Review on Dogecoin by Orlymar Córdova
Dogecoin, the altcoins that impressed many!
Currently there is a wide range of cryptocurrencies, each with its own characteristics and specifications that allow them to be differentiated from the rest. The creation of many of them (altcoins) has been under the conceptual inspiration of Bitcoin. Dogecoin, the open source per-to-per digital currency is one of those altcoins that has achieved immense popularity in the world of cryptocurrencies because it was born as a kind of joke but later achieved the support of the entire community by positioning itself among the top 50 cryptocurrencies with the largest market capitalization on CoinMarketCap.
Its name Dogecoin is due to the fact that its launch took place thanks to the Internet meme “doge”, where a dog of the Japanese breed (Shiba Inu) is shown. Although it emerged as a joke, Dogecoin has become a serious and stable cryptocurrency, having a great acceptance by users and businesses internationally who use it widely as a payment method.
One of the advantages that Dogecoin has over bitcoin is the speed of confirmation of transactions; While in the latter the process can take between 10min and an hour, Dogecoin takes approximately 1 minute, which in the mining field represents a very favorable advantage and provides high levels of scalability to the project.
Pros
- Dogecoin is a decentralized cryptocurrency that has a lot of support and acceptance in the market.
- It is among the main cryptocurrencies on the market.
- The fees imposed for transactions are low.
- Dogecoin has features that make it an easy to use and mine platform.
- They currently have a market capitalization of more than $ 300 million.
- It is one of the cryptocurrencies that can be mined very easily and can be obtained throughout the network through faucets.
Cons
- Some users remain reluctant to use this cryptocurrency since they do not see the project seriously.
- Its price has remained very devalued over time.
