Dogecoin: The Most Honest Sh*tcoin

Dogecoin (Doge) emerged as the best performing crypto YTD on the back of a massive crypto price resurgence along with maniacal retail trading driven by mobile trading apps and Reddit trading ideas. In this report, we tell the story of this fictional crypto and explain why Dogecoin is one of the most interesting crypto phenomena, despite its shortcomings.

Very Currency, Much Coin

Dogecoin has always been a joke, and the jokes keep getting funnier. This Shiba Inu-themed cryptocurrency, whose community once funded the Jamaican bobsleigh team. Created in 2013-2014 to spoof the rise of Bitcoin and altcoins, this joke currency is now worth over $70 billion and has risen to the top of crypto lists thanks to massive trading volumes, growing ownership, and celebrity endorsements.

Dogecoin's appeal has always been in its honesty. "Dogecoin is an open-source digital currency bred by Shiba Inu dogs around the world," its official website proclaims. [1] Unlike many other crypto projects, Dogecoin does not aspire to be, or pretend to be, anything more than the most fun currency in the world. There is no grand vision, no statement about how Dogecoin will change the world. Dogecoin had a fair launch like Bitcoin, meaning there was no presale, no premining, no VC fundraising. As a result, there is no business development or marketing department promoting the currency for insider interests. It is ultimately a fork of Bitcoin, so while it is not revolutionary, at least the technology is known and trusted. It is not new: in fact, it is one of the oldest altcoins, older than Ethereum by over 1, 5 years. Of course, it is not as dramatic as Satoshi.

It has significant drawbacks: Dogecoin's growth is next to zero. Very few people are running full nodes, and those who are often having trouble with chaindowns and syncing with the network. There is no market infrastructure, almost no wallet software, and despite being over 7 years old, many exchanges still do not support Dogecoin. There is no long-term narrative or use case to support adoption, and it is unclear whether Doge holders are dogmatic about the currency's long-term prospects.

When we started writing this report, we expected to find what we always knew: that Dogecoin is a joke, not reliable, not robust, and not easy to adopt. But as we looked at the data, we found that despite its shortcomings, Dogecoin has very strong fundamentals and powerful forces behind its rise: a true origin story, longevity, and a growing community of users who seem determined to keep the Shiba Inu-themed global currency in existence. While we don't think Dogecoin will become the world's most valuable cryptocurrency anytime soon, you shouldn't ignore Doge.

In this report, we tell the story of Dogecoin and provide insight into its use, development, and maturation from a middlingly funny joke to a timeless joke that is the most widely adopted satirical currency in the world.

DOGE Barks at the Moon

In 2021, the best-performing digital asset market is not a serious project like Bitcoin or Ethereum, but one of the oldest currencies in the space: Dogecoin (Doge). Doge is the fourth largest digital asset by market capitalization at over $70 billion, with an astounding 9537% YTD growth at the time of writing.

Stream data as of 10:00 AM 04/21/05

Dogecoin is not thinly traded. Trading volume has skyrocketed, with $70 billion traded on its busiest day. Even in the past 24 hours, $150B of Dogecoin has been traded on the world's most trusted exchanges, compared to $100B for BTC and $22B for ETH [2].

Prices as of 10:00 AM. Volume as of the close of trading on 01/21/05.

The History of the Doge

Starting Dogecoin

Dogecoin was founded in 2013 by Jackson Palmer, then a marketing employee at Adobe Systems, and Billy Markus, then a software engineer at IBM. The two literally created the coin as a joke in the spirit of "Doge," a popular internet meme at the time. The Doge Meme featured an image of a Shiba Inu in a kitchen with colorful text in Comic Sans font depicting the dog's inner monologue.

