Dogecoin is a meme turned digital asset with unlimited supply, NEO Coin, on the other hand, is a complete ecosystem with options for smart contracts, tokenization, and DApps, giving it the name, Chinese Ethereum.
Are you new to the crypto realm, trying to make your first investment?
Are you confuse between the two choices, Dogecoin and NEO coin, well don’t worry, we have got you covered. In this article, we will compare and see Dogecoin Vs NEO Coin – Which One Should You Invest?
Let us look at each coin separately first, and then make a final comparison to see which one holds the potential of being a good investment option.
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Dogecoin: Meme Turned Digital Asset
You must have heard many times about the internet making people and things famous overnight through memes. In case of Dogecoin the circle was reversed, where a famous Dog meme turned into a digital asset.
Founded in 2013 as a parody of rising crypto fame, the Doge token was distributed for content contribution over the internet. There were bots on certain communities which paid you a certain amount in Dogecoin for your contribution. However, as the trends go, people started seeing it as an asset, making it reach a market cap of over $2 Billion
As the popularity increased and Dogecoin garnered a strong community, the founders left the project, giving the power in the hands of the community and making it truly decentralized.
Dogecoin is technically a Fork of Litecoin, but the intention of the community behind it was different from most of the other crypto communities. There are a few basic differences as well, the block time of Litecoin is around 2.5 minutes while the Dogecoin has set its block time at 1 minute.
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The Financial Aspect of Dogecoin
Every altcoin in the crypto market draws a direct comparison with the pioneer Bitcoin. Dogecoin, unlike Bitcoin’s deflationary model, is an inflationary cryptocurrency. It means the inflation rate of Dogecoin is quite high due to the unlimited supply of the crypto.
The altcoin touched the 600,000th block in February 2015, and since then they have been pumping 5.2 Billion coins every year into the market, with an inflation rate of over 4.5%.
The meme coin saw its market cap peak to 2 billion towards the end of 2017, thanks to the phenomenal rise of Bitcoin and other altcoins. However, the high was short lived as the prices dropped significantly following the bullish trends.
Currently, DOGE is trading at $0.0021 with a total market cap of $254,431,611.
The high inflation rate and unlimited supply could be the deciding factor for the altcoin, as the inflation rate might hamper any chances of good return. The prices of cryptocurrencies are governed by PR buzz and the community activities, however, the DOGE community has not done any significant work n the network in the past 2 years.
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NEO Coin: The Chinese Ethereum
NEO came into the crypto realm in 2015 and became the first cryptocurrency of Chinese descent. NEO was launched as AntShare but changed its name to the current one later in June 2017.
NEO network is more than just a digital currency, as the team behind the network focused on creating an ecosystem just like Ethereum. The NEO platform hosts DApps, help new entrants in token creation and also works with smart contracts.
The coin also made early significant progress because of it being in the good books of Chinese government. If you are aware of the Chinese government’s control and heavy industrialization approach, it’s not hard to guess what huge impact it might have played in the progress of NEO network.
NEO works on the principle two token policy, where one is called NEO and the other one is GAS. The GAS token is used for payments on the platform, like paying for transaction fee and other events, while NEO is the standard one, which can be used as a form of exchange.
NEO coin is indivisible, as the earlier name suggested, it acts like a share and cannot be divided into 0.5 NEO or 0.02 NEO. This problem is taken care by the other GAS token which is divisible.
The Financial Aspect of NEO coin
NEO has proven its worth time and again, and have also made it to the list of top 10 cryptocurrencies at one point.
NEO is currently trading at a price of $7.90 and has a total market cap of $513,484,547. The total supply of NEO coins is 100,000,000 NEO, out of which 65,000,000 NEO are in circulation.
NEO might have exited from the top 10 list, but it has every factor in its favor to breach the top-10 list sooner than later.
Many have predicted a great future for NEO, as it does everything Ethereum network does but slightly better on many occasions. The core team is focused on making it one of the better scalable cryptocurrencies.
Many experts have predicted its prices to breach the $100 marks by mid or end of 2020. And a long term forecast suggests it might breach the $1,000 mark within 5 years from now.
Dogecoin vs NEO, Which is Better?
Well if you ask any expert especially those who predicted the prices of Bitcoin to triple its 2017 high, they would tell you, how difficult it is.
If you look at technical aspects, NEO is far better than Dogecoin, as it has a great core development team continuously making efforts to make the network better by the day. On the other hand, the Dogecoin community has been idle for the most part of 2 years with no significant changes coming in.
If we compare the financial aspects of the two, NEO with its limited supply, a great community and reach prove better. Dogecoin unlimited supply and high inflation make it very hard to make any profits.
NEO has a definite roadmap, and plans to execute, while Dogecoin is merely focused on maintaining its cryptocurrency status.
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