Dogecoin
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- r/dogecoin
- SOL ETF news gain evaporates, while chart warns of another 20% dropCointelegraph.com News – 2 hours agoSOL retraced its ETF rally, and with over 14% of supply concentrated at $144, holding this key support is critical to avoid a deeper correction.…
- SEC approves conversion of Grayscale's large-cap crypto fund into ETFCointelegraph.com News – 2 hours agoGrayscale has slowly narrowed the arbitrage opportunities on its crypto trusts by converting them into exchange-traded funds. Asset manager Grayscale received approval from the US…
- Here’s what happened in crypto todayCointelegraph.com News – 2 hours agoNeed to know what happened in crypto today? Here is the latest news on daily trends and events impacting Bitcoin price, blockchain, DeFi, NFTs, Web3…
- US regulator considers simplified path to market for crypto ETFsCointelegraph.com News – 2 hours agoThe United States Securities and Exchange Commission is reportedly considering simplifying the listing process for certain crypto ETFs. The United States Securities and Exchange Commission…
- Bitcoin at risk of deeper drop as BTC slips below key support levelsCointelegraph.com News – 3 hours agoA revisit to the $100,000 level seems likely now that BTC price slipped below two key support levels. Key point:Selling accelerated on Tuesday, raising the…
What is Dogecoin?
Dogecoin is a fun meme coin that was launched on December 6, 2013. The coin is a decentralized peer-to-peer currency that tried mimicking the popular Bitcoin, but in an an effort to surpass Bitcoin’s popularity. Doge features a cartoon Japanese character Shiba Inu, that acts as the coin’s mascot. The intention of this mascot is to show the fun part that this coin was intended to be.
Dogecoin’s developer Billy Markus based this coin’s code on Lucky coin, that is based on another coin called tecoin. Litecoin uses the scrypt technology in its proof-of-work consensus mechanism preventing dedicated Bitcoin miners from mining. It is for this reason that Dogecoin was at least originally effectively mined with ordinary PCs instead of the dedicated miners.
While it was introduced as a fun coin, Dogecoin’s community has since grown by a lot. It is now mainly used to tip social media users who contribute great and interesting content on various platforms. Instead of simply liking their content, the contributors get rewards in form of Dogecoins. It is also frequently used for raising funds for charity events, eg. in the case of the construction of a well in the Tana river delta in Kenya.
Apart from Billy Markus, who came up with the original idea, another key individual in the coin’s development is Jackson Palmer of Adobe Systems. It is Palmer who took over this project and propelled it to its current status.