What Is Dogecoin?
Dogecoin was created in 2013 based on the popular “doge” meme at the time which involved a Shiba Inu dog. The logo of dogecoin is a Shiba Inu. It was initially started as a joke but has since found a community. The open-source digital currency was created by Billy Markus from Portland, Oregon and Jackson Palmer from Sydney, Australia, and was forked from Litecoin in December 2013. Dogecoin’s creators envisaged it as a fun, light-hearted cryptocurrency that would have greater appeal beyond the core Bitcoin audience, since it was based on a dog meme. Tesla CEO Elon Musk posted several tweets on social media that Dogecoin is his favorite coin.
What Can Dogecoin Be Used For?
In 2014, a not-for-profit foundation was formed by members of the Dogecoin team to provide support, advocacy, trademark protection and governance for the cryptocurrency project. However, the foundation was dissolved over time.
After several years of being inactive, the foundation was relaunched in 2021 with a “renewed focus on supporting the Dogecoin Ecosystem, community and promoting the future of the Dogecoin Blockchain.” In addition to some of the original core team, the project now has some seasoned industry players as part of its board of advisors.
Dogecoin has been used primarily as a tipping system on Reddit and Twitter to reward the creation or sharing of quality content. You can get tipped Dogecoin by participating in a community that uses the digital currency, or you can get your Dogecoin from a Dogecoin faucet. A Dogecoin faucet is a website that will give you a small amount of Dogecoin for free as an introduction to the currency, so that you can begin interacting in Dogecoin communities.
Why it is so Popular?
- Dogecoin, a digital coin originally founded as a joke, soared over 800% after a Reddit board talked about making it the cryptocurrency equivalent of GameStop.
- Dogecoin was created in 2013 based on the popular “doge” meme at the time which involved a Shiba Inu dog.
- Doge’s resurgence in the last few days has been due to enthusiasm from a Reddit group called SatoshiStreetBets.
- Elon Musk tweeted out a picture of a magazine cover of “Dogue” — a play on popular fashion title “Vogue.” The post showed a picture of a dog, which some Reddit users took as the billionaire supporting the rally.
How To Mine Dogecoin?
Dogecoin differs from Bitcoin’s proof-of-work protocol in several ways, one of which is by using Scrypt technology. The altcoin has also a block time of 1 minute, and the total supply is uncapped, which means that there is no limit to the number of Dogecoin that can be mined. You can mine Dogecoin either solo, or by joining a mining pool. A Doge miner can mine the digital currency on Windows, Mac or Linux, and with a GPU. As of 2014, you can also mine Litecoin in the same process of mining Dogecoin, as the processes were merged.
A single popular doge coin miner website which allow you to mine doge coin in very efficient manner. This website is https://dogeminingpaid . Here you have to register by clicking on link. As you registered, mining start it self. Its initial hash power is 100 Dh/s. One can increase its hash power by adding/depositing doge or other crypto directed in the plans. Adding funds is not recommend from jobedu. Since mining power is fixed, even if you add funds, only hash power increased for fixed time. But to feel services working fantastic you can add 100 doge after you own research to increase hash rate, it also recommended in website news.
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