From Shiba Inu to Pot and Putin the bizarre world of cryptocurrency names – The Indian Express

The craze around cryptocurrencies mainly Bitcoin and Ethereum has inspired a massive number of startups to create their own digital coins and attract investors interest in the fast-growing digital asset class.

While there are plenty of cryptocurrencies in circulation with respect to their unique utility and value, in this story we explore the weirdest and silly coins that have surfaced over the past several years.

Dogecoin was created in 2013 by software engineers Billy Markus and Jackson Palmer as a faster but fun alternative to Bitcoin. It was started as a satire on the numerous fraud crypto coins that had sprung up at the time, and takes its name and logo from a Shiba Inu meme that was viral several years ago.

Unlike Bitcoins, whose maximum possible number is fixed at 21 million (a figure that is estimated to be reached by 2040), Dogecoin numbers do not have an upper limit, and there are already more than 100 billion in existence.

When the crypto coin first took off, the online community that was backing it invited attention by supporting unconventional causes, such as sponsoring Jamaicas bobsled team at the 2014 Winter Olympics.

Also that year, the Dogecoin community gave $55,000 worth of the digital token to a Nascar driver in the US. Doge also has an ardent supporter in Tesla CEO Elon Musk, who frequently tweets have added to the digital tokens mania. Musk had once changed his Twitter bio to Former CEO of Dogecoin. Other celebrities, including rapper Snoop Dogg and rock musician Gene Simmons, have also promoted it on social media.

Potcoin, as the name suggests refers to a network that facilitates buying legal marijuana. Itis a digital currency that allows consumers to buy and sell cannabis products anonymously.

The digital coin provides a banking solution that brings marijuana businesses and consumers together on a decentralized peer-to-peer platform, allowing participants all around the world to make secure transactions.

Interestingly, on June 12, 2017 the Potcoin community sponsored Dennis Rodman, an American former professional basketball player and an unofficial US Peace Ambassador to North Korea to visit North Korea and negotiate peace between the United States and Kim Jong-un. While it is unclear if this endeavor effectively promoted the pacifist values of the community, but it proved to be highly profitable for the notoriety of the coin and the project as a whole. otcoins community grew 600 per cent overnight.

There are a number of cannabis-focused coinsincluding CannabisCoin, KushCoin, Bongger, Ganjacoinpro, and others.

Kodak, is the latest company to step into the cryptocurrency bandwagon. The camera company announced Kodakcoin at an event in January to manage digital image rights and to pay photographers for image usage. The camera maker even announced a new Kodak KashMiner mining rig to go with it.

The digital coin will work with Kodak One, a new platform that is supposed to help photographers license their images.

Dentacoin is a cryptocurrency for the global dental industry. The company in a blog post notes that it is on a mission to improve oral health globally using:1. a preventive, smart contract-based dental assurance model2. a set of dental apps, incentivising beneficial user behaviour3. a functioning cryptocurrency, used for rewards and payments

Founded in 2017, the Netherlands-based Dentacoin Foundation is the autonomous organization behind the Dentacoin blockchain-based solutions and the same-named cryptocurrency. The legal structure of the Foundation ensures the proper execution of the mission and protects users interest as it functions solely.

Trumpcoin describes itself as a cryptocurrency supporting the Trump administration and its followers which it calls Patriots. The Trumpcoin in a blog post describes itself, as staunch supporters of Trump who love Freedom, God, Family and feels a sense of pride in contributing to society, and stand firm against leftist groups and intimidation.

The blockchain company notes that 200,000 of the six million available Trumpcoins have been set aside for donation to the Trump administration once the currency reaches a substantial value.

Trumpcoins counterpart: the Putincoin, is a cryptocurrency named after the Russian President Vladmir Putin. The decision to develop a cryptocurrency dedicated to Russia was made to support the fast growing Russian economy and market within the country and beyond its borders.

Putincoin, on its website highlighted that with the coin a lot of possibilities will be provided for businesses, traders, private persons, social and economic projects. The present and future technology, services and apps are and will always be free to use.

Burger King, one of the biggest fast-food chains in the world has introduced the Whopper Coin. The cryptocurrency was launched by the Russian branch of Burger King as a loyalty program in the summer of 2017.

This was an initiative of Burger King Russia, and the idea was that for every Russian rouble spent in a Burger King outlet, customers were given a Whoppercoin.

This Whoppercoin can be used to buy, well, a Whopper. If the customers have 1700 Whoppercoins, the company allowed customers to buy Burger Kings flagship sandwich.

Shiba Inu (SHIB) is an Ethereum-based cryptocurrency that featuresa Japanese breed of hunting dogas its mascot. The cryptocurrency is widely considered to be an alternative to Dogecoinin fact, proponents of Shiba Inu tout it as the Dogecoin killer.

According to Shiba Inu founder Ryoshi, it earned the nickname the Dogecoin killer because the value of SHIB is primed and ready to overtake the value of Dogecoin. Ryoshi adds that even if SHIB never hits $0.01, SHIBs publicity and utility mean that it will be worth proportionately more than Dogecoin.

Crypto enthusiasts and experts are still grappling to come to terms with the SHIBs all-time high market capitalisation which has now surpassed some major Indian companies such as Adani Enterprises, Tata Steel, and Tech Mahindra. With a market capitalisation of more than $38 billion, Shiba Inu is now the 11th largest cryptocurrency.

Garlicoin is a memecoin started in 2018,, based on garlic bread memes. It used to be extremely popular but still retains a large community with some loyal followers who continue to support and try to expand it.

A community of Reddit users thought it would be funny to create a cryptocurrency inspired by garlic bread, and so they did. Garlicoin is created by mining, and has a total supply cap of 69 millions.

Mooncoin was conceived primarily for frequent, global micro-transactions, hence its maximum supply of 384 billion coins. This number was derived from the calculation of one coin for every millimeter between Earth and the Moon. Its also got its own programming language called MoonWord for decentralised app (DApp) coding and blockchain record-keeping.

Comparisons have often been made between Mooncoin and Dogecoin, and there are some similarities. Both were created at roughly the same time period, and both are meant for quick micro-transactions. Also, both are taken from a Litecoin concept, as all three use the Scrypt algorithm, which is faster and more complex than Bitcoins SHA-256 mining equipment protocol.

However, a noteworthy distinction exists in basic coin supply structure: Dogecoin has no maximum circulating coin supply (i.e., infinite supply), whilst Mooncoin has a maximum cap on the total possible number of coins, making it deflationary and attractive as a store of value.

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From Shiba Inu to Pot and Putin the bizarre world of cryptocurrency names - The Indian Express