Review on Dogecoin by Moshe Bal

Name: Dogecoin
Item: Dogecoin
Rating: 4

June 17, 2019

Dogecoin

Dogecoin may be a personal favorite of many people. This entertainingly named DogeCoin features the image of a Shiba Inu breed dog as its logo, which gave it popularity online. 
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The network has a few very unique features and in some cases is considered better than the goliath of the crypto sphere – Bitcoin. DogeCoin has no maximum supply limit and it uses the Proof of Work consensus mechanism. 
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The original idea of this project was to create a way to incentivize or tip content creators for their creations. 
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DogeCoin was designed to be a much more approachable and easier to use cryptocurrency that could give what users put off of the complexity of Bitcoin could not find anywhere else. It even was named after a popular internet meme. 
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To be honest, the inception of the coin was meant to be humorous and there were no real future plans for development or development to bring something unique and groundbreaking to the crypto sphere. 
Even though there is no official roadmap or new features being developed, this coin still remains one of the most popular cryptocurrencies on the market. 
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DogeCoin blockchain is a decentralized peer to peer network that is using the Proof of Work consensus mechanism and the Scrypt hashing algorithm. The last block reward halving happened in February 2018, which left the reward at 10 000 DOGE coins and will remain permanent forever.
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Pros

DogeCoin network is that it is significantly faster than other altcoin blockchains. This is done with the lower time between blocks of 60 seconds with an automatic difficulty adjustment every 4 hours.
Lower transaction fees making it suitable for use on a daily basis
A large growing community because of its popularity of being an online tipping currency for content creators from different spheres like gaming or social media

Cons

Dogecoin main disadvantage is the security is of a lower level
Dogecoin is not really profitable to mine
Dogecoin is a lower value coin and relatively less stable than the others on the market