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Dogecoin vs Baby Doge Coin, What's the Difference?

Navigasi - Since its appearance in 2013, Dogecoin has managed to attract the attention of many traders and even occupies the tenth position in the list of leading assets by market capitalization. Most recently, the name Dogecoin is back in the spotlight due to the presence of a new crypto asset called Baby Dogecoin. The site Bybit Learn reports that Baby Doge Coin has managed to experience a 1,050 percent price spike in its first two weeks since its launch on June 1, 2021. So, is Baby Doge Coin the same as Dogecoin? Come on, find out in more detail about Baby Doge Coin vs Dogecoin in the following review.

Know What is Baby Dogecoin



Baby Doge Coin (symbol: BABYDOGE) is a new meme token launched in early June 2021. The official Baby Doge website mentions that the founder of Baby Doge is a fan or online community of Dogecoin assets.

Despite its similar name to Dogecoin, Baby Doge is technically a token with no underlying technology or utility. This token has a high level of deflation with an integrated staking system. The system is designed to reward its HODLers in the form of BABYDOGE coins from every transaction that occurs on the network.

The main attraction of Baby Doge Coin actually lies in its focus on being a charitable platform. In his whitepaper, Baby Doge seeks to fulfill his mission to save dogs around the world who need help. The Bybit Learn website states that Baby Doge has a charity wallet of 2.2 percent of its total supply. This wallet receives 2.2 percent of the 5 percent transaction fee distributed to existing token holders.

So far, the team has donated US$75,000 or equivalent to Rp1 billion for Paws With Cause. Paws With Cause is a non-profit organization based in Everett, Washington, that helps dogs at local shelters.

The limited amount of supply is the reason behind the Baby Doge's very low price. The price of Baby Doge Coin on August 23 was only at a value of 0.000000001464 US dollars. While at the time this article was written, the price of Baby Coin (BABYDOGE) to IDR was IDR 0.000009287.

How Baby Doge Coin Works


Baby Doge charges a transaction fee of 10 percent on each sale transaction. This transaction fee is intended to keep the Baby Doge network active while keeping token holders to HODL their assets longer.

As much as 5 percent of the transaction fee will be distributed to all token holders, according to the amount of assets they have. Then, the remaining 5 percent will be divided in half by each, amounting to 2.5 percent. Where this 2.5 percent will be owned by Baby Doge Coin, and the remaining tokens will be traded to a coin that functions as a liquidity pool.

In addition, an integrated smart staking system was created to reward Baby Doge holders. That way, more Baby Doge assets will be added to the token holder's wallet, every time another user completes a transaction.

Dogecoin vs Baby Doge Coin, What's the Difference?


Basically, Baby Doge Coin and Dogecoin are popular cryptocurrencies among crypto enthusiasts. Dogecoin has enjoyed much longer popularity and is more prominent as one of the most traded cryptocurrencies per market cap.

When viewed from a utility perspective, Dogecoin is a sustainable crypto asset that utilizes a decentralized model using blockchain technology. On the other hand, since the Baby Doge Coin is still in its infancy, it does not provide a clear practical use.

Below are other differences of Dogecoin vs Baby Doge Coin that you need to know.

Baby Doge Coin


Quoted from a tweet on the official Baby Doge account, at the beginning of last September, Baby Doge Coin had managed to collect 584 thousand token holders.

Baby Doge has a limited amount of stock, this is certainly different from Dogecoin. Due to this limited supply, it becomes hyper-deflationary. In fact, about 35 percent of the total supply has been destroyed by the BABYDOGE team.

Dogecoin


What is Dogecoin? Dogecoin itself is an asset that has managed to rank among the top 10 cryptocurrencies by market cap. In addition, Dogecoin also has a market capitalization of around 31 billion US dollars, which made it the eighth largest cryptocurrency on the market at that time.

Dogecoin is powered by Litecoin-derived blockchain technology, with a focus on decentralization. In contrast, Baby Doge Coin resides in a centralized smart chain.
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