Dogecoin, otherwise known as the meme-based cryptocurrency is a digital token that started its operation back in 2013. The overall schematics of the Dogecoin such as the decentralized protocol and the blockchain orientation that it uses are practically the same as Bitcoin but there is an extreme difference between the purposes of the two. Dogecoin was developed with the idea of having fun with crypto trading and mining rather than being a mainstream digital token simply used for trading and withholding.
Interesting aspects of Dogecoin
An interesting fact about Dogecoin is that it is liked dearly by many influencers such as Mark Cuban and Elon Musk. Mark Cuban has even endorsed Dogecoin as one of the payment methods for his football team, the Dallas Mavericks. Elon Musk on the other hand has been using his influence in the crypto market to get the price of Dogecoin to improve.
Unique aspects of Dogecoin
Dogecoin was developed on the same principle and metrics as Bitcoin, it works onto the same algorithm on which Bitcoin works and everything. The main difference is that it was intended to be a bit more fun UI (user interface) wise to deal with and be more efficient in terms of transactions processing and whatnot. You would be amazed to know that Dogecoin only takes less than a minute to process and Voila! you are done with your transaction whereas other cryptocurrencies are surely going to take some time. In comparison, it can be said that Dogecoin is two times faster than the rest of the cryptocurrencies when it comes to transactions.
The mining aspects of Dogecoin are as peculiar as the efficiency of its blockchain. When it comes to mining the other cryptocurrencies such as Bitcoin or Ethereum the miners are awarded a fixed reward per block but in the case of the Dogecoin it is a little different, the rewards are dispersed randomly throughout the extension of the blocks. You never know when you are going to hit a massive reward mining your next block even if you didn’t make zilch in recent days.
Why you should invest in Dogecoin?
Despite the random throwing of the memes and weird notions attached with this cryptocurrency, it is definitely a keeper. This means that if you have the capital and the will to see your investment grow over the years then you should definitely think about investing some of your money into Dogecoin. Another great reason why you should get yourself into the Dogecoin business is the fact that this cryptocurrency is strongly backed by Elon Musk and other influencers.
Musk is not only adamant about making Dogecoin a successful cryptocurrency but is actually working with the development team to make Dogecoin’s blockchain even smarter and efficient than any other cryptocurrency out there. Another ravishing reason that should tempt you to pitch your investment into Dogecoin is the fact that some of its developers are from the Ethereum development team which means these gentlemen are not only capable but know what they are doing. So, a strong development team mixed with state-of-the-art efficient blockchain and the support of Elon Musk seems like all the right boxes crossed for you.
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