Cryptocurrencies have become extremely popular worldwide, despite their volatility. While Bitcoin is a pioneer in the world of cryptocurrencies, many other digital currencies have gained favor among investors and analysts. So if you are also looking to evaluate tokens other than the top few, here is a comparison of two of the altcoins which are currently trending, Tron and Dogecoin. Read on to know their comparison and which is the best investment.
What Are Tron and its features?
Tron was founded by Justin Sun in 2017 and is thus a relatively new coin compared to Bitcoin. But it incorporates decentralized apps and smart contracts, making it a good platform for other cryptocurrencies apart from operating Tron, which is the main blockchain operation. It is also alternatively called TRX or Tronix and is a blockchain for entertainment platform. The smallest unit of TRX is called SUN and was brought into the market through a private sale. The TRX coins started off using the Ethereum network but moved on to its proprietary network in 2018.
Tron’s Special Features
Tron’s unique feature is that it uses a proof-of-stake system, unlike Bitcoin blockchain, which uses proof-of-work to handle transactions. The Proof-of-stake system uses less power, which means the network can handle more transactions per second than Bitcoin, which relies on a huge network.
Tron can handle up to 10,000 transactions/sec, which is a massive throughput compared to other networks. Additionally, it does not charge any transaction fee, which is a huge plus for the users. No transaction fees and higher throughput make it appealing to the Dapps and smart contracts. Check out the price of 1 Trx to INR before investing.
Tron Investment Analysis
Tron is a crypto project that can disrupt the current entertainment content distribution networks. It removes intermediaries who gain more than content creators by simply providing a platform to showcase their work. It gives users more control over the content, sharing, pricing, and whom to share it with. It also offers creators freedom from censorship as it is decentralized and cross-blockchain compatible.
What is Dogecoin?
This cryptocurrency was started in 2013 as a joke but has now become one of the most popular cryptocurrencies in the world. The proof of it is the growing value of 1 Dogecoin to INR. It has been around for some time and is making good profits for the early adopters. The price of this coin increased as it was adopted by Elon Musk, who frequently tweets about it. Due to this, the price rose to its highest since its inception, more than 15,700%. The network used in Dogecoin is based on Litecoin and has improved it.
Dogecoin’s Special Features
Some features set this altcoin apart from others. Foremost, no cap on the Dogecoins that can be mined, which is quite different from others with a limit. The infinite number makes it highly inflationary. The other thing that sets it apart is the mining. It is mined using Scrypt technology which means it can be mined faster than other cryptocurrencies.
Dogecoin’s Investment Analysis
Cryptocurrencies are considered as a solution to the problems that traditional banks have. The Dogecoin, which was found accidentally, is built on the same platform as the other digital currencies, but it improves upon those making it more beneficial. It is the most suited for mining purposes.
Coming to which one to buy, both have their benefits and disadvantages. In speculative trading, one thing to know is to diversify and not put all the eggs in the same basket! Both coins have their pros, you can invest in both, as per your risk appetite.