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The Improbable Hero of Crypto World: A Look at Dogecoin’s (DOGE) Future in the Market
From the moment when cryptocurrencies first appeared led by Bitcoin (BTC), there have been many altcoins which wanted a part of the glory. An innumerable amount of them failed and was pushed aside while the lucky few managed to carve their way through the crypto market. However, among those strong and powerful cryptos, there is also one that came to be as a joke but still manages to survive in the harsh crypto-environment.
What is Dogecoin (DOGE)
Dogecoin (DOGE) is one of the many, many cryptocurrencies that came to be since the crypto fever began. It was created back in 2013 by Jackson Palmer, and it has seen its fair share of ups and downs.
The interesting thing about this crypto is that it first came out as a joke, a response to a Doge meme that was popular back then. Even so, it managed to do something that some professionally designed altcoins did not – it survived.
There are multiple reasons why this particular crypto managed to live as long as it has. For example, it is very practical. It can be accessed through micro-wallets and faucets, and transactions are very cheap, especially when compared to other cryptos like Bitcoin. Besides being cheap, transactions are also very fast.
Another thing that makes this crypto popular is the fun atmosphere that surrounds it. It is a good way to enter the crypto world, and very easy and cheap to mine. This is an obvious advantage over other cryptos which require a lot of resources and even entire mining pools for a single coin.
There are many other reasons why this coin is still alive, including popularity in the east, particularly in China, its close proximity to Litecoin and Bitcoin, as well as great stability and distribution. However, one of its biggest advantages includes a pretty big, still alive and interested community.
Dogecoin still has supporters
As mentioned previously, the coin was present on the crypto market since 2013. This has given it five long years to establish its community, and the coin’s fun nature has done just that. There have been speculations whether its popularity owes its success to the fact that the coin is stable and practical, or if its connection to the online culture is to be blamed.
Whatever it is, Doge has done quite well for itself in terms of its supporters and enthusiasts. It still has a large presence on social networks to this day, and that includes Reddit, Twitter, Bitcoin Talk Forum, and GitHub.
Dogecoin’s coin supply is uncapped, and the coin doesn’t have a real limit. Despite the fact that it is one of Litecoin’s forks, it has a few more parameters that are making it different from LTC. One example is also its block time, which is 2 minute for Doge, and 2.5 minutes for Litecoin (LTC).
Thanks to its inflationary nature, however, this coin might not be the best choice for investors, since there is no guarantee for a return on the investment. Another con when it comes to Dogecoin is that it has become somewhat directionless since its creator left the crypto world. No real work has been done on this coin in a while, and even though some see it as a good thing and a perfect opportunity to buy coins before the updates catch up with it, there is still no guarantee that it will ever be updated.
This crypto has a lot of potentials, that much is not being questioned. However, it would need a strong leadership and some serious work in order for it to become great again. If it could manage to secure that, it might recover from the October’s shakedown which damaged it a lot. Not only that, but it might also rise to become one of the most popular currencies on the market.
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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.
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Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //
Xeno Holdings Limited (xno.live ), a blockchain solutions company based in Hong Kong, has announced the listing of its ecosystem utility token XNO on the ‘Bithumb Korea’ cryptocurrency exchange on January 21st 2021.
Xeno NFT Hub (market.xno.live ), developed by Xeno Holdings, enables easy minting of digital items into NFTs while also providing a marketplace where anyone can securely trade NFTs.
The Xeno NFT Hub project team includes former members of the technology project Yosemite X based in San Francisco and professionals such as Gabby Dizon who is a games industry expert and NFT space influencer based in Southeast Asia.
NFT(Non-Fungible Token) technology has recently gained huge focus in the blockchain arena and beyond, making waves in the online gaming sector, the art world, and the digital copyrights industry in recent years. The strongest feature of NFTs is that “NFTs are unique digital assets that cannot be replaced or forged”. Unlike fungible tokens such as Bitcoin or Ether, NFTs are not interchangeable for other tokens of the same type but instead each NFT has a unique value and specific information that cannot be replaced. This fact makes NFTs the perfect solution to record and prove ownership of digital and real-world items like works of art, game items, limited-edition collectibles, and more. One of the ways to have a successful…
2020 has been an incredible year for crypto as investors have generated windfall profits and crypto projects have seen their businesses gain the spotlight they’ve been looking for. While Bitcoin has received most of the attention after major institutional investors announced they were accumulating the increasingly scarce asset, many altcoins have also seen their fair share of glory. When looking at all the big winners of the past year, the first project that probably comes to mind is Chainlink, having appreciated by more than 550% YTD and now valued at over $4.5 billion. But, the actual biggest winner of the year is HEX with a YTD return of over 5,000%.
I mention both of the above projects as they have each taken slightly different paths to achieve greatness. Chainlink has devoted resources toward building a fundamentally sound business with many strategic partnerships while HEX has spent vast sums of money on marketing and promotion. Both approaches are valid, but one thing is certain, it is absolutely imperative for crypto projects to let the crypto community know what makes them special. Of course, one of the reasons that makes crypto so valuable is the powerful blockchain technology that most projects are utilizing.
Cryptocurrency vs. Blockchain Technology
It’s important to make a distinction between blockchain technology and cryptocurrency. Although they are often used interchangeably, they are different. Blockchain technology and crypto were both created after the 2008 financial crisis, but cryptocurrency…
Altcoins
XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata
Hong Kong, Hong Kong, 24th December, 2020, // ChainWire //
The XENO NFT Hub (https://xno.live) will provide a crypto-powered digital items and collectables trading platform allowing users to create, buy, and sell NFTs. Additionally it will support auction based listings, governance and voting mechanisms, trade history tracking, user rating and other advanced features.
As a first step towards its fully comprehensive service, XENO NFT Hub launched a recent VIP service to select users and early adopters in December 2020 with plans for a full Public Beta to open in June 2021.
“NFTs are extremely flexible in their usage, from digital event tickets to artwork, and while NFTs have a very wide spectrum of uses and categories XENO will initially focus its partnership efforts and its own item curation on three primary areas: gaming, sports & entertainment, and collectibles.”, said XENO NFT Hub president Anthony Di Franco.
He also added “This does not mean we will prohibit other types of NFTs from our ecosystem However, it simply means that XENO’s efforts as a company will be targeted into these verticals initially as a cohesive business approach.”
Development and Procurement Lead, Gabby Dizon explained, “Despite our initial focus, we found ourselves with a unique opportunity to host some of the works of Mr. Hiro Yamagata. We are collaborating with Japanese artist Hiro Yamagata to enshrine some of his artwork into NFTs.”
Mr. Yamagata has…
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