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Summary of DogeCash
Key Points
- DogeCash is a community-run digital currency founded in 2018.
- It has a maximum supply of 210 million coins.
- It uses a proof-of-stake (POS) consensus protocol.
- It has privacy features and a system of governance.
- It rewards users for holding coins (staking) and running masternodes.
- It uses little to no energy to maintain its blockchain.
Unique Features
- Combines qualities of Bitcoin and Dogecoin with environmentally sustainable consensus mechanism.
- Focused on being a currency with fast transactions
Introducing DogeCash: A Revolutionary Digital Asset
Introducing DogeCash (DOGEC): A Novel Cryptocurrency
DogeCash is a community-driven digital currency, established in 2018, built upon a straightforward yet compelling vision: to create a limited-supply, eco-friendly coin that seamlessly caters to diverse stakeholders, including consumers seeking a convenient payment method, everyday investors looking for a reliable store of value, and philanthropists seeking a meaningful vehicle for charitable giving.
Similar to Dogecoin, a pioneering cryptocurrency inspired by the beloved Shiba Inu internet meme, DogeCash places a strong emphasis on community engagement and charitable giving. However, DogeCash diverges from its predecessor in several key aspects, including its implementation of a proof-of-stake (POS) consensus protocol, a capped supply of 210 million coins, enhanced privacy features, and a robust system of governance.
DogeCash developers leveraged PIVX, a decentralized, MIT-licensed, open-source blockchain project, as the foundation for DOGEC. Similar to PIVX, DOGEC is a proof-of-stake (POS) and masternode-based cryptocurrency that incentivizes users through staking rewards for holding coins and operating masternodes, which are full nodes that remain perpetually online, thereby contributing to the network’s security.
In stark contrast to proof-of-work cryptocurrencies like Bitcoin, which rely on energy-intensive mining for consensus, DogeCash employs an environmentally friendly approach, utilizing minimal energy to maintain its blockchain and mint new coins.
Unveiling the Uniqueness of DogeCash
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DogeCash synergistically merges the most desirable attributes of Bitcoin and Dogecoin, including a limited supply and a strong community-driven charity focus, respectively, while incorporating an environmentally sustainable proof-of-stake (POS) consensus mechanism and the cutting-edge privacy features of PIVX.
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At its core, DogeCash is a currency designed to facilitate seamless transactions, and its overarching vision is to create an ecosystem centered around DOGEC, where the emphasis is on rapid money movement, enabling both merchants and content creators to virtually eliminate transaction fees and other associated costs.
DogeCash harmoniously blends the most desirable attributes of Bitcoin and Dogecoin, namely a limited supply and a strong community-driven charitable focus, respectively, while incorporating an environmentally sustainable proof-of-stake (POS) consensus mechanism and the cutting-edge privacy features of PIVX.
DogeCash prioritizes its role as a currency, fostering a vision for a comprehensive ecosystem centered around DOGEC, where rapid transactions are paramount, and both merchants and content creators can virtually eradicate transaction fees and associated costs.
The Circulating Supply of DogeCash Coins: An Overview
DogeCash facilitates the creation of a new block at a rate of one per minute, accompanied by a coin emission of five units. The distribution of these coins is as follows: 3.5 coins are allocated to masternode owners, constituting 70% of the total, while 1.5 coins are designated for stakers, representing 30%. Additionally, the network features periodic superblocks, which serve as a funding mechanism for proposals conceived and voted upon by the DogeCash community.
DogeCash boasts a capped supply of 210 million coins, deliberately set at ten times the supply of BTC, thereby striking a balance between utility and a robust store of value for investors. As of October 2021, the circulating supply of DogeCash stands at approximately 16 million coins.
At the current emission rate of approximately 7,200 DOGEC per day (~2.6 million DOGEC annually), DOGEC is forecast to remain economically viable for over a century, without necessitating any adjustments to its coin economics.