Will It Surpass Dogecoin And SHIB?


During its presale, Toon Finance made $2 million in just a week. Predicted to be the most profitable ICO of the year, Toon Finance could be well on the way to surpassing Dogecoin and Shiba Inu.

What is Dogecoin?

Dogecoin (DOGE) is a cryptocurrency created in 2013 by Billy Markus and Jackson Palmer. Originally created as a joke to mock cryptocurrencies like bitcoin, Dogecoin now stands as a legitimate investment prospect. Following its creation in 2013, Dogecoin quickly developed its own community. The cryptocurrency currently has a market cap of over $550 million. The coin features the face of the Shiba Inu dog from the “doge” meme and is its namesake. Tesla CEO Elon Musk can be partially credited with the currency’s growth as he called Dogecoin his favourite cryptocurrency. Check the value of Dogecoin on Binance.

What is Dogecoin used for?

Dogecoin lets people send money online and works as an internet currency. Many people have adopted Dogecoin as their official cryptocurrency. The idea of Dogecoin is to bring revolution in the world of finance, and it wants to help people use their cryptocurrency to make daily activities effortless. In the real world, the coin is mainly used for tipping and donation.

DOGE has been used by its community to raise huge funds at events:

·   Raising $50,000 to fund the Jamaican Bobsled Team’s journey to Winter Olympics in 2014.

·   Raising $30,000 in 2014 to build clean water wells in Kenya.

·   Raising $55,000 to sponsor Josh Wise, a NASCAR driver.

How does it work?

It is a peer-to-peer cryptocurrency that uses Blockchain technology. The Dogecoin blockchain uses a proof of work consensus mechanism where miners use computers to solve mathematical equations in order to process transactions and record them on the blockchain. Initially, the supply of DOGE was capped at 100 billion coins, with an additional 5.256 billion coins to be released every year, though it is now unlimited. There is no cap on the number of Dogecoins that can be created by mining therefore, the cryptocurrency is victim to high inflation. Millions of new Dogecoins are created every day as the blockchain rewards miners.

What are the advantages of Dogecoin?

·       Transactions can be made in just 60 seconds

·       Low transaction fees allow users to conduct online microtransactions

·       The low-coin value makes it apt for tipping and donations

·       Dogecoin has a community of more than 140k members on Reddit

·       It is less of a currency and more of a speculative investment due to unlimited supply

What is Shiba Inu coin?

Shiba Inu is a new cryptocurrency inspired by Dogecoin and launched in August 2020. It was created by anonymous developed Ryoshi, one of the cryptocurrency enthusiasts in the world. He created this cryptocurrency to bridge the gap between cryptocurrency and real-world assets. The coin is now entirely controlled by its community. The SHIB coin is a cryptocurrency that uses the Japanese Shiba Inu dog breed for its logo and gained attention in spring 2021, fuelled by Elon Musk’s SNL appearance. It is intended to be an alternative to Dogecoin.

What is it used for?

The Shiba Inu ecosystem consists of three tokens – SHIB, LEASH, and BONE. Each token helps the ecosystem function in different ways:

SHIB – the foundation of Shiba Inu currency. It can be traded and used as a medium for exchange

LEASH – The most limited of the Shiba coins, LEASH provides staking rewards for those validating transactions in the cryptocurrency

BONE – with around 250 million units, BONE is used to allow those using Shiba Inu to vote on proposals

How does it work?

With so many competitors in the crypto market, it is essential to know which will retain the most power. Unlike Dogecoin, which has its own blockchain, the Shiba Inu Coin runs on the Ethereum blockchain and uses a proof-of-work mechanism. The platform works like a marketplace where users can list their assets for trading. When someone buys an asset from the marketplace, the listing fee is charged from the asset owner. The marketplace is the central authority that controls asset listings. This is known as ShibaSwap which enables users to “dig, “bury”, or stake coins, as well as swap tokens to get rewards called “woof returns”.

What are the advantages of Shiba Inu?

·       All Shiba Ina tokens can be staked, meaning your crypto can be locked away in a wallet or exchanged to validate transactions and earn rewards

·       SHIB is the 14th most popular coin as of February 2022 and has a relatively high volume and liquidity

·       It is an easy currency to exchange when trading crypto

·       The SHIB has a very low price and has the potential for substantial spikes and profits

·       The low-coin value makes it apt for tipping and donations

The Future is Toon

Toon Finance is predicted to be the most profitable ICO of the year. Having made $2 million in its presale week, it is being called the ‘new Dogecoin’. It allows users to trade NFTs, Exchange Cryptocurrency, and Bridge Blockchains in one place. Toon Finance Protocol is a decentralized exchange application platform designed by a team of market leaders and blockchain developers. It aims to fix the externality surrounding the P2E gaming demand by ensuring P2E metaverse is backed by SHA-256 encryption. With a team of innovators partnered with people who love tough challenges, join the movement now.

Join the Toon Final Space Battle Grounds and challenge other players with SHA256-encrypted fair results. Climb the leaderboards and win exclusive NFT Mintpass Airdrops, which you can apply to your profile. Presale is live now, and users can buy NFT Mint Passes. The official launch is on 1 January 2023.

Toon Finance Tokens are the native utility token that can be used to play to earn gaming in the space grounds, to purchase NFTs that serve as functional gameplay items, and for governance votes. Head over to the Toon Finance Presale to join stage 2 of the presale.

Toon Finance is also proud to announce the ToonSwap DEX which will be more than just an ordinary ERC20 swap platform. It will offer one on one games, Space exchange, Space Payload pools, Space Farms, Space Bridge, Space Voting Governance, Space Lotto and so much more.

With its own community, Toon Finance is on a mission to the Toon Moon. All users are in the Toon Space where members are able to speak to one another and keep up to date with the latest news. Join the official Telegram chat and talk to other members here.

Disclaimer: This is a press release post. Coinpedia does not endorse or is responsible for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to the company.



Source link

(Visited 1 times, 1 visits today)

About The Author

You Might Be Interested In

LEAVE YOUR COMMENT

Your email address will not be published. Required fields are marked *

This is default text for notification bar