Doge coin DOGE started in December 2013 as a lighthearted joke by software engineers, Billy Marcus and Jackson Palmer built a poke fun at the intense speculation surrounding early cryptocurrencies if featured the iconic Shiba Inu Doja meme as its mascot, despite satirical origins it evolved into a massive cultural phenomenon, a top 10 cryptocurrency by market cap and the pioneer of the entire meme coin sector. What makes Dogecoin different while bitcoin was designed to be scarce a digital version of gold. Dogecoin was built with the opposite philosophy, abundance, infinite supply, unlike bitcoins hard cap of 21 million coins Dogecoin has an infinite supply block rewards issue 10,000 every single minute introducing roughly 5,000,000,000 new coins into circulation each year to keep transactions cheap and encouraged spending rather than Hoarding. Auxiliary proof of work. Dogecoin is secured by a consensus mechanism called script since 2014. It has been merged mind alongside coin. This means Lico miners can secure both network simultaneously without needing extra electricity or computational power, the doge army, what doge lack in complex smart contract utility it makes up for in community power. It’s highly active meme fluent community has historically use the coin to fund charitable endeavors, including sponsoring the Jamaican bobsled team at the 2014 Winter Olympics and building clean Dogecoin versus major cryptocurrencies feature Dogecoin DOGE bitcoin BTC Ethereum ETH primary use case microchips low fee transactions, store of value, digital gold, decentralized applications and smart contract max supply limit infinite inflation fixed at 21 million deflationary dynamic burns fees no hard cap block time one minute 10 minutes approximately 12 seconds transaction fees very low under one cent variable can be high during congestion
Post a Comment