- Historical Data
- Price analysis 9/22: BTC, ETH, BNB, XRP, ADA, DOGE, SOL, TON, DOT, MATICCointelegraph.com News – 2 hours agoBitcoin and the major altcoins are down from their weekly highs, but the bulls are trying to form a higher bottom, indicating buying on dips.…
- Bybit will suspend services in UK following financial regulator’s ‘final warning’Cointelegraph.com News – 3 hours agoHeadquartered in Dubai, crypto exchange Bybit said it will suspend services to residents of the United Kingdom starting in October due to “regulatory changes.” Dubai-headquartered…
- Bitcoin fails to recoup post-Fed losses as $20K BTC price returns to radarCointelegraph.com News – 3 hours agoBitcoin is a bargain for some at current levels, but downside BTC price predictions remain firmly on the agenda. Bitcoin (BTC) circled lower after the…
- Crypto investment firm CoinShares opens hedge fund division for US investorsCointelegraph.com News – 5 hours agoCoinShares’ subsidiary and broker-dealer registered with FINRA will be conducting marketing activities for the new hedge fund division in the United States. Major European cryptocurrency…
- Stablecoin exodus: Why are investors fleeing crypto’s safe haven?Cointelegraph.com News – 5 hours agoStablecoins have seen a 17-month decline as investors move to traditional assets. What needs to happen for the exodus to stop? In a year filled…
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.