Doge vs. BTC Development: Dogecoin was founded by Jackson Palmer and Billy Markus, who both had strong backgrounds in programming. When the Dogecoin whitepaper was released, the founders admitted to coding the coin leveraging Bitcoin’s structure. As such, there is great similarity between the two coins in terms of blockchain since Dogecoin operates as Bitcoin’s replica. However, despite the similarities, there are a host of differences between the two.
Satoshi Nakamoto introduced Bitcoin to revolutionize the digital currency space. As a digital currency, BTC’s creator incorporated effective structures that made BTC circumvent the existing double-spend issue in the crypto space. Double spend was a problem, leveraged by hackers to make double payments. This was obviously a significant problem that would ruin any monetary system. However, through the introduction of timestamps, BTC was able to overcome this issue.
Dogecoin and Bitcoin’s purpose: The two coins differ concerning their purpose. Bitcoin entered the market to serve as an alternative to the traditional monetary system. Nakamoto aimed to create a system that will empower the masses and truly strengthen the financial system. This was to stand against the conventional fiat approach that focused on dominating the human population by manipulating the system, as against supporting prosperity.
The intentions of Bitcoin can be clearly gleaned from its coding, a part of which quotes the following statement “The Times 03/Jan/2009 Chancellor on brink of second bailout for banks.” The quote references a Times headline at the period BTC was created, indicating the necessity of a viable monetary system alternative.
However, Doge cannot be said to follow this same pattern. Firstly, the creators admit to inventing the coin as a joke. They wanted to make people laugh, and this reflects in the fact that the coin’s name originated from a meme.
However, following the coin’s introduction, it has enjoyed impressive goodwill in the market, which shot the coin’s value up in no time. Consequently, the creators have focused on spending returns on humanitarian projects. Although the initial gains on Doge after launch didn’t last for long, they indicated a potential future for the coin.
Doge and its Humanitarian Causes: The pattern with which Doge entered the market has created a supportive set of followers who are passionate about humanitarian causes. Following its launch, the Doge community has engaged in several community-building projects.
One of the remarkable ones remains the clean water initiative organized in Kenya, which achieved great success. The community has also helped communities with dog training assistance, among several laudable projects. Today, Doge is closely associated with the goodwill spirit.