Doge is the next “WAVE”…..
Back in 2009, Bitcoin was first introduced to the world. For quite some time, the coin was stagnant. In 2010, Bitcoin manage to climb to a mere $0.08 per coin. Today’s Bitcoin prices are sharp contrast of the fraction of a dollar it use to be. Just like its dominating predecessor started “budding out” in 2010, Dogecoin($ 0.06 ), is now worth a small fraction of a $1. To say, Dogecoin will follow the same financial heights as of Bitcoin would be mere speculation.
Cryptocurrency are very high volatile and a risky investment. It’s quite difficult to predict the financial pattern of a “blooming” coin. However, when folks like Soulja Boy and Elon Musk start to back the coin, it makes the situation very interesting. Both guru’s (in their own respects, hip hop and EV transit) have publicly declared their adoration for the coin via twitter. Dogecoin has limitless possibilities with huge financial investors already on board.
The technology that gives life to Dogecoin is the same algorithm that runs Litecoin. Dogecoin is a Litecoin clone. Basically, the algorithm was “forked” (i.e. copied) from Litecoin via, Github. Github is an open- sourced platform where millions of software developers share file repositories. Litecoin is a peer-to-peer Internet currency that enables instant, near-zero cost payments to anyone in the world (litecoin.org).
Litecoin features instantaneous transaction speeds and lower transaction fees as compared to other altcoins. Therefore, Dogecoin could be a strong digital asset in the near future. It’s powered by a robust technological network. Dogecoin, like Litecoin, runs on the Proof-of-Work, PoW, blockchain protocol. In other words, a mathematical computation is genereated by the peer-to-peer network when a user request validation of a new token attempting to be added to the “blockchain.”
All tokens/coins are encoded on the chain just link a genome is encrypted into the double helix strands of human dna. It’s all relative. If the math problem is answered successfully by the network of nodes, a reward is granted to the sucessful miner and a new “block” is added to the “chain.”
In closing, Dogecoin was created to be a fintech satire. The two software engineers behind the coin, Billy Markus and Jackson Palmer admitted that the coin was created as a joke a few years ago. However, Dogecoin is a far cry from a laughing matter at this point. Don’t dodge doge.
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