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What is DogeCoin?

DogeCoin is the name that receives a new cryptocurrency whose logo identifies with the meme of a Japanese dog, belonging to the race Shiba Inu, which has triumphed in numerous forums lengthways and Internet width, up to managing to turn into an authentic virtual viral currency. This great success joined the gigantic growth that has experienced Bitcoin, the most important cryptocurrency that we find nowadays on the market, they have led to the creation of the DogeCoin. We are, since we anticipate, before an electronic, virtual currency and of opened code that is based on the system P2P, this is, lacks central issuing authority and turns on the free exchange and contribution of all his users. Since we see DogeCoin it comes to increase the list of imitators of Bitcoin and his value at the moment is modest enough, especially if we enter comparisons, but also it is easier to mine. To date of writing this article a DogeCoin it had a value of 0,00025 dollars, whereas a Bitcoin was overcoming 800 dollars, information that I you contribute in order that you illustrate a bit the distance between one and other one. But the value is not the only important difference between DogeCoin and Bitcoin, also they distinguish the quantity of available currency from one and other one. This way, of Bitcoin only there can be in traffic 21 millions of virtual coins, whereas DogeCoin has enabled 100.000 million, one exagerate number that does not presage anything good. Slightly more complicated it proves to find the original touch that, undoubtedly, there has could give him the creator of DogeCoin. Will it be sufficient in order that this currency turns into the viral one in yes same? It will plummet so soon as the mode happens or he will find a hollow in the heart of the users? Sure that the Shiba Inu already has the response, but we will have to wait for the others that the time happens.

Mining industry DogeCoin to assure his network

The cryptocurrency are a product of a social and global activity, which is consubstantial to the Internet times. They are a product of an activity coordinated in network that is defined as a mining industry, because the coins that are extracted only are possible under the participation of a social network that meets and constructs chains of blocks of algorithms, which result will be able be valued and employee for the exchange on the market. Understood up to today it is that behind the mining industry there is an unavoidable investment in energy (especially electricity). The advantages that the cryptocurrency offer, for his innovative character, the expectations that they raise for the heap of information that they encase, the certainty of his safety and the high expectations of transfer without cost in minutes, will do of the cryptocurrency little by little a viable and competitive alternative before the traditional systems of payment. We are interested in specifying the previous thing because this week the developers of Dogecoin announced finally his final offer to offset the gradual decline of the mining industry in Dogecoin, which was starting already worrying to the whole community for the risk of all so been afraid: the ambush of harmful actors of mined (armed with ASIC's in multipools), especially because - of propose - they might take 51 % of the mining industry as an assault and therefore the control of the currency. The idea of fusing the mining industry Dogecoin faced in the last months to the community reddit, since in last April the own Charlie Lee, founder of Litecoin, had proposed it to Jackson Palmer in a meeting in California.

Inflation of DogeCoin being controlled?

Dogecoin will allow an annual inflation of 5 billion coins every year. The accompaniment is kept in the design and promotion of the currency, in order that the developers could offset the eventual deflationary pressure. During the last two months, the developers and users of Dogecoin, this altcoin-shiba subject matter (alternative Bitcoin)-, have been trying to discuss thoroughly the paper of the currency in an inflationary and deflationary environment. On Saturday, Jackson Palmer, the creator of Dogecoin, wrote in the site Github that the equipment developer has wanted to support the code since to be, to allow certain limited inflation. The majority of altcoins that have been designed up to the moment would be deflationary. This means that there is a strict limit on the number of coins that will be in existence. Bitcoin, for example, is designed not to have any more currency up to after 2040. Other variants (as Litecoin) have similar configurations. Nevertheless, one of the major disadvantages of the deflation is that it encourages essentially the hoarding, since the royal value perceived of the currency increases with the time. In consequence, the academic investigators showed last year that 64 % of all the bitcoins they have never become exhausted. The inflation is " really a good thing " The economists hold that, given this decision, Dogecoin only might have a better opportunity to be used and negotiated in the long term. (After everything, scarcely there exists a handful of companies that Dogecoin accepts as payment). " Whereas the emission is to a constant and predictable pace, it will turn out that the rate of inflation will coincide to more or less with the growth of the global economy.