What Is Doge-Coin?

Dogecoin

What Is Dogecoin?



Dogecoin is a decentralized, peer-to-peer digital currency that allows you to easily send money online. It as an "Internet currency".





Dogecoin distinguishes itself from other digital currencies with a wonderful and powerful community of like-minded people.






Dogecoin Code: Dog, Symbol: Ð) is a cryptocurrency that resembles the Shiba Inu dog from the "Doge" Internet meme as its logo.




Dogecoin is introduced as a "joke currency" at 6 December 2013, It is fast developed it's on the internet community and reached a capitalization of US $ 60 million at January 2014.




Compared to other cryptocurrencies, Dogecoin has the fastest initial coin production schedule: 100 billion coins in circulation by mid-2015, followed by an additional 5.256 billion coins each year.



As of 30 June 2015, 100 billion Dogecoin had been mined.




Despite some mainstream commercial applications, the currency has gained traction as an Internet tipping system, in which social media users give Dogecoin tips to other users to deliver interesting it referred to as an altcoin.




Billy Marcus, a Portland-based programmer in Oregon, created Dogecoin, who wanted to create a fun cryptocurrency that could reach a wider population than Bitcoin.






In addition, he wants to distance it from the controversial history of other coins.






At the same time, Jackson Palmer, a member of Adobe Systems Marketing in Sydney encouraged the Front Range Community College student on Twitter to make the idea come true.






After many references on Twitter, Palmer bought the Dogecoin.com domain and added a splash screen, including a coin logo and scattered comic sans text.






Marcus saw the site link to the IRC chatroom and began his efforts to create the currency after reaching Palmer.






Marcus-based Dogecoin, an existing cryptocurrency, is a random gift for a mining block, but this behavior was later converted to a static block reward in March 2014.






The use of scripts means that miners cannot use SHA-256 bitcoin mining equipment and creating specialized FPGA and ASIC devices for mining is complicated.




It is launched on December 6, 2013. The Dogecoin network generates an infinite number of Dogecoin . On December 19, 2013, Dogecoin went up by nearly 300 percent in 72 hours, from the US $ 0.00026 to 000 0.00095, with billions of DogcDogecoin coins per day.












The rise comes as Bitcoin and many other cryptocurrencies are reeling from China's decision to ban Chinese banks from investing in the bitcoin economy.






Three days later, Dogecoin experienced the first major crash, falling 80% due to the incident, and the large mining pools made it possible to use the minimal computing power






Dogecoin's first major theft occurred on December 25, 2013, when millions of coins were stolen during a hack on the online cryptocurrency wallet platform Dogevallet.






The hacking incident sparked tweets about Dogecoin, which at the time was the most frequently mentioned altcoin on Twitter, though it was a negative event.