![]() Contrary to Bitcoin which has a capped token supply of 21 million, Dogecoin employs an inflationary monetary model with no maximum supply. Despite their similarities, there are considerable differences in how the two coins approach their monetary policy. In this sense, Dogecoin is a lot like Bitcoin, as both blockchain networks natively support a very limited array of use cases - namely, a secure and decentralized platform for cryptocurrency transactions. ![]() In return for employing their computational power to secure the network and verify on-chain data, Dogecoin miners are compensated with DOGE tokens. The meme coin features an image of the Shiba Inu–a breed of hunting dog from Japan–from an internet meme that went viral in 2013.Īt its core, Dogecoin is a Proof-of-Work cryptocurrency, which means that it relies on a network of cryptocurrency miners to verify transactions and ensure all network participants are in agreement on the state of the distributed ledger.
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