Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Meme Coins => Dogecoin Forum => Topic started by: Mahindra on July 03, 2021, 05:24:04 PM
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In the eyes of Dogecoin optimists, their meme coin is the future world's currency. They believe they're getting in well before broad-based adoption occurs. But there's one glaring problem with their thesis: The "people's currency," as Dogecoin came to be known, has absolutely no competitive advantages.
Dogecoin "hodlers" (holders of the token) regularly point to its lower relative transaction fees to the Big Two in crypto, Bitcoin and Ethereum. But that overlooks the other side of the equation. A number of other popular cryptocurrencies charge a fraction of what Dogecoin does per transaction (or perhaps nothing at all). In no particular order, these include: Nano, Ripple, IOTA, Bitcoin Cash, Bitcoin SV, Ethereum Classic, DigiByte, Qtum, Monero, Dash, Cardano, Stellar, and Litecoin; the list goes on, but we'd be here for a long time if I continued.
If Dogecoin's transaction fees aren't an advantage in the crypto space, then it must have an impressive validation and settlement time, right? Nope. Nano, Ripple, and Stellar, just to name a few, validate and settle transactions on their respective blockchains in a matter of seconds. information more (https://www.fool.com/investing/2021/07/03/dogecoin-no-competitive-advantages-these-stocks-do/)