm is the largest in the world dedicated to mining those two cryptocurrencies. The data center reportedly boasts a capacity of about 70 megawatts and is home to over 90,000 rigs. The facility also reportedly accounts for between 3 to 5 percent of the LTC/DOGE hash rate.

Following the announcement, Hello Pal said its website traffic went up by more than 1,000% overwhelming its capacity and causing a temporary outage. However, the company’s streaming platform and app service did not suffer similar outages despite recording massive online activity.

Apart from the equity investment, Hello Pal is also reportedly upscaling its mining inventory and has taken delivery of 51% of the over 12,500 mining rigs dedicated to Litecoin and Dogecoin.

Commenting on the incident, KL Wong, the Hello Pal CEO focused on the positives, stating:

“The sharp increase in activity on our website and the Hello Pal app validates the clear position we have taken on Dogecoin as well as on cryptocurrency in general.”

Hello Pal’s Dogecoin and Litecoin mining investment also constitutes an expansion of its crypto-related enterprise. The Canadian company already offers a proprietary cryptocurrency wallet service to its users.

The Power of the Meme

It is perhaps unsurprising to see a company announcing its involvement in Dogecoin triggering increased online visibility for the firm. Despite being a “meme coin,” Dogecoin continues to enjoy a cult following in the crypto space and even beyond with prominent figures outside the industry like Mark Cuban tweeting about the Shiba-Inu-inspired cryptocurrency.

While Elon Musk is a noted Dogecoin shill, the Tesla CEO has recently expressed concerns over the apparent ownership centralization of the cryptocurrency. Meanwhile, major crypto ATM maker CoinFlip has added support for DOGE across 1,800 of its machines.


Source link

About admin

Check Also

How Litecoin Can Follow DOGE To The Moon And Reach $2,000

With a 181.5% increase in the 24-hour chart, Dogecoin (DOGE) is breaking every resistance towards …

Leave a Reply

Your email address will not be published. Required fields are marked *