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Review on Dogecoin by Alecia Sosa
Dogecoin
Dogecoin is the first cryptocurrency to run a fully decentralized exchange that is powered by users, not centralized companies like Coinbase. The exchange is also the first decentralized exchange to integrate fiat currency. With this, users will be able to buy and sell the coins without having to exchange them in a central bank or broker like in traditional crypto- currency trading. With this, the entire system becomes decentralized. The currency will be stored on the blockchain where anyone can download and check all the transactions, allowing the users to have complete control over their coins . The coins will be transferred directly to the user's wallet without needing any middleman (exchanges ) who take money and turn it into fiat. This means that there is no need to send money to banks or brokerage companies. In contrast , the fiat currency market will be controlled by the user with the help of their computer, and that will only be done by the user's computer. The users will also be able to buy , sell and exchange the coins directly with others.
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Pros
- Dogecoin is also a cryptocurrency with a unique design. It's a chain that is a combination of a bitcoin and an Ethereum coin.
Cons
- Dogecoin is still very much a young cryptocurrency, but it is rapidly becoming the second largest.
