Review on Dogecoin by Othere Obtentus
A joke that became a serious deal
Most of us might have seen the famous "dog meme" on the internet. A cryptocurrency was created as a joke currency based on the same dog meme. The cryptocurrency was supposed to be a parody currency but somehow became popular in the crypto community.
That is the story behind the creation of Dogecoin which shows the true decentralized aspect of cryptocurrencies. Dogecoin without a dedicated development team truly gained its value from its users who made it one of the top cryptocurrencies. Dogecoin has been active in fundraising for various charitable activities.
Dogecoin lacks in technological aspect and a good support team, due to which it is still not taken seriously by many exchanges and platforms. But along with its flaws, it has many prospects as well. It has one of the fastest block generation time which means miners can approve transactions faster. Another advantage of Dogecoin is that it has very low transaction fees and recently it has gained a practical use for tipping in Reddit.
Dogecoin may not be a technological revolution or an exemplary cryptocurrency but it is a good cryptocurrency that works fine. One triumph that Dogecoin has on other more popular cryptocurrency is its large friendly and devoted online community.
Pros
- Fast transaction speed
- Low transaction cost
- Faster confirmation time
- It has a devoted community
- Merged mining pool with Litecoin
Cons
- Lacks a dedicated development team
- Less stable and less mature
- Not taken seriously by many platforms
- Low market value
