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Brian
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$SHIB Vs. $DOGE How does $SHIB and $DOGE work? -DOGE DOGECOIN is a fork of LITECOIN and uses the same script proof of work mining algorithm for its blockchain. $DOGE and $LTC can both be mined using the same machine at no additional expense. This is thanks to “merged mining". Merged mining was introduced in 2015, because DOGE wasn’t profitable to mine on its own. Without this incentive, DOGE would have failed shortly after its release. Although DOGE was historically dependent on $LTC because of this, DOGECOIN price appreciation over the last year has made it very profitable to mine. If this continues, DOGECOIN could eventually become independent. DOGECOIN can process 30 transactions per second with transaction fees costly less than a few cents, and are usually confirmed within minutes. -SHIBA SHIBA INU doesn’t have its own blockchain. SHIBA INU’s ecosystem lives on Ethereum and $SHIB is an ERC-20 token. Ethereum currently uses a proof of work mining algorithm called “ETHASH” which allows it to process 15 transactions per second. SHIB transactions typically cost substantial USD to send (in comparison to DOGE) and are usually confirmed within a few minutes. SHIBA INU’s also has a governance token called “BONE” and a utility token called “LEASH”, which are a part of SHIBASWAP (SHIBA’s AMM DEX). SHIBASWAP currently has around $500 million USD of total value logged. Although it’s important to note that COINMARKETCAP says that its half ($250 million). SHIBASWAP sees around 3,000 traders per day. (Source: dapp.com) What are the Tokenomics of both SHIB and DOGE? -DOGE DOGE is used for tipping, and as payment by select markets. DOGE had a “fair launch”, this means that the community ( #dogearmy ) literally started from 0 and was mined into existence. DOGE’s initial admission was random and miners managed to manipulate DOGECOIN’s mining algorithm to receive maximum returns. DOGE developers changed this in 2014 so that 10,000 DOGE would be mined per block. This translates to an annual inflation rate of 4% (5.2 billion DOGE), which will decrease over time. DOGECOIN has an infinite supply, with that said almost half of its current supply resides in the top 100 wallets. The largest wallet holding 23.65% of all DOGE currently in circulation! Just so you understand how much control this ONE wallet has over DOGE, the second largest wallet only has 3.81%. There are 3.4 million DOGECOIN wallets. (Source: bitinfocharts.com) -This doesn’t take into the number of accounts on exchanges. Ex. $HOOD , #public -SHIBA SHIB is used on the SHIBASWAP DEX, and also as payment by select markets. 50% of SHIB’s max supply (1 quadrillion) was pooled with 10 ETH on UNISWAP (UNI) provided by the previously mentioned “successful businessman”. The liquidity keys to the SHIB / ETH pool were “thrown away”, this is essentially the closest thing to a “fair launch” for an ERC-20 token. The other 50% was sent to Vitalik Buterin (Creator of Ethereum). He later burned 80% and then donated the remaining 20% towards an India Covid relief fund. This leaves us with the remaining 600 trillion (almost), which is actually somewhat evenly distributed. The largest holder being the crypto .com exchange. There are over 900,000 SHIB wallets. (Source: Etherscan.com ) -Again, this doesn’t take into the number of accounts on exchanges. Ex. $HOOD , #public Sources - https://youtube.com/c/CoinBureau - woofpaper.org/https:// - foundation.dogecoin.com/ Did you know that you could be earning passive income from your $DOGE and $SHIB !? Check out Gemini Earn, where you could be earning 3.78% on DOGE! or Check out Crypto Earn, where you could be earning up to 2% on SHIB! (w/ 3 month lock up on a minimum 8 million SHIB) Use my referral code r4cspvet8z when signing up for Crypto .com, and we both get $25 USD! *rates may change* Have you seen the Gemini app? Try it using my code and we'll each get $10 USD of Bitcoin. - https://gemini.com/share/6nayqkrfe - #unbankyourself Not financial advice. DYOR. DCA. BTD. HODL. #crypto #cryptocurrency #bitcoin #ethereum #shib #shibaarmy #doge #dogecoin #dogearmy #learningtoinvest #learningaboutcrypto #possibilities #newinvestor #tech #technology #hodl #passiveincome #passiveinvestor #longterm #growth #learn2earn #shibainu
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