The key difference between Dogecoin and Tether
In case you want to convert Doge to USDT or vice versa USDT to Doge it may be useful to learn the difference in technology that stands behind these two cryptocurrencies. Dogecoin is based on Bitcoin that can be regarded as the father of all cryptocurrencies. Dogecoin was initially created as a simple joke as it’s based on the popular internet meme Doge and it doesn’t offer its users any special improvements apart from the transaction speed.
Tether, on the contrary, offers something special as it is a stable coin with the rate that never becomes bigger or smaller than $1. It may fluctuate for plus and minus 10% but no more than that. Converting Dogecoin to Tether can be especially useful when the cryptocurrency market is at the downtrend and all cryptocurrencies lose their value.
What is Dogecoin mining algorithm?
If you want to switch Tether to Dogecoin you should also be aware of the mining algorithm that stands behind these two cryptocurrencies. As Dogecoin is based on bitcoin it has the same mining algorithm behind it which is called proof-of-work. The computers consume electricity in order to resolve computational tasks and they receive a reward for the work they do. As with time the difficulty increases and you have to consume more electricity, the profitability of such operations gets lower.
How is Tether produced?
Unlike Dogecoin and many other cryptocurrencies, Tether cannot be created by separate users and can only be produced by the issuing company. If you want to protect yourself from the cryptocurrency volatility you can convert Dogecoin to Tether on any exchange or just buy Tether from the issuing company.
The circulating supply of Dogecoin equals to 118,793,665,312, while its maximum supply equals to emission infinite.
For Tether, the circulating supply equals to 2,020,708,392, while its maximum supply equals to emission infinite.
If you want to switch USDT to Doge, the market capitalization is a very important index that you should pay attention to.
For Dogecoin, the current market capitalization equals to $244,124,895.00. Tether’s capitalization equals to $2,032,542,386.00.