When comparing Shiba Inu (SHIB) and Dogecoin (DOGE) in terms of technological development, Shiba Inu appears more advanced due to its ecosystem and the use of modern blockchain technologies. Here’s why:
1. Blockchain and underlying technology
Dogecoin:
Based on Litecoin's code, which in turn is a fork of Bitcoin.
Uses an outdated Proof-of-Work (PoW) mechanism that requires significant energy costs for mining.
The Dogecoin blockchain is comparatively simple, does not support smart contracts or complex decentralized applications (dApps).
Shiba Inu:
Functions as an ERC-20 token on the Ethereum blockchain, providing access to powerful tools and the Ethereum ecosystem.
Ethereum's transition to Proof-of-Stake (PoS) makes it more environmentally sustainable and efficient.
Thanks to the ERC-20 standard, SHIB easily integrates with most DeFi protocols.
2. Ecosystem
Dogecoin:
Focuses only on transactions and value storage.
Technical development is minimal, and code updates occur rarely.
Shiba Inu:
Develops its own ecosystem, including:
ShibaSwap: a decentralized exchange (DEX) for token swapping, staking, and farming.
LEASH and BONE tokens: additional tokens to enhance the ecosystem's functionality.
Shibarium: a future level 2 blockchain that promises cheaper and faster transactions, reducing reliance on Ethereum.
Integration into the metaverse and NFT projects.
3. Development Team
Dogecoin:
Developers work on the project voluntarily, without significant investments.
Updates are slow, and the project has long been regarded as a meme.
Shiba Inu:
An active team that regularly adds new features and develops the project.
A more ambitious approach to ecosystem expansion.
Conclusion
Shiba Inu clearly benefits from technological advancement due to its ecosystem, integration with Ethereum, and plans to develop new products such as the Shibarium blockchain. Dogecoin, although older, remains a simple and less technologically advanced currency focused on meme culture and communities.