dogecoin Billy Markus, one of the co-founders, with the ‘meme’ he shared on Twitter. bitcoin and DOGE are essentially similar cryptocurrencies using the same technology.
under the hood, it’s pretty much the same tech pic.twitter.com/D3p8EWfvjD
— Shibetoshi Nakamoto (@BillyM2k) January 28, 2022
Both cryptocurrencies use the “Proof of Work” algorithm. Dogecoin, which emerged as a Bitcoin parody after leaving a Litecoin in 2013, uses Shiba Inu dogs as a mascot.
“Both Bitcoin and Dogecoin Use Proof of Work Algorithm”
However, two cryptocurrency There is a very important difference between While the total maximum supply of Bitcoin is 21 million, there is no limit to the supply of Dogecoin.
As a matter of fact, there was a maximum supply limit of 100 billion coins for DOGE in the past, but it was discontinued as this limit was exceeded in mid-2015.
Instead, 5 billion coins have been added to the DOGE circulation every year since that date. At the time of this writing, there are more than 132 billion DOGEs in cryptocurrency circulation.
Currently, Wall Street investors, including famous names such as Mike Novogratz, Anthony Scaramucci and Robert Kiyosaki, consider Bitcoin to be a kind of gold alternative. In addition, the names in question also claim that BTC is more reliable than gold.
However, many still think that Dogecoin is nothing more than a joke. Despite this, let us remind you that Elon Musk, one of the richest names in the world, is among DOGE supporters.
Musk believes DOGE is a better alternative to Bitcoin for making payments.
*Not investment advice.