Difference between NANO and DOGE?

Nov 19, 2021 0
Difference between NANO and DOGE?

In the past few months, eyes have been turned towards cryptocurrency: various coins are growing tenfold, and bitcoin has completely stepped over the price of $ 40,000, updating its previous record. Against the background of others, Dogecoin stands out - a cryptocurrency that was not invented to solve some global problem, but for the sake of a joke.

Reality

Notwithstanding the original plan, the new cryptocurrency increased time and started to increase in price.  Over the period, the increase has quieted down, and the cryptocurrency has grown as light as the others: either the rapid extension or a long drop. And nevertheless, the capitalization of the comic project for a long time was about $ 400 million. Until the bill went into billions.

The first major jump in the value of cryptocurrency happened along with the entire market: at the beginning of 2018, one Dogecoin was worth $ 0.0183, dropping another zero. Since its inception, the cryptocurrency has risen in price by more than 7000%, has been traded on all popular exchanges, and has consistently entered the list of the most popular cryptocurrencies including DAI to FTM convert.

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And then everything seemed to get out of control. Members of several communities on Reddit began to talk about the fact that Dogecoin is the most underestimated cryptocurrency and its value needs to be raised. Desirable - up to $ 1. Crypto investors have undertaken to massively buy up crypto to increase its rate, and also ask not to dump it in case of volatility. The global goal of the communities on Reddit is to make Dogecoin the third largest cryptocurrency in the world by capitalization, after Bitcoin and Ether. So far, they have been doing pretty well: over the past week, Dogecoin has already climbed to the 10th line.

Nano

Nano (formerly RaiBlocks) is a digital currency featuring high bandwidth, scalability, and outstanding performance. It is based on an advanced blockchain architecture, thanks to which network maintenance does not require high costs, and the transactions themselves are carried out almost instantly and without commissions.

Nano uses a block-lattice structure in which each account is assigned its own blockchain. Therefore, every account has a separate scale and records of transactions. Only the owner of an account can change the chain associated with an account, while the global Nano registry stores information about all accounts. Whereas in traditional systems, such as Bitcoin, the entire registry is distributed in nature and is stored by all the nodes of the network, the Nano registry is partially distributed, and each user stores the data on his own accounts.

This allows for instant, asynchronous updates on the user side, which does not require the transmission of the transaction across the entire network. At the identical time, the method of selling Nano tokens from one member to another needs the making of two transactions, and not one, as in regular blockchains. The sender sends out a business, as a consequence of which tokens are debited from his story.

  • The Nano platform does not charge any fees, as it is based on a lightweight protocol, the cost of which corresponds to the cost of maintaining a network node.
  • At the identical time, the system performs the capacity to check transactions, which enables you to preserve it from spam activities, from which blockchains of any cryptocurrencies experience from time to time. Read more on https://alligat0r.com/custom/compare/

The absence of commissions is also due to the Proof-of-Stake consensus mechanism and the pre-mined Nano coins. While in standard blockchains users are forced to pay miners for their services, including covering their electricity costs, in the Nano system there is no need to mine new coins as such.

The opinions and assessments expressed in the text are the views of the author of the article and may not represent the position of Cryptogeek. Do not forget that investing in cryptocurrencies and trading on the exchange is associated with risk. Before making decisions, be sure to do your own research on the market and the products you are interested in.


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