The first public mention of Dogecoin was on November 28, 2013 when Jackson Palmer tweeted, "Let's invest in Dogecoin, it will definitely be the next big one." (Palmer later deleted Twitter accounts and almost disappeared from the Internet). Palmer later registered with www. Dogecoin. com on December 4, 2013, and is still providing introductory materials for new users. DOGECOIN's Genesis block was mined two days later on December 6th, and DOGE's firs t-known price was set at $ 0, 001540753 on January 23, 2014. [3]

Dogecoin design. Dogecoin is a Luckycoin code base fork, Luckycoin is a junkcoin code base fork, and litecoin is a bitcoin code base fork. Dogecoin was initially released using the Script hashed function for the proof of work consensus algorithm, but was integrated with Litecoin in late 2014. This means that LiteCoin Scrypt minor can miner Dogecoin at the same time without additional costs. "I tweeted on Thursday (to Palmer), completed coins on Saturdays, and released on Sunday," after seeing Palmer's www. dogecoin. com. Palmer said, "Initially, I thought it would be popular on social media, a minor would gather in half fun, and then calm down, but it was very interesting. From a humorous view of cryptocurrency. , Basically, it became the mainstream of this problem. "[4] [4]

Early growth in social media. R/Dogecoin Subredit was created on December 8, 2013, and someone first posted: "Let's post the address here and share or request DOGECOIN." [5] In 2014, just a few months after the founding block, more than 35. 000 members of DOGECOIN subredit. Currently, the number of registrants of R/Dogecoin exceeds 1. 6 million, less than 2. 8 million in R/Bitcoin, but twice the R/Ethernereum 821k. Later, as a reward for hig h-quality posts, a "bot chip" was created in which Reddit users can send DOGE. "Most people using Reddit had DOGECOIN," Palmer told Cnet. [6]

Donation Doge In 2014, the Jamaican bobsled team qualified for the Winter Olympics for the first time in 10 years, but they lacked the funds to participate. The Dogecoin community, who were fans of the movie Cool Runnings, decided to post Doge addresses to solicit donations from the community. In just a few hours, #coolrunnings2 raised $30, 000 worth of Doge to support the effort. Later that year, the community rallied again, this time following a suggestion from a Reddit user, to support underdog Jason Wise racing in several NASCAR Cup Series events. [7]

During the first year, the Dogecoin community sponsored several other charitable efforts, including supporting the people of Kashmir (Doge4kashmir), primary education in Cambodia (Cesheo), and access to clean water (Doge4Water). The donation tray symbolized the Dogecoin community's early ethos of humor, humor, and charity. Palmer and Marcus didn’t create Dogecoin because they wanted to be crypto founders or get rich, and the community didn’t expect any profits.

Speculation Begins Dogecoin began just as Bitcoin was hitting new highs in all bull markets ahead of its 2017 expansion. Bitcoin peaked at $1. 156. 14 on November 30, just two days after Palmer tweeted, “Investing in Dogecoin, sure to be the next big thing.”

By the end of Dogecoin’s first year, at least 33 exchanges had added Doge Trading to their platforms. Our research shows that only five of these exchanges are still operating today (in order of Dogecoin registration): poloniex (2014-01-22), Bittrex (2014-02-13), Kraken (2014-02-20), HITBTC (2014-06-03), and cex. io (2014-08-20).

Founders leave As Dogecoin became more prevalent in the crypto exchange ecosystem, the founders grew frustrated. It had become a speculative tool and was no longer the "fools' crypto" it was intended to be. The founders abandoned the project, with Marcus stating: "When someone puts $20, 000 into it... it makes me really, really uncomfortable. I don't want to be a cult leader."[8] "8] On June 24, 2014, Palmer was logged out of the r/Dogecoin subreddit. In 2015, Palmer announced that he was "taking an extended leave of absence" from the crypto community, calling the ecosystem "toxic".[9] Whether or not for Dogecoin-related reasons, Palmer later deleted his YouTube and Twitter accounts entirely.

Development Doge is a Luckycoin fork, a junkcoin fork, and a bitcoin fork, a folk of Litecoin. The figure below is incomplete, but indicates the position of Dogecoin in many of the bitcoin.

Many Dogecoin's core architectures, such as the use of script language and unusual transaction output (UTXOS), are ultimately inherited from Bitcoin. The network was initially mined in Scrypt, an indirect function derived from Litecoin, and had a random block reward, a function inherited from a lucky coin. [10] In the early stages of coins, a network was forced to enable merging mining with Litecoin and replaced random block rewards with fixed rewards.

The Year of the Doge

The basic code of Dogecoin has been left for several years, and there is little development on this coin. One of the infamous software built on Dogecoin is TrueBit's Dogethereum Bridge [11]: The purpose of this project is to connect DOGE to ETH scale, and to test TrueBit's scaling solution. It was to play a role. [12] This project seems to be no longer active.

