Dogecoin (DOGE) is, in 2013, was meant as a joke, but there seems to be a veritable cult around the cryptomunt. The Swiss Cryptonomist comes up with a sobering fact: there are more and more transactions on the Dogecoin in comparison with the ‘hip’ Bitcoin’s Lightning Network.
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Dogecoin network is used more and more over Lightning
Dogecoin is in 2019 at the latest of the many times in the news. In may it was Coinbase, the largest cryptobeurs in the world, known for DOGE to go and write it down. Binance, followed not too much later.
None other than Elon Musk tweeted about Doge, as a founder, Jackson Palmer, just back away from social media.
Dogecoin might be my fav cryptocurrency. It’s pretty cool.
— Elon Musk (@elonmusk) April 2, 2019
The Proof-of-work
Dogecoin uses a different algorithm to process transactions in its proof-of-work blockchain to confirm it. Thus, in contrast to bitcoin is not SHA256, and a miningalgoritme that are used in the mining of BTC.
The size, however with the 1MB per block is almost the same, but in contrast to bitcoin each and every minute, the block will be released. For each mined block, is given to a miner and now is 10.000 DOGE, compared to $25.
The aggregate fair market value at the time of writing, approximately $300 million.
Transactions
Last week, the network of the Doge with a daily volume of $20 million. This is not a shocking number, but it is still twice as high as the current maximum capacity of approx. The $10 million a day, and red by the Lightning Network, the sc, on top of the bitcoin base.
Also, the transaction amounts are, on average, up to $1,000, in the ‘Doge’ for a 0.04 BTC in the LINK, the euro is now approx. Up to $400. There is currently no way to use it IN the purchase of a car, whether or not you should hundred times in one transaction, do so.
Out of these three, Dogecoin transaction shows that the transaction costs centenwerk is ($0.002) per-transaction, ed), with more than $3 million, and the owner changed.
To be more popular than the Ripple (XRP) and Monero (XMR)
The chart below shows the extent of the popularity of the larger cryptomunten for sale.
Cryptwerk is a list of the (web) shops, established that a DOGE to accept it.
It turns out that hundreds of companies are cryptomunt as a method of payment to accept (including any travel site Travala, red) compared to two hundred retail outlets that Bitcoin is IN support of.
Lightning Network
And the Lightning Network (LN) remains a difficult topic of discussion. For example, if the second layer is the solution of the problems, such as transactiesnelheid, and the cost to fix.
The enthusiasm is somewhat tempered, as we look at the bare facts, and look.
And In February 2019 at the latest, of this year, there will still be 35,000-hour pay-per-view, we are now down to a speed of 28 000. Which has a direct impact on the capacity of the network.
In addition, the number of nodes to be slowing down. For example, there was at the beginning of this year, with a keen interest to be visible, however since may there have been a couple of hundred nodes have been added.
There is also a new trend: the opening of the new nodes with just one or two of the new payment channels. Some are open, but there was nothing. To be continued, but in the meantime, it is an ‘oldie’ like a Doge is still popular, and if we only look at the volume of
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