Bitcoin was created when the world was reeling from the shockwaves of the 2008 financial crisis, created largely by years of shoddy policymaking by central banks around the world. So Bitcoin imbued the principle of decentralisation to its core so as to be the replacement for central banks and fiat currencies. Decentralisation has now become what separates sustainable crypto projects from those that are not. Cardano is one project that has incorporated decentralisation into its project to triumph in the market. Now, DogeMiyagi, a new project in presale, is looking at the path charted by Bitcoin and Cardano to incorporate principles to win in the crypto game.
Bitcoin: The Market-Defining Crypto
Bitcoin was created as an alternative to fiat currencies that central banks control. Bitcoin is a fully decentralised network that has no central authority calling the shots in the network. The fully transparent network was launched as open-source software in 2009. Its proof of work consensus mechanism verifies the network’s recorded transactions and does not need intermediaries.
The decentralised nature of Bitcoin gives it a degree of transparency that central banks can only aspire to. The transactions done on the network are also highly secure by virtue of using immutable blockchain technology. Bitcoin’s decentralised nature and its ability to be a store of value have made it the largest crypto with a market capitalisation that dwarfs its nearest competitor.
Cardano: The Challenger in the Decentralised Asset Space
Cardano was created to address the blockchain trilemma of achieving decentralisation, security and scalability in high measure and without compromising on any. The network has a high degree of decentralisation and allows smart contracts and dApps to operate.
Cardano achieves decentralisation with its proof-of-stake consensus mechanism that relies on holders staking their ADA to verify transactions on the network. The decentralised structure, scalability, and security make it highly suitable for building dApps and DeFi projects. The network is a dominant player in NFTs and other dApps. DeFi activity on the network has also been picking up, showing the prowess of its decentralised network.
DogeMiyagi: The Zen Master of the Crypto World
DogeMiyagi belongs to the meme coin niche and has caught the attention of the crypto world with its development plans. The project combines all the fun elements of a meme coin and adds serious heft to the project with its ecosystem. Decentralisation is the cornerstone of the project’s plans for winning the crypto game.
The project places control of the DogeMiyagi network in the hands of its community and has stated that it will be a full DAO network after launch. The network will use MIYAGI as its governance token, through which holders will be able to take part in the decision-making process in the network.
Decentralisation allows the DogeMiyagi network to put its community at the centre of the project. The network has a referral program that rewards the holders of MIYAGI. Holders can refer friends and family, and when they join the network, they can get a sweet 10% commission. The referral code is linked to the holder’s wallet.
The Last Bite
Decentralisation can be thought of as the central idea that makes cryptos valuable. Bitcoin and Cardano have leant on their decentralised networks to make waves in the market. DogeMiyagi is using the success stories of Bitcoin and Cardano to make itself stand out from its competition and also accrue wealth for its community.
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