Review on Dogecoin by Peace Ofem
THE FUN COIN
Being one of the oldest cryptocurrencies around Dogecoin was started out of fun. Created by programmer Billy Markus and Jackson Palme in 2013, It is a cryptocurrency that features a likeness of the Shiba Inu (Japanese dog) from the "doge" meme on the internet as its logo having the symbol Ð and its ticker symbol as DOGE.
It rapidly had its own online community and reached a capitalization of US$60 million in January 2014. This cryptocurrency uses Litecoin's scrypt technology and is a proof-of-work coin. In comparison with other cryptocurrencies, it had a fast initial coin production schedule by mid 2015 100 billion coins were in circulation and having an additional 5.256 billion coins every year after that. As of June 2015, the 100 billionth Dogecoin had been mined. With a few main stream commercial applications, it has achieved traction as an Internet tipping system, as social media users grant Dogecoin tips to other users for providing noteworthy contents.
It is still a famous coin with miners, although is has not actively developed since 2018, its market capitalization puts it near the top 25 crypto assets and
it is worth buying as a personal collection cryptocurrency for long-term portfolios. Dogecoin is a peer-to-peer, open-source cryptocurrency just like other cryptocurrencies. It is considered an altcoin and an almost sarcastic meme coin. .
Dogecoin is very useful especially when making carrying out small payments with very low commissions and can be found in almost any exchange which makes it a fascinating cryptocurrency as it has a lot of potentials to grow.
Pros
- Lower fees in transactions
- Lower value that helps in tipping and gaming currency
- Faster confirmation times
- Still has a friendly and devoted community
- Can be mined easily
Cons
- It is seen as a meme coin
- Less secure
- Less stable
- Not meant for serious investment
