In recent days there has been much hype surrounding these two coins and looking at the market, one can see why. While the rest of the market is bleeding, the two remain unshaken. Dogecoin (DOGE) and Dash coin (DASH) have remained stable as the rest of the market drops and this is nothing short of impressive. However, even though the two have shared a common ground with their stable prices, they are quite different from each other. So, what’s so impressive about the two coins and how are they able to defy the market so well?
What started as a joke in 2013, in 2018 is one of the best coins to invest in. Dogecoin (DOGE) began as a meme by the nickname ‘doge’ with a picture of a Japanese dog (Shiba Inu). The coin became popular on the internet, and soon became a payment gateway of the 21st century. One reason that makes the coin unique and has ensured its stability during the recent drop is the fact that the coin is not dependent on the price of bitcoin. Most coins on the market are dependent on bitcoin and when bitcoin prices rise or fall, the prices of other coins follow that lead. But, this is not the case for DOGE and for this, it remains one of the few coins in the green zone.
Another major difference with the coin is that it aims to be fun. According to Ben Doernberg, a board member of the Dogecoin Foundation;
Where bitcoin is supposed to be intimidating and complex, obfuscated by ideology and legitimate finance, Dogecoin is all fun and games.
The project aims at evoking positive emotions. This has made it attract a large community of users who remain loyal to it.
Other features include its fast transfer time (about a minute). it also uses the Scrypt algorithm which promotes mining, unlike bitcoin which uses SHA-256. And It has no transaction limit. Currently, the coin is accepted in over 200 enterprises and the project continues to expand. The project has also garnered a great team of developers who continue to improve on what is the most joyful coin.
At the time of press, the coin is trading at $0.006188, up by 7% in the last 24hours.
Dash Coin (DASH)
Unlike Dogecoin, Dash Coin (DASH) is dependent on bitcoin’s market prices. But, this has not stopped it from soaring by 5% in the last 24 hours amidst bitcoin’s price fall. The price soar has been as a result of mass adoption of the coin by businesses. The coin has also garnered mass adoption because of its anonymity features which protect its user’s identity. Anonymity focused coins have been criticized for being used to fund illegal activities. This has, however, not hindered them from becoming mainstream.
Although the coin has not been massively adopted like bitcoin, or even most cryptocurrencies, it is one of the most valued coins, more than Dogecoin in fact. This is because this mode of payment has a large and loyal following. InstaSend, one of many special features of the project, ensures fast transactions and untraceable transactions. This unique feature has kept the coin ahead of its rival anonymity focused coins. Ever since its launch in 2014, when bitcoin was beginning to go mainstream, the coin has continued to improve its system. And the project has never looked more promising than now. The developer, Evan Duffield and the current CEO, Ryan Taylor, have continued to spearhead the project with an aim of making DASH Coin better than bitcoin.
At the time of press, the coin is trading at $202.15, up by 5% in the last 24hours.
It is hard to put a pin on which of the two coins is better than the other. The coins not only bring new ideas to the industry but they have also shown they are capable to stand on their own even when the market is coming under fire.