Dogecoin
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- r/dogecoin
- Bitcoin forming 'massive' bullish wedge pattern as trader eyes $85KCointelegraph.com News – 6 hours agoBitcoin’s bullish pattern on the chart is signaling to crypto traders a potential 25% price increase from its current level. Bitcoin’s price is forming a…
- RFK Jr. promises BTC strategic reserve, dollar backed by hard assetsCointelegraph.com News – 9 hours agoThe presidential hopeful gave Bitcoin eloquent praise as a future support for the US economy and way to fix broken American money and society. Independent…
- SEC approves Grayscale Bitcoin Mini Trust for Trading on NYSE ArcaCointelegraph.com News – 10 hours agoGrayscale must await final regulatory signoff on its registration filing before listing the fund The United States Securities and Exchange Commission (SEC) approved Grayscale’s newest…
- ‘We have to get rid of the folks who are in the way’ — Senators speak at Bitcoin 2024Cointelegraph.com News – 10 hours agoThe two Republican senators claimed that if their party wins control of the Senate, they will stop the SEC’s “regulation by enforcement.” Republican United States…
- No BTC strategic reserve announcement from Sen. Lummis — Bitcoin 2024Cointelegraph.com News – 11 hours agoUS Senator Lummis recently authored a report highlighting the benefit of the Bitcoin mining industry and denouncing Biden’s proposed 30% tax. United States Senator Cynthia…
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.