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What makes Samoyedcoin unique?Dogecoin (DOGE) in Crypto: What It Is, History, Uses
What makes Samoyedcoin unique?
The biggest difference between Samoyedcoin and other meme tokens is the fact that it's issued on Solana, which is one of the most advanced smart contract blockchains. It has a unique method of verifying transactions that combines proof of stake with its own system, proof of history.
What this means for Samoyedcoin is that it has some of the most efficient transactions of any meme token. Here's a breakdown provided by Samoyedcoin's “whitepawper”:
- Transaction cost: $0.0005
- Transaction speed: 0.8 seconds
- Energy per transaction: 1,837 Joules, about the same as one Google search
That's significantly faster, cheaper, and more energy-efficient than Dogecoin and Shiba Inu. Dogecoin transactions normally range from about $0.10 to $0.30 and take 60 seconds. Because Shiba Inu is built on the Ethereum (ETH -2.02%) blockchain -- which is often congested -- transaction fees are typically anywhere from $5 to $30 or more.
In addition to a cryptocurrency, there's also a Samoyedcoin collection of non-fungible tokens (NFTs). As Samoyedcoin grows, the plan is to provide SAMO crypto and NFT holders with special benefits.
Samoyedcoin has a unique philosophy for marketing and building its community. It aims for a non-contentious culture with no shilling, meaning no aggressive self-promotion. That's much different than many meme tokens, given that this type of cryptocurrency is known for all-out marketing campaigns designed to hype the project and pump up the price.
Where Samoyedcoin came from
The founders of Samoyedcoin haven't released their identities and go by the pseudonyms smsl and Hot Onion. They both learned about Solana in early 2021, appreciated its technological advantages, and decided that it could use a fun meme project.
Samoyedcoin launched in April 2021, starting with an air drop of 1 million SAMO tokens to 2,000 community members. The founders are still the project's core team members, and they've also added a team lead, a team co-lead, and a marketing lead. The biggest difference between Samoyedcoin and other meme tokens is the fact that it's issued on Solana, which is one of the most advanced smart contract blockchains. It has a unique method of verifying transactions that combines proof of stake with its own system, proof of history.
What this means for Samoyedcoin is that it has some of the most efficient transactions of any meme token. Here's a breakdown provided by Samoyedcoin's “whitepawper”:
- Transaction cost: $0.0005
- Transaction speed: 0.8 seconds
- Energy per transaction: 1,837 Joules, about the same as one Google search
That's significantly faster, cheaper, and more energy-efficient than Dogecoin and Shiba Inu. Dogecoin transactions normally range from about $0.10 to $0.30 and take 60 seconds. Because Shiba Inu is built on the Ethereum blockchain -- which is often congested -- transaction fees are typically anywhere from $5 to $30 or more.
In addition to a cryptocurrency, there's also a Samoyedcoin collection of non-fungible tokens (NFTs). As Samoyedcoin grows, the plan is to provide SAMO crypto and NFT holders with special benefits.
Samoyedcoin has a unique philosophy for marketing and building its community. It aims for a non-contentious culture with no shilling, meaning no aggressive self-promotion. That's much different than many meme tokens, given that this type of cryptocurrency is known for all-out marketing campaigns designed to hype the project and pump up the price.
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Is Samoyedcoin a good investment?
Samoyedcoin is a cryptocurrency you're better off avoiding. Meme tokens are usually more gambles than investments, and that's the case here.
The problem with Samoyedcoin is that, just like most of its competitors, it doesn't have any special selling points or use cases. The only real difference is that it's built on Solana. That may be enough for it to go on a run, but when you buy a meme token in hopes it will get more popular, you're relying on good fortune to carry your investment.
The crypto market as a whole is risky, but there are plenty of higher-quality investment opportunities out there. If you like Solana, it makes a lot more sense to simply invest in that than Samoyedcoin. Other smart contract blockchains, such as Ethereum and Cardano (ADA -2.52%), are also popular choices. Last but not least, there's always Bitcoin (BTC -1.35%) and cryptocurrency stocks.
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How to buy Samoyedcoin
You won't find Samoyedcoin on all the most well-known crypto exchanges, but there are some large platforms that have it available. Here are a few places where you can buy Samoyedcoin:
Another option is to trade for Samoyedcoin on a decentralized exchange. You'll need your own blockchain wallet to do this since these exchanges don't let you buy crypto using fiat money. The benefit of using them is that several have lending and liquidity pools where you can stake your SAMO tokens and earn interest.
Like other dog-themed cryptos, Samoyedcoin doesn't have much to offer outside of a cute mascot. While that was enough to generate some big returns last year, it isn't a good idea to expect a repeat performance.
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