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Introduction to Dogecoin
DOGEcoin is a cryptocurrency founded in 2013 for the joke of enthusiastic programmers Jackson Palmer and Billy Marcus. It is actually named after an Internet meme with a Shiba Inu dog, seemed to have leaped from its leash. The basis for the development of Dogecoin cryptocurrency served as the more famous and coming on the heels of Bitcoin Litecoin. The development was presented in the 2013th year. A characteristic feature of Dogecoin was a quick mining period.
Short history of Dogecoin
Cryptocurrency dogikoin was created as a comic project, so it was not originally planned to be withdrawn to the global market for subsequent distribution among cryptoinvestors and miners. The developers of this coin, based on the Lightcoin software code, wanted to demonstrate the absurdity of the crypto market with the help of dogecoin, that now each dog began to create its own digital currency. Popular among Internet users, the Japanese dog breed Sibu Inu was chosen as the symbol of dogecoin. Due to its deliberate frivolity and playfulness, the cryptocurrency Doge continues to attract all new users who want to invest in this project with the hope of making money on its further growth.
Earning Dogecoin
Another reason for the popularity of Contracts can be attributed to the online wallet – dogechain.info – the link can register your own wallet, and the service is official and of high quality. Also on Dogcheyne, you can see information about the mined blocks and pools (the amount of production on the chart, respectively). It is very easy to buy on the exchanges – this is another plus, why you should buy dogs (as long as they are cheap).
Advantages of Dogecoin
Cryptoinvestors often want to find out what dogecoin is and what features this cryptomonet has. Due to the fact that Dogecoin is actually a fork of Bitcoin, the currency has received several similar features with its progenitor. So, Doge is also an end product that has no basis. This factor is decisive in the structure of the formation of the cost of 1 dogecoin.
From a technical point of view, dogs are not distinguished by innovative chips, which can be observed in a change in the rate of 1 doge, which varies according to the general rules of the crypto market. Dogecoin code is based on the Scrypt encryption principle. This is one real difference between forks and bitcoins using SHA-256. It is likely that this moment is the only factor that changes the rate of Podecoin in such a way that the currency maintains high positions in the global rating. In addition to the opportunity to buy dogecoin, owners of medium and powerful PCs can start mining this digital coin. The mining process is based on the traditional principle – Proof-Of-Work. In fact, there is no point in using extra maping equipment for mining dogs, since it will not provide the desired crypto-production speed.
Dogecoin capitalization
In general, not bad, the coin is currently 55th in terms of the amount of money invested in it and has every chance of rising higher, and we will explain further why. The currency, almost forgotten since its apogee in 2014, has increased in price by more than 400% over the last month, setting a new record on January 4 – above $ 0.01.
Dogecoin future perspectives
Dogecoin continues to exist due to the formed frivolous image and the desire of young people to everything unusual and new. What will happen next can not say any market analyst. Apparently, over the next couple of years, the cost of 1 doge will continue to grow to the delight of investors. This development will be assisted by a global crypto boom, as well as the instability of Bitcoin and other crypto-money. At the same time, the future prospects of dogs are not so bright, because it will be more difficult to maintain “freshness” and “novelty”. Therefore, it is not necessary to talk about the expediency of long-term investment in the Doge and it is more reasonable to give preference to other currencies.
Litecoin is the No. 2 digital currency in terms of turnover and No. 5 in terms of the market value of its assets (capitalization). Like Bitcoin, it integrates workstations into a network, between which electronic money is exchanged. It also has such features as anonymity and the absence of a single control authority (decentralization), as in the most popular cryptocurrency. Essentially, it is one of the most famous forts of Bitcoin (Bitcoin). The actual developer and founder of this cryptocurrency is Charlie Lee. He took as a basis the idea of a decentralized Bitcoin network, slightly changed the mining process, the protocol, as well as the source code of the network itself. Based on these changes, the developer has launched its own network.
Litecoin vs. Bitcoin
Brief history of Litecoin
This cryptocurrency was developed in the likeness of Bitcoin, and the creator’s identity, unlike the creator of the most popular cryptocurrency, is known to all – Charles Li, an employee of Coinbase, who previously worked at Google. He launched Litecoin on 10/13/2011, but success was achieved only in 2013 when the capitalization of this virtual currency increased sharply.
