Shiba Inu (SHIB) and Dogecoin (DOGE) are two popular "meme cryptocurrencies", but there are a few key differences between them:
1. Origin
Dogecoin (DOGE): Created in 2013 as a joke by two software engineers, Billy Marcus and Jackson Palmer. It was inspired by the Internet meme "Doge" depicting a Shiba Inu dog. Initially, Dogecoin did not have a serious purpose, but later became popular due to its friendly community and support for charitable projects.
Shiba Inu (SHIB): Created in August 2020 by an anonymous developer under the pseudonym Ryoshi. SHIB is also based on the image of the Shiba Inu breed, but with the goal of creating a decentralized community and ecosystem that includes a decentralized exchange (ShibaSwap) and Ethereum-based tokens.
2. Technological basis
Dogecoin (DOGE): Runs on Dogecoin's own blockchain, which is based on the Litecoin protocol. It uses a Proof of Work (PoW) algorithm for mining, similar to what Bitcoin and Litecoin use.
Shiba Inu (SHIB): This is a token based on the Ethereum blockchain and the ERC-20 standard. SHIB does not have its own blockchain, as it exists on the Ethereum platform, and uses Ethereum's Proof of Stake (PoS) mechanism after the network transitions to PoS.
3. Delivery
Dogecoin (DOGE): Has no limited supply. Miners create new Dogecoin every year and this leads to inflation. Approximately 5 billion new DOGE are mined each year, meaning the supply is constantly growing.
Shiba Inu (SHIB): Has a very large but limited supply. Initially 1 quadrillion SHIB were issued, but some of this was burned, including 50% of the tokens that were sent to Ethereum founder Vitalik Buterin, who burned a large portion of them, giving the rest to charity.
4. Use and ecosystem
Dogecoin (DOGE): Mostly used as a method of digital tipping and microtransactions due to its low fees and fast transactions. Dogecoin also has a dedicated community that supports charitable initiatives and sponsorships.
Shiba Inu (SHIB): Positioned as part of a wider decentralized ecosystem. In addition to SHIB, there are two other tokens, LEASH and BONE, which have their roles in the ShibaSwap ecosystem. Shiba Inu aims to create a full-fledged decentralized finance (DeFi) platform with staking, liquidity provision and token exchange.
5. Community and support
Dogecoin (DOGE): Has one of the friendliest and most active communities in the cryptocurrency world. It gained great popularity thanks to the support of public figures such as Elon Musk. Dogecoin is known for its cheerful atmosphere and charitable initiatives.
Shiba Inu (SHIB): also has a very active community called "ShibArmy". It focuses on creating decentralized financial solutions and projects that go beyond simply using cryptocurrency for micropayments. Shiba Inu supports constant innovation in the ecosystem, in particular NFT projects.
6. Goal and vision
Dogecoin (DOGE): Originally created as a joke, it has since become a serious cryptocurrency for microtransactions and charitable donations. Its goal is to remain accessible and easy to use.
Shiba Inu (SHIB): Aims to be a "Dogecoin killer" with ambitions to build a large decentralized ecosystem. The project is aimed at serious development in the field of decentralized finance (DeFi) and NFT.
Visnovok:
Dogecoin is a simple cryptocurrency with a focus on microtransactions, friendship and charity, while Shiba Inu aims to build a sophisticated DeFi and NFT ecosystem with a focus on decentralization and financial innovation.
