Dogecoin and Axie Infinity Coin (AXS) are some of the most heavily traded alt coins. Dogecoin started as a playful idea, like a funny meme you see online while AXS comes from a magical gaming world where creatures called Axies come to life in the metaverse.

Dogecoin (Doge in short) started as another fun internet meme, and became turbocharged in popularity recently. AXS, on the other hand, benefited greatly from the metaverse hype and segued itself into a play-to-earn gaming venture.

Both are available to trade on VTRADER today. Now, let’s go into the details.

The Dogecoin Adventure

Dogecoin (DOGE) was created in 2013 as a fun option for traditional cryptocurrencies like Bitcoin. Its name and logo with a Shiba Inu dog come from an internet meme. Unlike Bitcoin, which is meant to be a limited supply, Dogecoin is deliberately abundant, with 10,000 new coins created every minute.

Dogecoin started as a ‘joke’ in late 2013 by two software developers named Billy Marcus and Jackson Palmer. They were friends on Reddit who had never met in person. They combined two popular things at the time: the rising cryptocurrency Bitcoin, an internet meme with a Shiba Inu dog, and a funny spelling of the word “dog.”

What is Axie Infinity?

Axie Infinity, developed by Sky Mavis, is an original gaming platform, while AXS is its currency. Axie Infinity Shards (AXS) and Smooth Love Potions are the two tokens in the Axie Infinity Ecosystem.

AXS holders can vote and shape the direction of the game universe. This is unlike games where the game developers make all the decisions. AXS holders stake their tokens to earn more AXS and even vote for governance proposals.

Technology and Use Cases

Let’s look into the fascinating underlying technology and real-life applications of Dogecoin and Axie Infinity Coin.

Dogecoin Technology:

Dogecoin operates on a proof-of-work blockchain technology, where miners use computers to solve complex mathematical equations to record and process transactions on the blockchain network. This approach allows for secure peer-to-peer transaction processing without needing a trusted third party. Dogecoin also incorporates cryptography technology to secure network transactions. 

Use Cases:

Digital Currency: Doge’s primary use is as a payment currency, not dissimilar to stablecoins. It can be used to pay for goods and services in online stores and peer-to-peer payments.

Decentralized Finance (DeFi): Dogecoins smart contract capabilities enable various DeFi applications, including lending, borrowing, and decentralized exchanges. Its sharding technology ensures that high transaction volumes are processed swiftly without congestion.

Sports: Another application of Dogecoin is in sports betting, a payment method used for offshore gambling websites that are unable to have traditional fiat on and off ramps. 

Axie Technology

Axie Infinity uses its cryptocurrency on Ethereum’s Proof of Work mechanism to power the game and the digital creatures called ‘Axies.’ These Axes are like unique digital pets; owning them is proven using NFTs, giving players proof of ownership. All transactions can be easily monitored on Etherscan to validate the flow of tokens.

Use Cases:

Trading: AXS is primarily used to buy Axies, breed, and participate in the Axie Infinity game.

Staking: Axie Infinity players can also stake their Axies to earn rewards like a share of the game’s revenue and a share of government rights. Players can equally trade AXS tokens on different crypto exchanges, making them valuable in crypto trading.

Market Capitalization and Value Proposition

Doge has a market cap of $8.93B, implying a high market value. Its value proposition lies in its global recognition and adoption, which also makes it often viewed as a user-friendly entry point for crypto newbies. Its low gas fees and active community support further contribute to its appeal as a digital payment and tipping solution.

AXS has a $690M market cap, with 52% of the tokens currently in circulation and a 270M AXS total supply. Due to its blend of blockchain and gaming, Axie Infinity is proving the potential of crypto in gaming. It houses a vibrant ecosystem of players who have benefited from AXS, earning rewards by participating in the game.

Smart Contracts and DApps

Dogecoin: Doge offers limited but expanding support for smart contracts, enabling basic DApps like decentralized finance (DeFi) protocols.

AXS: Primarily used for the Axie Infinity game ecosystem, which includes complex smart contracts governing gameplay, token rewards, and marketplaces.

Privacy and Anonymity

Dogecoin implements native cryptography to secure all blockchain transactions. Though every transaction on the blockchain is public (i.e., anyone can see what Dogecoin’s transactions were made on the blockchain if the user has a public wallet address), users can anonymize their public addresses for every transaction.

This added layer of user control over the visibility of transaction details contributes to a more comprehensive understanding of Dogecoin’s approach to privacy and transparency within its blockchain ecosystem.

AXS token focuses more on in-game transactions and NFT ownership; privacy features are limited to the security features of Ethereum’s Proof of Work mechanism. With PoW, miners compete to solve complex mathematical puzzles to validate transactions. These mechanisms protect AXS against fraudulent activities and maintain the integrity of the blockchain.

Price History

Doge creeped above $0.01 in January 2018. In 2021, between Dog grew quickly and exponentially, even hitting $0.70 after Tesla’s Elon Musk’s appeared on Saturday Night Live. And as of August, 2023, Dogecoin has hovered around $0.06. 

On the other hand, Axie Infinity launched in October 2020. The first AXS exchange rate was $0.432. The lowest was the same in December 2020, and the highest was $158.14 in November 2021. In the first year, AXS ended at $0.534, a 123.64% increase from the start. The best year for AXS was 2021, with an average of $46.15. It finished the year at $93.50 after hitting a peak of $165.05.

Expectedly, the past and future price movements assumed of both are connected to more prominent market trends, technology changes, rules, and the stories around their ecosystems.

Partnerships and Collaborations

Dogecoin’s collaborations are more community-driven. It has sponsored NASCAR races. It has also participated in charitable fundraisers and gained support from notable figures in the entertainment industry, enhancing its visibility and adoption among a broader audience.

Evaluating notable websites that accept Dogecoin, we see Crypto Emporium, Tesla, Twitch, Microsoft, AirBlatic, and Newegg.

The native AXS token has also been listed on exchanges like  VTRADER, Binance and Bit2Me. GameFi, a gaming platform, also recently partnered with AXS to allow players to trade, breed, and battle these creatures using GameFi’s native token, GAMEFI.

Pros and Cons

It’s clear that these cryptocurrencies have developed very different ecosystems. Each have their strengths and appeals to different people. 

Dogecoin started as a funny meme and has grown into a globally recognized digital currency. With its easy-to-use technology and increasing popularity, it’s becoming a common choice for many. Interestingly, Dogecoin transactions often come with lower transaction fees, making it a viable option for payments. 

Axie Infinity’s virtual universe has captured the imaginations of gamers and crypto enthusiasts. While both have their place, Dogecoin’s steady rise suggests it might have an edge with its real-world uses. Nonetheless, Axie Infinity’s potential to reshape gaming is undeniably exciting. 

As we explore, it’s clear that both these tokens have made significant progress. Even though they’re going in different directions, they show us how cryptocurrencies change how we do things. Whether you like the fun of Dogecoin or the exciting chances of AXS, this comparison tells us that the crypto world is full of different stories and ideas.