The sharp rise was followed by a gradual decline in interest in Litecoin, since the sizes of the blocks added to the blockchain became too large, and the structural units themselves became too complex. This led to a fall in the rate and loss of interest from the miners.
Who made Litecoin?
Differences of Litecoin and Bitcoin
One of the well-known drawbacks of Bitcoin is the low speed of generating a chain of blocks, which is why network users have many hours of transaction freezing. In Litecoin, this parameter is at least 4 times higher, which allows processing a greater number of transactions during the same time period. In addition, due to the high generation rate of the unit, additional protection against double waste is provided. The number of coins that can be mined also compares favorably.
Litecoin Capitalization
Both the exchange rate and capitalization of the currency have a pronounced positive trend. For example, the first indicator in April of the current year was only about $ 9, and the second – 443 million dollars. By capitalization, this currency at the end of 2017 occupied the 5th place in the world. Her course was about $ 54. During the year, it rose to $ 70, the maximum rate was $ 90. Exchanges that support Litecoin more than Bitcoin.
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Litecoins Advantages
Since litecoin is essentially a slightly modified bitcoin, it is also mined. For mining Bitcoin, the SHA-256 algorithm is used, which uses a processor. Litecoin uses the script algorithm, which requires more memory. Like in the original Bitcoin, the issue of emission is limited and amounts to 84 million coins. In bitcoin 4 times less: 21 million coins. At the moment, only a quarter of this amount is already mined, so it will mine even more. At first, the miners for each new block received 50 LTC, but approximately every 4 years or 840 thousand blocks the amount of remuneration is halved. This is justified by the fact that the rate is growing, and the remuneration remains essentially the same. Now the reward for one new unit is 25 LTC, approximately in 2019, it will decrease by another 2 times and amount to 12.5 LTC.
The creator of the most successful Bitcoin analog project, a young genius from Canada with Russian roots, Vitalik Buterin is a legend of the cryptocurrency world. In 2008, someone Satoshi Nakamoto invented a revolutionary, completely different from anything before that moment, a monetary asset – bitcoin. In 2014, inspired by this development, the 19-year-old student created an absolutely new project that seeks to radically transform the entire Internet and change the entire existing economic system beyond recognition. This student’s name is Vitalik Buterin, and his project is called Ethereum.
Short biography of Vitalik Buterin
Vitalik was born on January 31, 1994 in the city of Kolomin in Russia. His parents – father Dmitry and mother Natalia – at that time were students of the technical university and studied at the faculty of computer science. At the age of 4, dad presented the boy with the first computer, which became his favorite toy. Interestingly, at such a young age the child was not interested in video games, the most exciting thing for him was creating macros in Excel. The father was not happy about this and asked the boy to finish his studies and get a diploma. However, Buterin refused and continued to act in his own way.
Running Bitcoin Magazine
Soon, he attracted the attention of the Romanian crypto enthusiast Mihai Alisi. Familiarity Buterin and Alice led to the fact that in 2012, they became the founders of the monthly magazine dedicated to bitcoin and cryptotechnology – Bitcoin Magazine. In parallel with his work in the publication, Buterin worked as a programmer in the Dark Wallet project, which developed a secure cryptocurrency wallet, and in the startup Egora, a decentralized marketplace on Blockchain.
Birth of ideak
A couple of years later, he handed over the magazine to BTC Media, while he himself began to study the alternative use of bitcoin and blockchain. In this, he was helped by Israeli developers from the Mastercoin and CovertCoins projects, who were charged with the idea of releasing alternative bitcoin-based tokens. Then Buterin came to the conclusion that with the help of the Turing language (which allows solving problems according to an algorithm using RAM), a mass generalization of the functions of the protocols is possible. This is how the Ethereum project, created together with Mihai Alisi, Joe Lubin, Gavin Wood, Charlie Hoskinson, and Anthony Di Iorio, appeared.
Writing the Ethereum white paper
In 2013, “white paper Ethereum” was born. The project team, in addition to Buterin and Alice, included entrepreneur and founder of Jaxx startup Anthony Di Loriot, as well as mathematician Charles Hoskinson, one of the main creators of the platform technology. Soon, Gavin Wood joined the project (He wrote for Ethereum Yellow paper – a preliminary technological description of the project, explaining the details of the processing of the distributed book data and the performance of smart contracts) and Joseph Lubin (Founder of ConsenSys, a developer of decentralized applications).
