5 Facts About Dogecoin and Tron
Brief overview of Dogecoin
In 2013, Dogecoin (DOGE) was created as a fun alternative to traditional cryptocurrencies such as Bitcoin. A meme inspired the name and Shiba Inu logo. Unlike Bitcoin, which was designed to be scarce, Dogecoin is designed to be plentiful, with 10,000 new coins mined every minute and no maximum supply.
History of Dogecoin
Dogecoin was created as a joke in late 2013 by software developers Billy Marcus and Jackson Palmer, who were Reddit friends who had never met in person. They combined two popular themes in their online community at the time: the ascendant cryptocurrency Bitcoin and a meme depicting a Shiba Inu and a misspelled version of the word “dog.”
To the surprise of its creators, Dogecoin took off almost immediately, with dogecoin.com receiving over a million visitors in the first month. Part of what made Dogecoin so amusing was that it was (and still is) a full-fledged cryptocurrency with its own blockchain and a mining system similar to Litecoin’s. DOGE’s historically low prices (for much of its life, you could get it for fractions of a penny) and abundance have recently made it appealing to speculators hoping for a price increase.
5 Facts about Dogecoin
- Dogecoin’s Founder Sold All His Doge
Billy Markus stated on Twitter that he is no longer a part of the Doge Project and that after being laid off in 2015, he sold all of his crypto holdings.
- Dogecoin was created in approximately 2 hours.
When a user asked Billy Markus how to make the coin more efficient, he tweeted this. He stated that he created Dogecoin in 2 hours and did not take anything into account.
- All-Time High Price and Market Capitalization
Dogecoin has never been worth more than $0.74. On May 8, 2021, the coin reached that point. On the same day, it reached its all-time high market capitalization of $93 billion.
P.S. At the time of writing, the market cap of Dogecoin is 43B, which is nearly equal to the market cap of Ebay.
By the way, the price of a doge in exchange varies from time to time. For instance, doge to inr currently is around 8.89.
- Shiba is the dog on the Dogecoins logo.
The Inu Shiba is a type of hunting dog. It’s worth noting that following the release of Dogecoin, various coins featuring dogs were launched. Corgi Token, based on the popular Corgi breed of dog, is one of these dog-based meme coins. This coin is a “community-based decentralized cryptocurrency” on the Ethereum blockchain.
- Dogecoin’s Community
Dogecoin has one of the largest communities of any cryptocurrency. Members of this community firmly believe in Dogecoin’s bright future, and it’s no surprise that the shibas’ slogan is “To the Moon!” They give a lot of money to make their favorite cryptocurrency more popular.
In 2014, for example, the community raised $55,000 for NASCAR driver Josh Wise, in exchange for which he covered his entire car in Dogecoin and Reddit alien images.
Brief Overview of Tron
TRON is a multi-purpose smart contract platform that allows for the development and deployment of decentralized applications (dApps). It employs a delegated Proof-of-Stake (DPoS) consensus mechanism, which improves performance while sacrificing true decentralization and censorship resistance. Tron is the creation of notorious crypto celebrity Justin Sun, who acquired the peer-to-peer file-sharing network BitTorrent through Tron in 2018 and launched the BitTorrent Token (BTT) a few months later.
Tron coins can be bought in India from any of the major exchanges. Tron to inr currently should be around 4.63.
History of Tron
TRON is a decentralized open-source blockchain platform founded in Singapore by the Chinese company TRON Foundation. TRONIX is the platform’s primary cryptocurrency (TRX). The platform was first announced in the summer of 2017 by Chinese businessman Justin Sun.
In 2017–2018, the company held one of the largest ICOs, raising $70 million. Approximately 40% of the total issue was sold to investors, with the remainder (35%) allocated to the TRON reserve fund for pre-sale to other investors. The project team is made up of highly experienced developers from China, the United States, and Japan. TRX initially represented the token in the ERC 20 standard, but following the ICO in 2018, the cryptocurrency switched to its blockchain.
5 Facts about Tron
- The TRON project is led by Justin Sun, a 26-year-old University of Pennsylvania alumnus. He has already been dubbed “the second Jack Ma” by the media. Forbes Asia magazine named him one of the top 30 most successful businessmen under the age of 30.
- During its ICO, the project’s team raised a very impressive amount of money – $70 million. TRON was backed by influential Chinese business leaders such as Nebulas founder Hitters Xu, Clash of Kings game founder Tang Binsan, well-known Chinese investor Xue Manzi, China Equity Group founder Wang Chaoyong, and OFO CEO Dai Wei.
- Despite the fact that the first coin was placed in Beijing, Justin Sun has chosen Singapore for the legal entity registration. Clearly, he was influenced by the Singapore government’s commitment to cryptocurrencies and the blockchain industry.
- TRON’s price dropped by 30% as a result of a Reddit post. According to the author of the post, 5.7 billion TRX were exchanged for ETH stored in Justin Sun’s e-wallet.
- TRON has received a lot of criticism in the global crypto environment, despite the fact that it has received a lot of support from Chinese investors and businesses. Some skeptics, in particular, believe that the project will fail to deliver a viable product.