Confronta Dogecoin (DOGE) vs Tron (TRX) Coin

This article compares two popular cryptocurrencies, Dogecoin and Tron. These crypto assets have very little in common. However, Dogecoin and Tron are among the best-known cryptos in the game and can be found among the top20 cryptocurrencies ranked by market cap. From this article, you will learn the main characteristics of these coins, why they occupy such a solid position on the market, and why people invest in these assets. Knowing this information, you will be able to tell which of these coins, Dogecoin or Tron, is the more suitable investment for you.

1. What Is Dogecoin?
2. What Is Tron?
3. Dogecoin vs. Tron (table)
4. Dogecoin vs. Tron (details)

What Is Dogecoin?

Dogecoin is a unique cryptocurrency. It is the only altcoin that made its way to the top without millions of dollars spent on development and PR and the only Bitcoin clone with a large market cap with no dedicated dev team. Initially, Dogecoin was just a joke and parody crypto. It was created back in 2013 as a Litecoin fork. Later, the creators of the coin ceased their supervision of the project. Ever since, Dogecoin has been in the hands of the crypto community.

The power of the community has always been noted when somebody spoke about Dogecoin. Through flash mobs, successful grass-roots charity events, and the support of influencers like Elon Musk and Vitalik Buterin, Dogecoin has reached a significant following and one of the biggest market caps in the industry. The coin is supported on most crypto exchanges and wallets. Being PoW crypto, Dogecoin can be mined, which attracts even more people. As of August 2022, Dogecoin's price is around $0.07 while the market cap exceeds $9 billion, making the coin the 10th biggest crypto by this parameter. 

The future of the coin is quite hazy as there is no strong dev team that would have worked on Dogecoin's improvement. Technology-wise the currency was dismissed by experts many times, but the community was responding with true dedication to DOGE and continued to push this coin forward. These days, the market is full of other meme coins that use the Doge-meme attraction to gain a similar fanbase for a more elaborate cryptocurrency. Will these meme coins overthrow DOGE one day? The time will show.

What Is Tron?

Tron is a native token of the TRON blockchain and the multi-purpose network of the same name. The project was launched by young and ambitious Chinese entrepreneur Justin Sun in 2017. Sun and his team managed to build a solid and dedicated community around the platform. It helped Tron to gain notoriety even in the conditions when some experts criticized the platform, and the dev team faced white paper and code plagiarism allegations.

Tron was initiated as a platform that will benefit entertainment content creators and consumers. Through Tron, creators can share and control their works without acting through intermediaries. Fans can have closer access to loved artists and other content creators and support and reward them straightly instead of feeding go-betweens entities. Now, Tron, as a standing-alone blockchain, hosts several cryptocurrencies. It became a significant use case for this network.

As of August 2022, Tron is the 17th largest cryptocurrency by market cap. Tron's capitalization exceeds $6 billion. The current price is $0.065. As Tron is PoS-based, you can't mine it, but it is possible to earn it via staking.

Dogecoin vs. Tron (table)

Dogecoin vs. Tron (details)

The price and the market cap 

Dogecoin has about the same price as Tron but its market cap is more significant . Considering that Dogecoin is not developing technologically, it can reach its ceiling sooner than Tron. On the other hand, Tron hadn't updated its ATH since 2018, while Dogecoin has been actively growing in the later period. 

Popular markets

Tron and Dogecoin are well-presented on numerous exchanges. As these coins are sought after, many exchanges benefit from having them on the roster. However, you won't find Tron on the most popular exchange in the USA, Coinbase. More than that, Americans won't be able to trade Tron on such an established exchange as eToro. It means that the US residents have fewer problems finding reputable exchanges to trade DOGE while Tron trading is not that available.

Platform

Tron is a self-sufficient platform, while Dogecoin is just a Litecoin fork. Even considering the alleged plagiarized code, Tron is more advanced by this measure.

Consensus mechanism

Dogecoin leans on Proof-of-Work. This consensus mechanism is usually criticized for its negative impact on the environment. The good side is that Dogecoin can be mined. Considering the number of exchanges supporting Dogecoin, we can say that its network is far from centralized and can be considered safe and sustainable. In general, Proof-of-Work seems to be dated. New projects never use PoW as a consensus protocol. Tron is based on an eco-friendly Proof-of-Stake algorithm. Some criticize PoS for a higher level of centralization compared to PoW. Nevertheless, both DOGE and Tron haven't been hacked.

Products

Predictably, Tron is a much more elaborate project than Dogecoin, and it has more to offer. Dogecoin is just a means of exchange. Tron is an ecosystem hosting multiple cryptocurrencies, dApps, a block explorer, etc. 

Use cases

People use Dogecoin for tipping on social media, charity events, trading, and payments. At some point, Tesla intended to add DOGE as the supported currency. Tron can be used for the same purposes and many more on top of that. As Tron is not only a currency but also a blockchain-based ecosystem, it definitely has much more use cases than Dogecoin.