In the twisted turn of events, Dogecoin has become the fourth most invested Cryptocurrencies in the world. Although the total market of Dogecoin is $75 billion, this shows that people have started understanding the importance of Dogecoin.
The concept of Dogecoin came with a funny way to showcase the advantages of Bitcoin. But the meme coin has shown its true potential and stands where it is now. Being the firstborn, Bitcoin has always held advantages over other Cryptocurrencies. However, over the last couple of years, Dogecoin has improved its technological implementation.
In this article, we will compare Bitcoin and Dogecoin and try to find the differences. At the same time, we will see what similarities they hold.
What Is Bitcoin?
Bitcoin is a digital currency and the product of blockchain technology. It was created by Satoshi Nakamoto (A con man) in 2009. Since the launch of Bitcoin in the market, financial experts found its advantages and started using it for making business payments.
Bitcoin does not have any physical form. It is mined with the help of solving complex calculations. This is usually done with the help of a miner. Whenever one block of information is mined, a certain amount of Bitcoin is created and released in the market. The reward is given to the miners. The miners then keep or sell the Bitcoin.
What Is Dogecoin?
Dogecoin is nothing more than a meme coin that Bily Marcus and Jackson Palmer developed. Their intention of creating this coin was to mock all the other coins in the market. However, to their surprise, these coins became famous and the fourth biggest coin in terms of market caps.
The Dogecoin owner explained to Reddit the trust he launched the coin on the market for fun and only took 3 hours to put the whole project together. And he didn’t have an idea that it would see true success.
Dogecoin Vs. Bitcoin: Differences-
Despite being a meme coin, Dogecoin certainly was surprised with its performance. Over the last years, the price evaluation of Dogecoin has been over 12,000%. Despite sharing a few similarities, they do share some major differences.
If we are talking about the differences, the first difference that you will come across will be its supply in the market. As we know that Bitcoin is scarce in the market and has a limited number in total.
Due to the Bitcoin Halving, there will be a time when Bitcoin will saturate the market. But the same thing stands false for Dogecoin. Dogecoin is created in thousands every day.
2. Created For Sillies:
Perhaps this might be the funniest of differences you have ever come across. Bitcoin was launched in 2009 with a concrete plan written by Satoshi Nakamoto. After the launch of bitcoin, it became the standard of Cryptocurrencies by which all new currencies are compared.
However, Dogecoin is the result of meme coin created by Marcus & Plame too much all the cryptocurrencies. The funny part is that the developer accepted the fact that they only invested three hours in putting the whole project together.
As we know, Dogecoin is created by copying the exact copy of the Bitcoin. On the other hand, Bitcoin has a well-funded ecosystem where developers are seriously trying to make Bitcoin the best Cryptocurrency out there in the market.
Bitcoin enjoys a good environment where there are several investors willing to invest in Bitcoin. However, Dogecoin still remains to be one of the dodgy questions.
There you have it now; you know what the differences are between Bitcoin and Dogecoin. We have tried to keep the articles as simple as possible. We have added concise information to ensure that you get all the information from this article.
After going through the articles, you will find that there is a thin line between the two and only a few aspects show that devotion. With that being said, do let us know how helpful this article was and whether you were able to find the answers you were looking for.
Lucia Patterson is the woman behind TheLegalGuides, a blog solely focused on legal guides, tips, and advice. Lucia loves essay writing and blogs at EssayWritingGuides from her college days. Online Marketing Tools, Smart Business Daily, Emblem Wealthare some of another sites, she is used to contribute.