As with many altcoins in Elon, Dogecoin has stayed for years, despite the low usage rates and viral interests from the community. Until April 2, 2019, the current DOGECOIN champion did not clarify his opinion. Tesla and SPACEX CEO, Elon Musk, responded to the request of someone from the@Dogecoin's official Twitter account to be "CEO" and "I want you to lead us to the future." In response, Elon said, "Dogecoin may be my favorite encryption. It's very cool. He posted about Dogecoin many times on that day and finally became the" CEO ".

Cobid, Crypto, and Elon Musk. A few years later, 2020. People looked at new television programs such as Tiger King, used Zoom to contact friends and family, and adopted a social media platform like Tiktok to share Myers and humor.

The third half of the bitcoin occurred when the global financial authorities decided to relax unprecedented. Half a reduction, the timing of issuance of bitcoin was reduced at a great time to create contrast with the central bank's actions, which helped to distinguish the BTC as a macro asset. A financial mouth was opened worldwide to stop the decline in unemployment. Mobile apps like Robinhood, which supports Dogecoin transactions, have increased significantly at retailers.

At the same time, the CEO appointed by the Dogecoin community began posting powerful tweets about DOGE. The following are the world's richest men in the world and the 23rd Twitter account (52. 4 million), the most viral Dogecoin tweet sample of Dogecoin Tweet.

Dogecoin Metrics

The price of Dogecoin often rises on the day Musk tweeted about Dogecoin. The recent samples are shown below:

Check the chain data to understand the status of the Dogecoin network and its adoption.

Recruitment of users among the bullruns, both the total number of addresses and the number of active addresses are increasing, indicating that the spread is progressing. The 3 0-day moving average of the number of active addresses has surpassed the second 100, 000 addresses in 2021, and is now around 115, 000 addresses per day. There are about 30 or 6 million addresses with many DOGEs.

Dogecoin supply. With a permanent fixed subsidy paid almost every minute per block, DOGECOIN's supply has increased 144 million DOGEs per day and 5. 2 billion DOGE per day. Dogecoin's final supply is infinite without halving, but the annual inflation rate decreases as the supply increases.

The third half of the current data < SPAN> Bitcoin until 05/03/21 occurred when the global financial authorities decided to relax unprecedented. Half a reduction, the timing of issuance of bitcoin was reduced at a great time to create contrast with the central bank's actions, which helped to distinguish the BTC as a macro asset. A financial mouth was opened worldwide to stop the decline in unemployment. Mobile apps like Robinhood, which supports Dogecoin transactions, have increased significantly at retailers.

At the same time, the CEO appointed by the Dogecoin community began posting powerful tweets about DOGE. The following are the world's richest men in the world and the 23rd Twitter account (52. 4 million), the most viral Dogecoin tweet sample of Dogecoin Tweet.

The price of Dogecoin often rises on the day Musk tweeted about Dogecoin. The recent samples are shown below:

Dogecoin supply. With a permanent fixed subsidy paid almost every minute per block, DOGECOIN's supply has increased 144 million DOGEs per day and 5. 2 billion DOGE per day. Dogecoin's final supply is infinite without halving, but the annual inflation rate decreases as the supply increases.

Recruitment of users among the bullruns, both the total number of addresses and the number of active addresses are increasing, indicating that the spread is progressing. The 3 0-day moving average of the number of active addresses has surpassed the second 100, 000 addresses in 2021, and is now around 115, 000 addresses per day. There are about 30 or 6 million addresses with many DOGEs.

Dogecoin supply. With a permanent fixed subsidy paid almost every minute per block, DOGECOIN's supply has increased 144 million DOGEs per day and 5. 2 billion DOGE per day. Dogecoin's final supply is infinite without halving, but the annual inflation rate decreases as the supply increases.

The third half of the current data bitcoin until 05/03/21 occurred when the global financial authorities decided to relax unprecedented. Half a reduction, the timing of Bitcoin was reduced at a great time to create contrast with the central bank's actions, helping to distinguish the BTC as a macro asset. A financial mouth was opened worldwide to stop the decline in unemployment. Mobile apps like Robinhood, which supports Dogecoin transactions, have increased significantly at retailers.

