The comparison of these two notions is a complex task. If you want to get the difference between them, you should first define each of the aspects. When you grasp what DOGE is, you can differentiate it from blockchain technology. Let’s start our comparison to make things clear to you.
DOGE Phenomenon: What’s behind the Coin?
You can exchange the coin, swap doge to shib, or buy digital money according to the current rate. But you won’t win this game unless you have a clear understanding of the essence of the coin. What’s DOGE? This is a cryptocurrency that differs from other coins. It has a nice story behind the coin. Some time ago, in 2014, there was a meme with a dog. It displayed a Shiba Inu dog, and it was supposed to be a pun. But the situation turned out to be more serious.
A group of enthusiasts gathered together to sponsor the journey of an athlete to the Olympics. It was the start of the coin on the market. Although it started as a joke, today, this coin has a promising future and lots of followers in the trading industry. Musk also mentioned a few words about the coin and named it a people’s coin. He also promised to send a physical DOGE coin to the moon when he gets there. Do you want an instant cryptocurrency exchange online? Now you can use this coin for money operations, too.
Why Blockchain Technology?
Now you know what DOGE is. But what about blockchain technology? How does it relate to the coin, and what’s common between them? To answer this question, we should describe in detail how the coin works. DOGE is a coin that runs a similar algorithm, the same as BTC or ETH. It is based on blockchain technology. What’s blockchain? Let’s take a closer look at the notion.
In short, blockchain is a digital ledger. It is a well-secured tool. It is aimed at providing digital currency transactions. In most cases, it must be a decentralized currency. To ensure the safety of the transactions, DOGE blockchain technology makes use of cryptography.
Doge Mining: Is It Worth It?
When you deal with blockchain technology, you may also come across miners. Who are miners? These are special experts that deal with high-complex technology. They work with computers to solve different kinds of equations. It is important to have the necessary hardware and practice skills to mine the coins.
You can mine coins, but it isn’t the most effective way of spending your time. You should know how to use the coins effectively. In most cases, traders manage different payment transactions with the coin. They either buy something or sell it. But storing the coin isn’t the best way for traders. The coin is said to be at the risk of inflation. So, it isn’t the best store of value. But it has other advantages that can make you use the coin more often. Dogecoin isn’t a joke anymore. It is a promising asset if you know how to use it right. Being the fifth largest coin, it has become a popular investment among the cryptocurrency ecosystem. And you should also enter the move.