Chihuahua is a proof-of-stake (POS) dog meme-coin, launched on the Cosmos ecosystem in December 2021. Chihuahua is the world’s first interoperable meme coin with a POS blockchain. Even though it is still a relatively new enterprise, Chihuahua has already established a few essential concepts that provide the ideal foundation for future growth and recognition: integration of HUAHUA into two NFT marketplaces (Omniflix.market and Stashh.io), and building its Metaverse, which includes social functionalities and minigames restricted to the owners of the HUAHUA coin.
Key Features of the Chihuahua Blockchain
Chihuahua is a blockchain created with the Cosmos SDK and the Tendermint consensus algorithm. The Chihuahua chain’s native staking and governance asset is HUAHUA.
Chihuahua has an on-chain governance structure built-in. Holders of HUAHUA, the chain’s native staking token, can vote on proposals on a 1 to 1 token vote basis.
Additionally, if users continue to stake their tokens every day, they can earn rewards of up to 400% per year. Depositing and bonding your assets in HUAHUA pools on Osmosis allows you to earn up to 500% APR in HUAHUA and OSMO.
HUAHUA is more environmentally friendly than Dogecoin and Ethereum, both of which use Proof-of-Work (POW) algorithms. Using a POS method of consensus serves Chihuahua well when it comes to being environmentally friendly. The Chihuahua blockchain is estimated to utilize less energy per year than Dogecoin and Ethereum do in a single day.
Another important feature incorporated into the Chihuahua is the implementation of smart contracts. According to Verified Market Research, the value size of smart contracts will reach an estimated $770 million by 2028. Keeping that in mind, Chihuahua’s inclusion of smart contracts indicates its objective to simplify trade between both anonymous and identified parties. A smart contract feature also allows the protocol to attain a level of significant authenticity and credibility. Devs interested in building dApps: Chihuahua has a Community fund with over $20M that can be accessed via governance proposal – check it out!
Comparisons with DOGE and SHIB
Chihuahua is another dog coin, hence it is a direct competitor with DOGE and SHIB, both of which are very popular projects. HUAHUA has some strengths that might surprise their competition.
The projected yearly energy usage (measured in TWh) of running the Ethereum 2.0 network for a year is 0.03 TWh, whereas Dogecoin uses roughly 6.5 TWh. A Cosmos-based blockchain like Chihuahua, on the other hand, is predicted to consume just 0.00046647 TWh per year.
Unlike DOGE and SHIB, HUAHUA has Governance capabilities, an APR of ~400%, Community pool, and airdrop features.
In order to keep up with current market trends, Chihuahua recently announced its partnership with Passage3D. Both organizations are teaming up to enter the Metaverse. Chihuahua plans to allow access to its Metaverse via its Metahuahua NFT collection, with more information to be released soon.
Although Chihuahua is a relatively new project in the space, its community engagement is extremely impressive: more than 21,000 followers on Twitter; it presently boasts 2375 members of Discord, with more than 500 members active throughout the day! It is growing its foothold in other social media platforms such as Reddit and Telegram and the project utilizes Medium to convey important updates to its members at regular periods of time.