Dogecoin supply. With a permanent fixed subsidy paid almost every minute per block, DOGECOIN's supply has increased 144 million DOGEs per day and 5. 2 billion DOGE per day. Dogecoin's final supply is infinite without halving, but the annual inflation rate decreases as the supply increases.

The price of Dogecoin often rises on the day Musk tweeted about Dogecoin. The recent samples are shown below:

Dogecoin supply. With a permanent fixed subsidy paid almost every minute per block, DOGECOIN's supply has increased 144 million DOGEs per day and 5. 2 billion DOGE per day. Dogecoin's final supply is infinite without halving, but the annual inflation rate decreases as the supply increases.

Recruitment of users among the bullruns, both the total number of addresses and the number of active addresses are increasing, indicating that the spread is progressing. The 3 0-day moving average of the number of active addresses has surpassed the second 100, 000 addresses in 2021, and is now around 115, 000 addresses per day. There are about 30 or 6 million addresses with many DOGEs.

Dogecoin supply. With a permanent fixed subsidy paid almost every minute per block, DOGECOIN's supply has increased 144 million DOGEs per day and 5. 2 billion DOGE per day. Dogecoin's final supply is infinite without halving, but the annual inflation rate decreases as the supply increases.

Current data until 05/03/21

At the same time, the CEO appointed by the Dogecoin community began posting powerful tweets about DOGE. The following are the world's richest men in the world and the 23rd Twitter account (52. 4 million), the most viral Dogecoin tweet sample of Dogecoin Tweet.

04/29/21 Current data

Trading index. The number of transactions is generally increasing through the history of the network, and recent price movements are consistent with the execution of chain activities.

05/03/21 The latest data at the end of

Reflecting the rise in prices and activities, the remittance and fees to US dollars are increasing.

05/03/21 Current data

Mining. DOGE merges with LTC-as a result, the network draws security from LiteCoin. Currently, almost all miners of Litecoin are mining DOGE.

• 05/03/21 Current data
• Historically, the income of DOGE has been functioning as a small subsidy source of minor Litecoin, which has a low limit cost. According to recent price movements, miners are more likely to earn by merging DOGE than earning with LTC mining.
• 05/03/21 Current data

With the rise in DOGE prices, Litecoin also moved to the market cap. As far as we know, this is the first case that the merged coin overtains the base currency with a total amount.

05/03/21 Current data

Litecoin and Dogecoin use Scrypt Proof-of-Work algorithm. As the profitability of Litecoin and Dougcoin's united mining has dramatically increased from the beginning of the year, the price of the SCRYPT mining framework in the secondary market is soaring. According to the Hashrate index, the average price of BitMain Antminer L3, a common Script minor, has risen from $ 83, 26 to $ 547, 71.

Comparing Dogecoin to Bitcoin

04/29/21 Current data

Unlike Bitcoin's SHA-256D mining platform, Scrypt's mining engine is usually made of old process nodes. Therefore, manufacturers do not need to aggressively assign with hardware manufacturers in other industries. As demand and available capacity are increasing, even if Bitcoin hash rate is facing the supply chain restrictions, more SCRYPT minor will be built and the hash rate of light coins and dogcin will increase. It is expected.

Developer activities. Dogecoin's activities in GitHub repositories have basically not existed since 2017, suggesting that the development efforts of the project are generally lacking. Whether the revival of currency leads to increasing the interest of developers is an unresolved matter. Dogecoin's Chief Mentener Los Nicole recently suggested that COINDESK said, "There is a focus of attention and I want to continue to operate currency." [14] [14]

Current data until 05/02/21

As of May 3, 2021, 1. 195 nodes that are running on the network are running 30 different types of nodes. The latest stable version, SHIBETOSHI V. 1. 14. 3, accounts for 56. 1%of the network, and the previous version V. 1. 14. 2 accounts for 28. 6%. At the time of writing this article, only 321 (26, 8%) at the end of the chain (completely synchronously synchronized with the network), and 22%are synchronized within 5 blocks from the end of the chain. I'm doing it. As a whole, only 48, 8%of Dogecoin nodes synchronize within 5 blocks from the end of the chain at the time of writing, and more than half of the nodes are more than 5 blocks.

