In the last blog of our series, we introduced the difference between Dogecoin and Bitcoin. The use of various abbreviations can confuse the reader to detect the fundamental basis of both currencies. So, we decided to wait a bit and give more details about these trending currencies. In this write-up, we'll discuss Bitcoin and Dogecoin's key features that help you understand both the terms at best.
Launched on December 6th, 2013, Dogecoin is a first-generation cryptocurrency founded by Jackson Palmer and Billy Markus. Like other valued cryptocurrencies, the preliminary determination of this coin is to allow for peer-to-peer transactions.
1. Dogecoin is used chiefly as a tipping coin
2. Economical to buy
3. Less transaction fee to send
4. It is fast to send Dogecoins
5. Unlimited supply
6. It started as a joke
The first and most renowned digital Cryptocurrency was invented in 2009 by a person or group called Satoshi Nakamoto. Bitcoin (BTC) is a digital currency, which is distributed electronically via a peer-to-peer network. No middlemen control it. There will only be a limited supply of 21 million Bitcoins ever. From the day of its invention, Bitcoin has been racking up the news headlines due to a spectacular rise in price strikes.
1. Bitcoin used as a store of value
2. Innovative payment network
4. The transactions related are comparatively expensive
5. Slow to send
6. Limited supply boosts its price up
Overall, we can say that Dogecoin is a cryptocurrency, much like bitcoin, that allows peer-to-peer transactions. Bitcoin is a world-changing tech, while Dogecoin started as a meme with a dog's picture. It is still a puzzle to many of us why Dogecoin is so highly prized.
To get into more details, stay tuned with us, and feel free to share your thoughts about the same in the comment section.