American officials generally see things the wrong way. Ever since China launched the digital yuan, a digitized version of China’s legal tender, officials in Washington have been scrambling to stay ahead in the race for the digital dollar. Creating a digital dollar is the right goal, but doing it to counter China is the wrong reason. The US goal of creating a digital currency just to beat China will overlook new technological innovations in the blockchain industry.
digital asset like Dogecoin (DOGE) has been a celebrity favorite. Elon Musk, who was instrumental in founding Paypal, understands money better than other industry experts. In his many interactions with the media and on Twitter, he has come out in favor of the dog-themed meme token.
“Bitcoin doesn’t have good transaction value, Dogecoin does,” Elon said in TIME Magazine’s Person of the Year interview. Well Named. Dogecoin, compared to Bitcoin, is easy for regular daily transactions because it encourages people to spend, which is healthy for a running economy.
However, can big eyed room (BIG) dethroning Dogecoin?
Dogecoin versus Bitcoin
Many experts would suggest that Bitcoin (BTC) can be used as a digital currency due to its history. Indeed, Bitcoin is the pioneer of blockchain-based cryptocurrencies and Dogecoin was simply launched to poke fun at it. However, as the tables turned, Dogecoin’s market capitalization rose to $84 billion, making it one of the most valuable meme coins.
Due to its low transaction fees and easy circulation in the market, Dogecoin is preferred as the alternative currency of the world. The inflationary factor allows the community to create DOGE 5B tokens every year, enough for the transactional game of demand and supply in the US economy.
But the digital dollar shouldn’t be confused with the money that shows up in your phone’s banking app. Rather, it will be the currency that will be a cryptographic representation of the money that the Federal Reserves issue today in the United States.
The unique fusion of the centralized mechanism of the Federal Reserve and the decentralized outlook of Dogecoin can provide a digital dollar that would be trusted, used, and celebrated by citizens.
Alternatives to Dogecoin
You could say that even the US dollar is on the verge of crashing, so why should cryptocurrencies be immune? Looking at current crypto market trends, most coins are green again. Investors have left behind the horrors of the crypto crash. And now, new meme tokens have been launched that are proving to be a viable alternative to dog-themed coins or the king of coins, Bitcoin.
Big Eyes Coin (BIG), intends to dethrone the dominance of dog-themed coins with its irresistibly cute cat mascot. The meme token also intends to put wealth into the decentralized finance (DeFi) ecosystem by reminiscent of the crypto lending and borrowing mechanism.
Similar to Dogecoin, Big Eyes Coin can process faster payments at low fees. The icing on the cake is the built-in NFT club which can be used by the Federal Reserve to popularize the use of the digital dollar.
With the emergence of blockchain technology, the United States can cash in and revamp the economic system by investing resources in the digital dollar project. If done for the right reasons, America’s first digital currency will be accepted and widely used.
big eyed room and Dogecoin both provide solutions to the problems facing US authorities to finalize and greenlight the digital currency. Also consider Big Eyes Coin for your next crypto investment. The markets are back on track and Big Eyes Coin has raised over $9 million in its presale. This is probably the best time to invest and get the maximum return.
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Disclaimer: This is a sponsored post. The views and opinions presented in this article do not necessarily reflect the views of CoinCodex. The content of this article should not be considered investment advice. Always do your own research before deciding to buy, sell or transfer crypto assets.