Dogecoin supply. With a permanent fixed subsidy paid almost every minute per block, DOGECOIN's supply has increased 144 million DOGEs per day and 5. 2 billion DOGE per day. Dogecoin's final supply is infinite without halving, but the annual inflation rate decreases as the supply increases.

Dogecoin's weak node topology shows some serious drawbacks:

Dogecoin's block time is one minute, so most nodes are a hurdle that can hardly be overcome.

Dogecoin supply. With a permanent fixed subsidy paid almost every minute per block, DOGECOIN's supply has increased 144 million DOGEs per day and 5. 2 billion DOGE per day. Dogecoin's final supply is infinite without halving, but the annual inflation rate decreases as the supply increases.

Dogecoin supply. With a permanent fixed subsidy paid almost every minute per block, DOGECOIN's supply has increased 144 million DOGEs per day and 5. 2 billion DOGE per day. Dogecoin's final supply is infinite without halving, but the annual inflation rate decreases as the supply increases.

The last point is especially helpful. As interest in Dogecoin grew in the first quarter of 2021, many new users tried to download and run a Dogecoin node but encountered difficulties. On January 5, GitHub user jrkenn opened an issue in the Dogecoin repository complaining that the "Dogecoin kernel still doesn't work."[15] The user explained that despite having a "1 gig connection" and "bypassing the router" and putting the node "directly on the Internet," he saw no improvement in network synchronization. After running the node "for 24 hours," the user said he saw "no change." Many other users have also reported the same issue on both GitHub and Reddit.

Dogecoin supply. With a permanent fixed subsidy paid almost every minute per block, DOGECOIN's supply has increased 144 million DOGEs per day and 5. 2 billion DOGE per day. Dogecoin's final supply is infinite without halving, but the annual inflation rate decreases as the supply increases.

As with GitHub and Reddit users, to successfully sync, I was forced to manually enter an IP list extension of known (i. e. trusted) Dogecoin nodes that have the full blockchain and are accessible enough to sync fully. Even then, I was unable to sync fully in time. If I was running a Dogecoin node for the purpose of sending and receiving transactions, I would increase the required confirmation time due to latency issues and inefficiencies in the peer-to-peer network.

Dogecoin supply. With a permanent fixed subsidy paid almost every minute per block, DOGECOIN's supply has increased 144 million DOGEs per day and 5. 2 billion DOGE per day. Dogecoin's final supply is infinite without halving, but the annual inflation rate decreases as the supply increases.

Lack of infrastructure. Dogecoin has no powerful market infrastructure. There are no organizational custodians, brokers, and Dogecoin lenders. Trezor and Ledger support Dogecoin's sel f-currency through hardware wallet products, but Dogecoin generally lacks a strong ecosystem of sel f-currency and DOGE spending.

Dogecoin supply. With a permanent fixed subsidy paid almost every minute per block, DOGECOIN's supply has increased 144 million DOGEs per day and 5. 2 billion DOGE per day. Dogecoin's final supply is infinite without halving, but the annual inflation rate decreases as the supply increases.

Dogecoin supply. With a permanent fixed subsidy paid almost every minute per block, DOGECOIN's supply has increased 144 million DOGEs per day and 5. 2 billion DOGE per day. Dogecoin's final supply is infinite without halving, but the annual inflation rate decreases as the supply increases.

Recruitment of users. The number of addresses holding bitcoin is higher than the number of addresses owned by DOGECOIN. More addresses are interacting with bitcoin blockchain every day.

The latest data until the end of today 05/03/21

Dogecoin supply. With a permanent fixed subsidy paid almost every minute per block, DOGECOIN's supply has increased 144 million DOGEs per day and 5. 2 billion DOGE per day. Dogecoin's final supply is infinite without halving, but the annual inflation rate decreases as the supply increases.

DOGECOIN has no upper limit for supply, and the current annual inflation rate of assets is much higher than bitcoin.

Current data until the end of 05/03/21

Current data until the end of the day 05/03/21

The distribution of concentrated DOGE fees for property is greatly biased toward the maximum holder. This is contrasting that bitcoin is much dispersed.

