The cryptocurrency sector is ever-growing as more people invest by the year. Many users enter this sector for various reasons, such as financial gain, fun events, etc. However, most of these users are often confused with the entire industry as they lack sufficient knowledge on how to approach it astutely.
Solana (SOL) and Litecoin (LTC) addressed some problems previous users faced, such as scalability and security. However, there needs to be more information for newbies entering the fray. Dogeliens (DOGET), the latest cryptocurrency, aims to address this problem by developing an educational platform for its users.
Dogeliens’ (DOGET) Academy Can Build a Stronger Community Behind It
Dogeliens wants to bring individuals together that will go on to create a unique environment. Furthermore, Dogeliens is an open-source platform, thus making it possible for everyone to modify its software code. This was done to promote decentralization and the benefits that come along with it. Users can freely operate without any disturbance or hindrance from centralized bodies.
Dogeliens (DOGET) is the principal token that governs the platform and grants users access to its academy. Dogeliens is aware of the significant boom and inflow of users in the cryptocurrency sector in the coming years, which is why it has developed an academy that will offer educational services to Dogeliens (DOGET) holders.
DOGET token holders will benefit massively from this as they will have no problems navigating the crypto world and zero worries about fees as it is free. This feature will prove immensely helpful for users and differentiates it from Solana (SOL) and Litecoin (LTC). Also, users can stake their Dogeliens (DOGET) for some time and earn rewards depending on the number of tokens staked and the period. DOGET is also the governance token of the platform, making holders eligible to vote on changes occurring on its network. They get to decide on improvements to guarantee its future value in the crypto market.
Solana’s (SOL) Lack of Validators Prevents It From Being Decentralized
Solana was launched to enhance the scalability of applications hosted on its blockchain. It was founded in 2017 as an open-source project run by the Solana foundation. Solana allows for faster transaction speeds and reduces the fees involved in these transactions significantly. SOL, Solana’s native cryptocurrency, grew by about 12000% in 2021 and was ranked as the 5th largest cryptocurrency. It is the cryptocurrency that maintains and develops the Solana ecosystem.
Validators and Delegators on the Solana network are rewarded with a portion of newly minted Solana (SOL) tokens and transaction fees depending on the amount staked. Also, holders of Solana (SOL) can freely access numerous projects built on the Solana blockchain.
Solana (SOL) enables developers to develop and launch Decentralized Applications (dApps) on its network that are fast and scalable. Solana (SOL) is likewise an essential method for governance permitting users to be engaged with the decision-making process that affects the platform. In any case, Solana (SOL) proprietorship is not decentralized as there are very few blockchain validators.
Litecoin (LTC) Allows For Several Exchanges But Has Issues With Transaction Speed
Litecoin was derived from Bitcoin’s open source after several adaptations and modifications were made. It was the first successful alternative cryptocurrency launched in 2011 and kick-started a wave of new altcoins. It is not controlled by any central body or authority and has a fast blockchain generation rate.
Litecoin’s native cryptocurrency, Litecoin (LTC), powers the platform. When exchanges are finished with Litecoin (LTC), it requires a tiny portion of users’ purchases, making it an essential token for users who need to perform suitable exchanges. There is an all-out supply of 84 million Litecoin (LTC) tokens. These tokens assist fledglings with improving their ventures with its in-constructed system to test crypto projects. There is added hindrance of exchanges taking longer to complete, which lowers their efficiency.
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*This article has been paid. The Cryptonomist didn’t write the article nor has tested the platform.