Decentralised finance (DeFi) is evolving rapidly and partly due to the pressure from regulators aiming to control cryptocurrency's wild landscape, where environmental concerns and scams have occurred. Most issues surrounding cryptocurrency can be solved with sustainable decentralisation. A plucky meme coin still in pre-launch aims to do DeFi better than Bitcoin (BTC) and Shiba Inu (SHIB) with its sustainable DeFi approach.
Bitcoin: The First Decentralised Crypto Coin
You can call Bitcoin 'The Mother of DeFi' since it was the first currency generated through computer mining using the Proof-of-Work (PoW) consensus mechanism. BTC allowed people to generate, hold and trade money independently from their computers without the need for third-party involvement from banks.
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This exciting new technology catapulted Bitcoin into the most valuable cryptocurrency today. However, Bitcoin's PoW mechanism became its own worst enemy, leading the mining of BTC to release 62 megatons of carbon dioxide equivalent per year. It became clear that Bitcoin would cause more harm than good when scaled up—so investors are now searching for sustainable cryptocurrencies.
Shiba Inu: Ambitious Ecosystem
When Shiba Inu launched in 2020, it wanted to be the coin to correct the problems of BTC and Dogecoin (DOGE). Firstly, it took inspiration from DOGE by using its meme power to represent SHIB since it saw meme coins as the future of cryptocurrency. Secondly, SHIB uses the Proof-of-Stake (PoS) mechanism that makes generating the crypto energy-efficient, unlike BTC and DOGE—all whilst having faster transactions at lower cost-fees.
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SHIB is working on impressive projects such as a decentralised exchange, NFT art and metaverse space to create a rich ecosystem for its community. While SHIB is working towards adapting to Web 3.0, could DogeMiyagi have greater fundamentals and meme potential than SHIB?
DogeMiyagi's Community-Led Fundamentals
Still in pre-launch, DogeMiyagi (MIYAGI) is a meme coin that brings something new to the table of Doge-based meme coins. MIYAGI combines the characteristics of the Mr Miyagi character from the Karate Kid movie franchise with the Doge meme—creating a meme coin based on fun and honourable values.
MIYAGI is inherently ethical, utilising the PoS mechanism that makes the meme coin sustainable when scaled up. However, MIYAGI goes ahead above SHIB in terms of decentralisation by building the coin on the foundation of its community that 100% run and govern MIYAGI.
DogeMiyagi is proven to be dedicated to its community by being authentic to the Karate Kid franchise that many of its community are fans of. For instance, the MIYAGI token burning process is symbolically in line with the US movie release dates of Karate Kid movies—this level of attention is appreciated by the community and proves their dedication to MIYAGI coin.
Meme Coins are Best for DeFi
The rapidly evolving landscape of decentralized finance (DeFi) has been driven by regulatory pressure and the need to address environmental concerns and scams in cryptocurrency. While Bitcoin (BTC) paved the way as the first decentralized cryptocurrency, its proof-of-work (PoW) mechanism has raised concerns about its environmental impact.
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Shiba Inu (SHIB), inspired by Dogecoin (DOGE), sought to address some of BTC's shortcomings by adopting the energy-efficient proof-of-stake (PoS) mechanism. However, a new contender in the meme coin space, DogeMiyagi (MIYAGI), is poised to take DeFi to new heights. MIYAGI distinguishes itself by combining the essence of the honourable Mr Miyagi character from the Karate Kid franchise with the popular Doge meme, creating a meme coin rooted in fun and ethical values.
DogeMiyagi:
Website: https://DogeMiyagi.com
Twitter: https://twitter.com/_DogeMiyagi_
Telegram: https://t.me/DogeMiyagi