The latest data until the end of today 05/03/21 < SPAN> Lack of infrastructure. Dogecoin has no powerful market infrastructure. There are no organizational custodians, brokers, and Dogecoin lenders. Trezor and Ledger support Dogecoin's sel f-currency through hardware wallet products, but Dogecoin generally lacks a strong ecosystem of sel f-currency and DOGE spending.

An unpretentious community. Currently, Dogecoin investors are mainly individual investors and recent investors. In the previous cryptographic era, DOGECOIN owners were composed of sophisticated bitcoiners and cryptocurrency enthusiasts who prefer jokes, but today's market is an individual led by access to platforms such as unit bias and Robinhood. It is dominated by investors.

Lack of growth. Dogecoin has not seen the prominent developers activities in recent years. Bitcoin development ecosystem is thriving, and major developers are often subsidized by individuals, no n-profit organizations and large companies.

Conclusion

Recruitment of users. The number of addresses holding bitcoin is higher than the number of addresses owned by DOGECOIN. More addresses are interacting with bitcoin blockchain every day.

• The latest data until the end of today 05/03/21
• Supply and inflation Dogecoin initially intended to limit the supply, like bitcoin. However, early in the history of the network, the members of the community noticed that the supply restrictions were not corrected due to the cord bugs and there were no restrictions on future supply. Instead of modifying bugs and splitting the network, the community moved to avoid limiting items. [19]
• DOGECOIN has no upper limit for supply, and the current annual inflation rate of assets is much higher than bitcoin.
• Current data until the end of 05/03/21
• Current data until the end of the day 05/03/21
• The distribution of concentrated DOGE fees for property is greatly biased toward the maximum holder. This is contrasting that bitcoin is much dispersed.

Lack of the latest data 05/03/21 infrastructure today. Dogecoin has no powerful market infrastructure. There are no organizational custodians, brokers, and Dogecoin lenders. Trezor and Ledger support Dogecoin's sel f-currency through hardware wallet products, but Dogecoin generally lacks a strong ecosystem of sel f-currency and DOGE spending.

• An unpretentious community. Currently, Dogecoin investors are mainly individual investors and recent investors. In the previous cryptographic era, DOGECOIN owners were composed of sophisticated bitcoiners and cryptocurrency enthusiasts who prefer jokes, but today's market is an individual led by access to platforms such as unit bias and Robinhood. It is dominated by investors.
• Lack of growth. Dogecoin has not seen the prominent developers activities in recent years. Bitcoin development ecosystem is thriving, and major developers are often subsidized by individuals, no n-profit organizations and large companies.
• Recruitment of users. The number of addresses holding bitcoin is higher than the number of addresses owned by DOGECOIN. More addresses are interacting with bitcoin blockchain every day.
• The latest data until the end of today 05/03/21
• Supply and inflation Dogecoin initially intended to limit the supply, like bitcoin. However, early in the history of the network, the members of the community noticed that the supply restrictions were not corrected due to the cord bugs and there were no restrictions on future supply. Instead of modifying bugs and splitting the network, the community moved to avoid limiting items. [19]
• DOGECOIN has no upper limit for supply, and the current annual inflation rate of assets is much higher than bitcoin.
• Current data until the end of 05/03/21

Current data until the end of the day 05/03/21

The distribution of concentrated DOGE fees for property is greatly biased toward the maximum holder. This is contrasting that bitcoin is much dispersed.

