Some modern cryptocurrencies are not as popular as Bitcoin, Ethereum and other leaders, but still worth the attention of gamblers. Dogecoin is a quite new but promising crypto which is gaining attention especially in 2020. The fact there are even Doge casinos proves this crypto has a lot of advantages and is useful for gaming.
Dogecoin’s underlying blockchain technology
Understanding the Dogecoin technology starts from the classic blockchain system understanding, which represents a system of data recording, and storage, which works in a net of “nodes”. “Node” means any computer connected to a blockchain. All nodes are connected and constantly exchange the latest updates of the blockchain data. Nodes store and safely keep the blockchain data. All these qualities make blockchain the safest network in the world, which is impossible to cheat or hack. That is why cryptocurrencies originally using the blockchain technology spread widely, and this market grows year by year.
There are about 900 different cryptocurrencies in the market. Some of them are very popular, and some are new and promising. A bright representative of the last category is Dogecoin. Originally started with not very serious intentions featuring a popular dog-related Internet meme, this crypto became a good example of a long-term investment in 2020.
The technology of Dogecoin works way differently from the Bitcoin mechanism because it uses different proof of work functions. That makes Dogecoin mining hard to provide, as the special equipment is not possible to buy at Amazon alike Bitcoin miners.
Dogecoin gambling industry and Doge casinos
There are many cryptocurrencies, which are used in online casinos and keep replacing other payment ways exponentially. When it comes to Dogecoin casino there are about twenty of them offering games with a possibility to use Doge. Among the games presented in online casinos are Doge roulette, blackjack, and slots. Plenty of welcome bonus packages for gamblers are offered. All you need to do is to choose wisely, when it comes to such a young and still unpredicted but anyway promising crypto. Pay attention whether the casino has a good reputation and is considered reliable amongst the world gamblers community, read reviews, and do not trust new casinos.
Dogecoin mining and wallets
Dogecoin mining is possible on specialized hardware only, which serves a purpose of paying miners a reward with new Dogecoins. As well, this mechanism helps to verify transactions and make them safe. Secured and safe Dogecoin is not as spread and popular as other cryptos because it is hard to mine it. That is why the most common way to get this crypto is to mine Bitcoins and afterwards exchange them into Doges.
Here are some types of best Dogecoin wallets useful to play online with Dodge:
- Dogecoin, Guarda Wallet, Mitex, Holy Transaction, and other online wallets.
- Keepkey, Trezor, and other apparat wallets.
- Doge Freewallet, CoinPayments, Coinomi, Android Wallet, and other app type wallets.
- Guarda Wallet, Linux Wallet, and other local ones.
- Official Doge wallets: Dogecoin Core (“hard” one) and MultiDoge (“light” one).
Dogecoin is considered one of the fast cryptos. Usually Dogecoin transactions take not a lot of time despite the fact that crypto runs on proof of work consensus mechanism.
The future of Dogecoin: what do analysts say to the date
Dogecoin is a representative of an unusual mechanism cryptocurrencies that has a very strong community support. While now it costs very less (up to $0.0033 in 2020), predictions say this crypto is going to show a rise increasing its value in the upcoming five years. If these analysts are not making mistakes in their predictions then Doge looks like an attractive long-term investment choice.