The craze round cryptocurrencies primarily Bitcoin and Ethereum has impressed a large variety of startups to create their very own digital cash and entice traders curiosity within the fast-growing digital asset class.
Whereas there are many cryptocurrencies in circulation with respect to their distinctive utility and worth, on this story we discover the weirdest and foolish cash which have surfaced over the previous a number of years.
Dogecoin was created in 2013 by software program engineers Billy Markus and Jackson Palmer as a quicker however “enjoyable” different to Bitcoin. It was began as a satire on the quite a few fraud crypto cash that had sprung up on the time, and takes its title and brand from a Shiba Inu meme that was viral a number of years in the past.
Not like Bitcoins, whose most doable quantity is fastened at 21 million (a determine that’s estimated to be reached by 2040), Dogecoin numbers wouldn’t have an higher restrict, and there are already greater than 100 billion in existence.
When the crypto coin first took off, the net group that was backing it invited consideration by supporting unconventional causes, akin to sponsoring Jamaica’s bobsled crew on the 2014 Winter Olympics.
Additionally that 12 months, the Dogecoin group gave $55,000 value of the digital token to a Nascar driver within the US. “Doge” additionally has an ardent supporter in Tesla CEO Elon Musk, who regularly tweets have added to the digital token’s mania. Musk had as soon as modified his Twitter bio to “Former CEO of Dogecoin.” Different celebrities, together with rapper Snoop Dogg and rock musician Gene Simmons, have additionally promoted it on social media.
Potcoin, because the title suggests refers to a community that facilitates shopping for authorized marijuana. It is a digital foreign money that permits shoppers to purchase and promote hashish merchandise anonymously.
The digital coin gives a banking answer that brings marijuana companies and shoppers collectively on a decentralized peer-to-peer platform, permitting contributors all world wide to make safe transactions.
Apparently, on June 12, 2017 the Potcoin group sponsored Dennis Rodman, an American former skilled basketball participant and an unofficial US Peace Ambassador to North Korea— to go to North Korea and negotiate peace between the USA and Kim Jong-un. Whereas it’s unclear if this endeavor successfully promoted the pacifist values of the group, however it proved to be extremely worthwhile for the notoriety of the coin and the mission as an entire. Ᵽotcoin’s group grew 600 per cent in a single day.
There are a selection of cannabis-focused cash—together with CannabisCoin, KushCoin, Bongger, Ganjacoinpro, and others.
Kodak, is the most recent firm to step into the cryptocurrency bandwagon. The digital camera firm introduced Kodakcoin at an occasion in January to handle digital picture rights and to pay photographers for picture utilization. The digital camera maker even introduced a brand new Kodak KashMiner mining rig to go along with it.
The digital coin will work with Kodak One, a brand new platform that’s supposed to assist photographers license their photos.
Dentacoin is a cryptocurrency for the worldwide dental business. The corporate in a weblog submit notes that it’s on a mission to enhance oral well being globally utilizing:
1. a preventive, good contract-based dental assurance mannequin
2. a set of dental apps, incentivising useful person behaviour
3. a functioning cryptocurrency, used for rewards and funds
Based in 2017, the Netherlands-based Dentacoin Basis is the autonomous group behind the Dentacoin blockchain-based options and the same-named cryptocurrency. The authorized construction of the Basis ensures the correct execution of the mission and protects customers’ curiosity because it features solely.
Trumpcoin describes itself as a cryptocurrency supporting the Trump administration and its followers which it calls ‘Patriots’. The Trumpcoin in a weblog submit describes itself, as staunch “supporters of Trump who love Freedom, God, Household and feels a way of delight in contributing to society, and stand agency towards leftist teams and intimidation.”
The blockchain firm notes that 200,000 of the six million accessible Trumpcoins have been put aside for donation to the Trump administration as soon as the foreign money reaches ‘a considerable worth’.
Trumpcoin’s counterpart: the Putincoin, is a cryptocurrency named after the Russian President Vladmir Putin. The choice to develop a cryptocurrency devoted to Russia was made to help the quick rising Russian financial system and market inside the nation and past its borders.
Putincoin, on its web site highlighted that with the coin “a variety of prospects shall be supplied for companies, merchants, non-public individuals, social and financial tasks. The current and future know-how, providers and apps are and can all the time be free to make use of.”
Burger King, one of many greatest fast-food chains on the planet has launched the Whopper Coin. The cryptocurrency was launched by the Russian department of Burger King as a loyalty program in the summertime of 2017.
This was an initiative of Burger King Russia, and the thought was that for each Russian rouble spent in a Burger King outlet, prospects got a Whoppercoin.
This Whoppercoin can be utilized to purchase, effectively, a Whopper. If the shoppers have 1700 Whoppercoins, the corporate allowed prospects to purchase Burger King’s flagship sandwich.
Shiba Inu (SHIB) is an Ethereum-based cryptocurrency that options—a Japanese breed of searching canine—as its mascot. The cryptocurrency is broadly thought-about to be a substitute for Dogecoin—the truth is, proponents of Shiba Inu tout it as “the Dogecoin killer.
In accordance with Shiba Inu founder Ryoshi, it earned the nickname “the Dogecoin killer” as a result of the worth of SHIB is “primed and able to overtake the worth of Dogecoin.” Ryoshi provides that even when SHIB by no means hits $0.01, SHIB’s publicity and utility imply that it is going to be value proportionately greater than Dogecoin.
Crypto fans and consultants are nonetheless grappling to come back to phrases with the SHIB’s all-time excessive market capitalisation which has now surpassed some main Indian firms akin to Adani Enterprises, Tata Metal, and Tech Mahindra. With a market capitalisation of greater than $38 billion, Shiba Inu is now the eleventh largest cryptocurrency.
Garlicoin is a memecoin began in 2018,, based mostly on garlic bread memes. It was extraordinarily well-liked however nonetheless retains a big group with some loyal followers who proceed to help and attempt to increase it.
A group of Reddit customers thought it might be humorous to create a cryptocurrency impressed by garlic bread, and they also did. Garlicoin is created by mining, and has a complete provide cap of 69 tens of millions.
Mooncoin was conceived primarily for frequent, world micro-transactions, therefore its most provide of 384 billion cash. This quantity was derived from the calculation of 1 coin for each millimeter between Earth and the Moon. It’s additionally acquired its personal programming language referred to as MoonWord for decentralised app (DApp) coding and blockchain record-keeping.
Comparisons have typically been made between Mooncoin and Dogecoin, and there are some similarities. Each have been created at roughly the identical time interval, and each are meant for fast micro-transactions. Additionally, each are taken from a Litecoin idea, as all three use the Scrypt algorithm, which is quicker and extra complicated than Bitcoin’s SHA-256 mining tools protocol.
Nonetheless, a noteworthy distinction exists in primary coin provide construction: Dogecoin has no most circulating coin provide (i.e., infinite provide), while Mooncoin has a most cap on the whole doable variety of cash, making it deflationary and enticing as a retailer of worth.