In parallel, Buterin received a Tile grant for young entrepreneurs seeking to change the world. 100 thousand dollars was enough for the project in order to cover the expenses at the beginning of the Ethereum project development.
Ethereum ICO
In 2014, the registration of the Ethereum headquarters in Switzerland was carried out. According to Buterin, the choice of the country was due to its world-famous banking system reliability, as well as the presence of favorable conditions for the conduct of cryptocurrency activities.
In the summer of the same year, the crowdfunding project was completed – he brought 31 thousand bitcoins to his creators. In return for spent BTC, the project investors received the first in the history of ETH. Then 60 thousand platform tokens were released. The full launch of Ethereum occurred in July 2015. Over the year, the project gained incredible popularity, but the platform was not afraid to accept quite risky ideas for implementation.
What Is Coinbase?
Among the many renowned cryptocurrency exchanges across the globe, Coinbase is one of them. It was the highest funded bitcoin startup, launched in San Francisco In the year two thousand and twelve. A year after the launch, it became the greatest crypocurency exchange throughout the world. As per now, in thirty-two various countries across the globe, Coinbase attends to more than ten million traders. This is the most secure online platform where you can buy, sell, transfer and even store your digital currency.
How to trade on Coinbase
First, you have to create a Coinbase account. It is not as hard as you may think; as you only have to visit their website, fill in your personal information such as your name, email and the password you will be using for the same. After that, you have to check your email, to find out the confirmation email, which then you shall confirm.
The next step will be to tell Coinbase the type of account you want to create. Most likely, you will select between individual and business account. Then set up the payment method f that I will be favorable for you, for instance, you can enable the two-factor authentication.
You will enable the 2-factor authentication by ensuring that you supply your phone contact, which will be followed by setting up a payment method. Your payment method is up, and now it is time to get started with purchasing the cryptocurrency tokens. It is recommended to start by buying some Coinbase bundle.
What is a Coinbase Bundle?
Coinbase exchange is now offering five available cryptocurrencies namely litecoin, ethereum classic, bitcoin cash, and bitcoin. This bundle of coins will give you an opportunity to split your investments into percentages as follows: 2.33% of litecoin, 15.58 of ethereum, 0.78% of etherum classic, 75.2% of bitcoin and 6.11% bitcoin cash.
Coinbase Fees and Transactions
The Coinbase fees will range from 1.49 to 3.99% based on the method of payment you will be using. It is worth noting that credit cards are quite faster, but they can incur higher charges as compared to bank transfers.
Depending on your location, you will have different transaction limits applying to your account, and you can check them on your screen. Verified residents from Europe, can contract up to $30,000 weekly, while the U.S ones transact up to $50,000 weekly.
Coinbase Custody
Coinbase has a pioneering custody program, which is enjoyed by organizations which trade with them. It only takes holding at least $ 10,000,000, and then set up which needs $ 100,000 and you can enjoy it too.
Coinbase Shift Card and UK Bank Purchases
The UK bank and shift card are two essential parts of Coinbase. They are necessary as you can use them, especially the visa debit, in doing some transactions in various stores that allow the use of visas. If you are U.S resident, you can link your bank account to Cubase, and use it to purchase cryptocurrency tokens promptly.
Coinbase Pro
The pro-section used to be GDAX, and it is meant for the expert traders. It automatically comes together with your Coinbase account and will help you at an advanced level.
Paradex Acquisition
Coinbase bought a cryptocurrency exchange known as Paradox and it is focused on the ERC20 tokens, which are the utility tokens in various ICOs. Once they are fully merged with Paradex, Coinbase will integrate the option of purchasing ERC20 souvenirs recently acquired another cryptocurrency exchange called Paradex, which focuses on ERC20 tokens. You will perhaps recognise the ERC20 tokens as the utility tokens found in many ICOs. Coinbase plans to integrate the option of buying ERC20 tokens once they are fully merged with Paradex.
If you have investing needs, Coinbase is one of the best platforms to invest. If you are doing a lot of trading, this is also the way to go. Open your account today, and see the significant impact of Coinbase.
