U.Today - A crypto trivia published on Twitter by to test the knowledge of the crypto community about meme coins and crypto forks has spurred surprising responses.
Binance U.S. set out by giving a brief introduction about crypto forks: "A crypto fork is a split in a blockchain, resulting in a new cryptocurrency with similar characteristics to the original one."
It also briefly defines meme coins: "Memecoins are cryptocurrencies that are based on humorous cultural references."
It then asked, "Which meme coin below is a fork of Litecoin?" The options it gave were Shiba Inu, Dogecoin, Floki and Others (asking the community to comment on any other meme coin which was not listed).
Surprisingly, a higher percentage of respondents (36.9%) went for Shiba Inu. A total of 17.2% and 28% went for the options Dogecoin and Floki, respectively. Then, 17.9% went for the "Others" option.
Shiba Inu (SHIB) is an ERC-20 token based on the Ethereum blockchain. Dogecoin, rather, is a fork of Litecoin (LTC).
The most surprising fact is that a higher percentage of respondents went for Shiba Inu, while the lowest percentage went for Dogecoin, which is a fork of Litecoin.
FLOKI, a cross-chain cryptocurrency that can be used on both the Ethereum blockchain and the Binance Smart Chain, was also chosen by a sizable portion of respondents. The results of the crypto trivia seem to suggest an important need for crypto education.
Dogecoin and Shiba Inu are both digital currencies with canine themes; however, they differ significantly. Shiba Inu is built on the Ethereum blockchain, and Shibarium, a Layer 2 blockchain solution, is now under development.
The guiding principles outlined in the "woof paper," the canine equivalent of a white paper that details cryptocurrency project ideas and road maps, serve as the foundation for the Shiba Inu ecosystem, which has tokens SHIB, BONE and LEASH.
Dogecoin (DOGE), a fork of Litecoin (LTC), uses the same scrypt algorithm and may also be mined using Litecoin-specific hardware. Dogecoin also has its blockchain.