Dogecoin 2015 Annual Development Summary

Before I know it, 2016 is coming soon. Dogecoin is already 2 years old. One year in the cryptocurrency world is like ten years in the human world. Dogecoin has already reached its youth. With the development of time, the network and community of Dogecoin have gradually matured. I wanted to write a long time ago, but I never did. Thanks to @Miner of Babbitt, I was able to complete the annual development summary of Dogecoin.

Since the birth of Dogecoin, I have been paying attention to and promoting the development of Dogecoin, from building the Dogecoin Chinese Forum to establishing the China Dogecoin Association, and participating in the 2nd Shanghai Bitcoin Summit and the Shenzhen Bitcoin Summit. Along the way, I met many loyal fans of Dogecoin. Because of Dogecoin, friends with common dreams are closely connected.

Dogecoin has been in the top seven digital currencies in terms of market value for two years. Dogecoin fans have surpassed Litecoin and become the most active and influential community after the Bitcoin community. Bitcoin is the leader of digital currencies. We have always believed that Bitcoin can succeed and have followed in its footsteps. Although Bitcoin has many advantages, it also has some disadvantages. Dogecoin can make up for some of Bitcoin's shortcomings.

1. The total amount of Bitcoin is only 21 million. Judging from the current development speed, it is far from enough. Although Bitcoin can be infinitely divided, in actual circulation, the total amount is too small and not suitable for circulation and daily payment. For example, if you buy a loaf of bread with 0.00 Bitcoin, you have to deduct the handling fee, which is obviously unrealistic. The total amount of Dogecoin is more than 100 billion, which can make up for the shortcomings of Bitcoin in small payments. It is very convenient to pay with a few or hundreds of Dogecoins. Bitcoin is suitable for commodity trading, large capital flow and collection functions. Dogecoin is suitable for small payments, tips, and mutual complementation and promotion.

2. The total amount of Bitcoin is fixed, which is a great advantage in the early stage of Bitcoin development. The total amount of legal currency has been increasing, and Bitcoin can appreciate. However, if all Bitcoins are mined after 2140, it will be obviously unfair to those who come into contact with Bitcoin later. At present, mainstream economists advocate appropriate monetary inflation. Appropriate inflation is conducive to economic development, and Dogecoin has fully considered the situation of Bitcoin at the beginning of its design and made major improvements. 100 billion was mined in the first year, and 5 billion was issued every year in the later period. After 20 years, the inflation rate of Dogecoin is 2.5%. The development of Dogecoin can attract people with different economic views to enter digital currency.

3. For Bitcoin and all digital currencies, fairness is very important in the early mining. For example, Satoshi Nakamoto has more than 1.1 million Bitcoins. Dogecoin mined 100 billion in the first year, and almost all of the coins have been fully circulated in the market. The author and the development team do not have many coins, which is relatively fairer. The transfer time of Dogecoin is greatly shortened. It takes 1 minute to transfer to any place with network in the world. Bitcoin takes 1 hour. Of course, the confirmation time of legal currency can ignore the confirmation time of several days. For circulation, it is obvious that confirmation time is as important as security.

The above lists some of the relationships between Dogecoin and Bitcoin. It does not mean that Dogecoin is better, because many advantages of Bitcoin are enough to make Bitcoin a revolutionary symbol. Dogecoin makes digital currency more perfect and supplements it. Digital currency should be diverse. Different cultures attract different people. The reward culture of Dogecoin has been promoting the development of digital currency.

The reward culture, charity culture and grassroots culture of Dogecoin have always deeply attracted me. I am too obsessed with it, but it also makes me lose some objective judgment. For example, the 100 billion Dogecoin mined in the first year, the pressure on the market, and the downturn in the entire digital currency industry in 2015, the impact on Dogecoin. Obviously, it has greatly exceeded my expectations, causing Dogecoin to slowly fall below 1 li from the highest point of 1.5, and even reached the historical bottom of about 0.5 li. I sincerely say sorry to my friends who have been following me. At the same time, I sincerely say thank you to my friends who are still standing on the same front with me. Here are the members of the association’s board of directors, Wang Bo, Zhou Zhaohui, Godfather and Xiaozhan’s BTC, etc. There are also all the members of the Chinese Dogecoin Association, and all digital currency enthusiasts. Thank you for having you, which makes my heart full of ideals and hopes. Ideals still need to be there, just in case they come true.

Since its establishment, the China Dogecoin Association has been promoting the development of Dogecoin. Tipping has been applied. The amount of reward exceeds 10 million. During this period, there has been a group of people who have silently supported, such as BitTimes, Babbitt, CoinPark, etc., and CoinPush, which has already removed Dogecoin, have made great contributions to the development of Dogecoin. At present, the vice president of the association is redeveloping the Dogecoin reward system. The era circle of BitTimes also focuses on Dogecoin. Technically, the update speed of Dogecoin wallet 1.10 blocks has shortened the update speed from more than a week to about one day. Looking forward to 2016, we will work harder to promote the development of digital currency. I hope that you will be by my side when digital currency is glorious. Thank you for having you - to all digital currency enthusiasts.

With the popularity of blockchain technology around the world, the underlying technology of Bitcoin is once again attracting global attention. Bitcoin is also slowly moving upward from the bottom. I have had in-depth discussions with several senior analysts in the digital currency circle about the current trend of Bitcoin. It is certain that a new round of Bitcoin bull market has begun. I hope that in 2016, Dogecoin can embark on a new journey. To the moon

Text: Gann

Source: Babbitt Information