Dogecoin(DOGE) vs Shiba Inu(SHIB)

avatar
(Edited)

This post is part of Dogecoin Guide. In this section we are going to compare two blockchains - Dogecoin and Shiba Inu.


leo.png


Introduction


This guide is meant to show you unbiased feature set comparison of blockchains in discussion. Below table shows you the comparison points between the two blockchains.

Dogecoin(DOGE) Shiba Inu(SHIB)
Dogecoin started as a meme coin in 2013. Shiba Inu was created by Ryoushi in 2020.
Dogecoin makes use of Proof of Work consensus mechanism and it has no cap on the coin supply. Shiba Inu makes use of Proof of Stake consensus mechanism as it's ERC-20 based Ethereum token.
Dogecoin has no marketcap on the coin supply while 129 billion DOGE in circulation. Shiba Inu has 3,928,203,356 market cap with 500 trillion coins in circulation.
Dogecoin does not have the NFT marketplace as of now. Shiba Inu being ERC-20 token has NFTs & DeFi support.
Dogecoin is developed with C++ as it's primary programming language. Shiba Inu makes use of the Solidity as it's primary language considering it's ERC-20 asset.
Dogecoin's underlying blockchain technology is Litecoin based. Shiba Inu is an ERC-20 token that is based off the Ethereum blockchain.
Dogecoin currently has no smart contracts. Developers and community is speculating on the development of the blockchain to support smart contracts. Shiba Inu being a token in ERC-20 it's possible to create smart contracts on Ethereum for this token.
Dogecoin is an inflationary cryptocurrency this is meant for the investors who don't want to spend much in ownership. Shiba Inu being token on Ethereum has limited market supply. This also means that it's price would soon be higher based on demand.
Dogecoin has low cost and faster transactions. It's often used by the community to tip each other Shiba Inu being ERC-20 token is subjected to the Ethereum network fees and so the speed gets affected as well.
Dogecoin has limited use case for making digital payments for now. Shiba Inu allows digital payments and has plans in the DeFi market can increase it's value in near future.

Dogecoin(DOGE) or Shiba Inu(SHIB)?


Both of these coins are limited in it's long term use case. Dogecoin largely relies on the external marketing in order to stay relevant. Currently apart from being low cost digital payment, there is no use case for dogecoin.

ShibaINU on the other hand is an ERC-20 token that has plans to enter into DeFi and exchange market of Ethereum and it's available tokens. Compared to DOGE it has means to be more open towards the growth.


Conclusion


Dogecoin is good for those who are just in need of the low cost coin to tip each other in online communities or to reward in small amount to the other users or buy something in online shops.

ShibaInu is a good option if you wish to invest into the Ethereum based token and considering it's in limited supply compared to DOGE you appreciate the market value in near future.

For those who wish to invest into cryptocurrency which would stand strong post-regulation, I'd say other cryptos offer much better value than both of these coins.

Posted Using LeoFinance Beta



0
0
0.000
1 comments