Connect with us

Blogs

Dogethereum: The Upcoming Hard Fork of Dogecoin

Published

on

Dogethereum
READ LATER - DOWNLOAD THIS POST AS PDF

The announcement that Dogecoin had become a test asset for inter-coin Rinkeby testnet of Ethereum had created quite a sensation in the cryptocurrency world.

Dogethereum (DOGX) is expected to form a separate chain by moving away from Dogecoin later in 2018. This would lead to the creation of the first hard fork of Dogecoin. Dogethereum shares the name with the Dogethereum Bridge also known as Rinkeby project. In February 2018, the developers of the truebit protocol had sent Dogecoins to the Rinkeby test network of Ethereum. It is considered to be a critical turn as it again brought Dogecoin in front of the investors and traders.

The cryptocurrency experts say that Dogethereum Bridge developed as a constituent of Ethereum’s truebit technology whose aim is to assist the largest altcoin scale to fulfill the demands of the user.

Dogethereum is new decentralized digital currency, it will be founded on a snapshot of popular Dogecoin, based on ETH algorithm with the fastest speed of transactions, smart contracts,” developers described on Bitcointalk.

Breaking down “Dogethereum”

The cryptocurrency developers will create Dogethereum on the powerful Ethereum algorithm due to its significantly high transaction speed. The developers have chosen the Ethereum platform also because of the availability and functionality of smart contracts. The objective of the company is to direct the present Doge currencies in another direction. The purpose is also to remove ASIC mining that will boost speed and also make it more navigable.

The Workings of Dogethereum (DOGX)

The cryptocurrency developers revealed that DOGX will not be pre-mined and even pre-sale(d). Therefore, people owning Dogecoin will receive Dogethereum in the ratio of 1:1. From the creators of DOGX, “Our goal is to give Doge currencies a completely new development vector, without mining on ASIC, but with speed and simplicity. The community manages the project, so there will be no ICO, no preliminaries, and no other manipulations.”

Dogethereum will retain some of the features from its parent Dogecoin after the hard fork occurs. Till now, the Dogecoin blockchain has proved to be a ‘trustworthy’ platform for the cryptocurrency investors and traders. Currently, according to coinmarketcap.com, the market cap of Dogecoin is approximately $399 million USD and the volume is $6 million USD. (As of 16th March 2018) The cryptocurrency traders/investors will get the same amount of DOGX that can be utilized on the Ethereum based wallets. The users will have the same ease of access and receive the same benefits.

The project has been completely fuelled by the community and does not have any ICOs (Initial Coin Offerings) or premiums. Neither does it contain any hidden fees, agendas or manipulations. Sources say that DOGX is in the hands of a highly specialized and trained team of cryptocurrency developers and real-time economists are closely following the activities so as to study the impact it will have on the cryptocurrency market. It is also said that commissions, fees, and stakes do not have any involvement or have been predefined.

The project will at least initially be free for everyone and will use GPU mining. The target is to increase the profits of the users. Real-time experience and application of their smart contracts in the cryptocurrency industry will decide the elevation in the token prices.

The idea initially, behind the Dogethereum project, was to bring all the dogecoins to the Ethereum network such that they will work as ER20 tokens till the time they return back to the Doge network. The cryptocurrency experts believe that after the discussed technology has been developed fully, 90% of the scalability issues of Ethereum will be solved. The success of this project will also mean that the users can use any token on any blockchain network. They will no longer require an exchange platform. Dogethereum will thus be launched with many new features in the cryptocurrency industry.

We will be updating our subscribers as soon as we know more. For the latest on DOGE, sign up below!

Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

Image courtesy of Danny James Ford via Flickr

Altcoins

KaratGold Proves Its Business Model By Providing Official Documents

Published

on

READ LATER - DOWNLOAD THIS POST AS PDF

There has been a lot of renewed enthusiasm in the cryptocurrency market thanks mainly to Bitcoin’s strong move about 10,000.  Although Bitcoin continues to show its dominance, the altcoin market has yet to benefit from that rally.  A few of the largest altcoins remain popular but the rest of the market continues to lag behind.  In 2018, there was a lot of talk regarding a possible altcoin apocalypse where only the strong would survive.  That prediction appears to be playing out as expected.  Going forward, only the best projects that have a real world need will survive.  Crypto traders will have to spend a lot of their time doing proper research in order to find the best opportunities, just like in all financial markets.  One promising project that appears to have the makings of a future winner is KaratGold Coin.

KaratGold Background

KaratGold Coin is a cryptocurrency developed by the reputable German company Karatbars International, which maintains a leading position in the market of small gold items and investments. The project is part of a larger ecosystem, which involves several blockchain solutions that can be used for transactions, communication, investing and other tasks. During the past few weeks, however, the KaratGold ecosystem has been a target of unsavory scam allegations.  

Karatbars International and GSB Gold Standard Banking Corporation…

Continue Reading

Altcoins

ICTE May Bring About Sweeping Changes for Cryptocurrency Exchanges

Published

on

READ LATER - DOWNLOAD THIS POST AS PDF

Cryptocurrency has taken the world by storm during the last few years. An entirely new financial market was created almost overnight which has captured the imagination of all its participants. Cryptocurrency is even starting to attract institutional money from investment banks, hedge funds, and other proprietary trading firms. Despite the rapid growth, traders remain extremely frustrated by having to deal with the fragmented nature of centralized crypto exchanges.

A Change is Needed

When cryptocurrency first began, there weren’t many participants and the trading volume was relatively insignificant. But, over time, that has radically changed. Some tokens now have a capitalization in the billions and are being traded 24-7 by institutions all over the world. Despite the volume, significant problems exist with the current way that exchanges work. Some of those problems include the following:

  • Constant fear of hackers
  • Exchange manipulation
  • Fragmented liquidity
  • Risk of identity theft

One of the biggest issues regarding centralized exchanges is the risk of being hacked. These hack stories seem to always be circulating around the internet. While experienced traders may have the tools to avoid becoming a victim, potential new traders have zero interest in dealing with this. And it’s not just the small exchanges that are at risk. Even large exchanges, such as Mt. Gox and Binance, are subject to being hacked.

Another huge risk is having to deal with…

Continue Reading

Altcoins

SonicX and Dash Could Challenge Facebook’s Libra for Global Payments Market Share

Published

on

SonicX
READ LATER - DOWNLOAD THIS POST AS PDF

When Satoshi Nakamoto unveiled Bitcoin to the world, the dream was always for Bitcoin to serve as a new universal currency.  It would be free from the bureaucracy of governments.  And free from the tyranny of the old-world financial cartels.  Although the dream hasn’t yet materialized, it comes closer and closer with each passing day.

One of the biggest roadblocks for Bitcoin has been scalability.  At a speed of approximately 7 transactions per second, Bitcoin lags behind other cryptocurrencies like Ripple and global payment processors like Visa.  Many expect the lightning network to have a positive impact on Bitcoin’s TPS but until that comes to fruition, mass adoption will likely need another significant development.

Libra Currency Announcement

One development that could help pave the way toward mass adoption is the launch of the Libra currency.  Libra is expected to go live during the first half of 2020 according to Facebook’s June announcement.  According to Facebook, Libra will make sending money online cheaper and faster.  It will also have a hand in improving access to financial services, especially for the unbanked.  Given Facebook’s global reach, including many third world countries, providing financial access to the unbanked could provide a huge spark to global economies.  Additionally, it could provide the growth spark that cryptocurrency needs.

Facebook’s most popular messenger, WhatsApp, has approximately 1.5 billion monthly users.  This application is…

Continue Reading

Elite