References

1. The latest data until the end of today 05/03/21
2. Compared to other large assets, Dogecoin's feed spread falls in the middle. As measured by ownership percentage, Dogecoin is more evenly distributed than newer assets like XRP, UNI, and DOT. Ownership percentage (SER) is a metric that attempts to calculate the level of inequality in asset ownership by dividing the total supply held by the smallest holders (all together) by the largest accounts (the amount held by 1% of accounts). By this metric, Doge's trails ETH and (especially) BTC in ownership distribution, and is slightly more concentrated than LTC and ADA.
3. Data as of 05/03/21.
4. Transaction metrics. The Bitcoin network dominates Dogecoin in both transaction count and daily transfer value. This is not surprising, as it has a highly developed ecosystem of wallets, merchants, exchanges, and Bitcoin instances.
5. Data as of 05/03/21
6. Data as of 05/03/21
7. Extract. Using SHA-256D and Scrypt Hashpower values ​​from the hashrate marketplace NiceHash[20], howmanyconfs. com estimates that the hourly cost of accelerating Bitcoin by 51% is 11 times higher than the cost of attacking Litecoin. [21] This pattern also applies to Dogecoin, as it will merge with Litecoin. There are some methodological issues with this estimate, but the general consensus is that Bitcoin transactions are settled much faster than Litecoin and Dogecoin transactions, despite the network's shorter block times.
8. Data as of 05/03/21
9. Data as of 05/03/21
10. Dogecoin and Litecoin have a higher inflation rate than Bitcoin, so attackers can also recoup more of their costs by selling the coins they mine. This problem is exacerbated by the Networks' little-known coinbase maturity parameter, which is set to 100 blocks for Bitcoin[22] and Litecoin[23] and 30 blocks for Dogecoin.[24] Bitcoin has a 10-minute block time, so if an attacker controls just over half of the hash power already online, they would have to wait about 33. 3 hours before spending their mining funds. With a 2. 5-minute block time for Litecoin, it would take 8. 3 hours, and with a 1-minute block time for Dogecoin, it would only take 1 hour.
11. Doge's newly mined coins mature faster, so the collateral damage of an attack on Dogecoin is also greater. Funds sent by miners during the attack window can evaporate and quickly change recipients. A relatively shallow 51% attack on Doge could lead to a permanent loss of funds, even if both sender and receiver acted honestly.
12. Bitcoin offers stronger settlement guarantees. With a 51% attack less than 100 blocks deep, transactions sent by honest actors will eventually settle and receivers will be made whole.
13. Money flexibility. Dogecoin's ridiculously short maturity window was not just a strange design choice made by the asset creators. Dogecoin originally started as an independently mined asset with a random block reward ranging from zero to 1 million Doge. [25] However, the source of this randomness was the hash of the previous block, so it was possible for miners to know in advance the reward of the block they mined.
14. Some miners, such as F2Pool, only use this feature on mining blocks that have an above-average reward. [26] After this was pointed out in a Reddit post by u/paul_miner[27], the community moved to fork the network to remove the random reward blocks.
15. The decision to adjust an important parameter like the block reward should not be taken as probable: while the total expected output remains the same, this change fundamentally alters the mining economics of the network.
16. Bitcoin has also seen changing the use r-based use r-based on the economy of base layers through the introduction of the most famous Segregated Witness (Segwit). However, unlike the migration to block rewards, Segwit only affected network reward economics and did not affect the speed of new coins.
17. Dogecoin is one of the oldest cryptocurrencies, and was founded by two world citizens, who only liked good jokes before the two market cycles. The two were connected by humor, connected via the Internet, and grew outdoors. For many years, the coins have survived, despite the outflow of founders, the lack of network topology, lack of growth, and seemingly poor. However, looking back on Dogecoin in 2021, it can be surprising about DOGE:
18. Dogecoin is the main digital asset this year.
19. Unprecedented people have DOGE.
20. The number of addresses to interact with Dogecoin blockchain is unprecedented.
21. The Dogecoin network has a lot of value as ever.
22. It is as beneficial to mining DOGE (and my own LTC and DOGE).
23. Dogecoin and Litecoin have a higher inflation rate than Bitcoin, so attackers can also recoup more of their costs by selling the coins they mine. This problem is exacerbated by the Networks' little-known coinbase maturity parameter, which is set to 100 blocks for Bitcoin[22] and Litecoin[23] and 30 blocks for Dogecoin.[24] Bitcoin has a 10-minute block time, so if an attacker controls just over half of the hash power already online, they would have to wait about 33. 3 hours before spending their mining funds. With a 2. 5-minute block time for Litecoin, it would take 8. 3 hours, and with a 1-minute block time for Dogecoin, it would only take 1 hour.
24. However, Dogecoin is still insufficient compared to bitcoin:
25. Bitcoin is the most widespread and is the most concentrated digital assets.

Bitcoin is much more useful than Dogecoin, the number of active addresses per day is one digit, and the number of transactions per day is more than six times.

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Bitcoin carries and regulates a few digits per day than Dogecoin.