Dogecoin: What is DOGE?

  • Dogecoin: What is DOGE
    Dogecoin is a cryptocurrency that enables digital payments through the Dogecoin Blockchain network. It was developed in 2013 by Billy Markus and Jackson Palmer, and it entered the market with a reputation as a virtual prank currency.
    This cryptocurrency does not have a CEO or an official company, therefore, it is its loyal followers who drive the coin.
    The cryptocurrency doge is primarily used to fund and tip content creators, but the number of merchants accepting it as a means of payment is on the rise. Its followers are increasing year after year and are pushing dogecoin prices and its market capitalization to ever higher highs.
    Doge was born as a meme cryptocurrency, but has become a top coin by market cap with a 5,000% yield in 2021, and is supported by millions of users including Elon Musk and Snoop Dogg.

    Dogecoin: How it works

    Dogecoin is based on the code of Bitcoin, the first cryptocurrency. Doge was born as a fork of Luckycoin, which, in turn, was a fork of Litecoin.
    Dogecoin has a Litecoin Scrypt-based consensus mechanism. Therefore, doge buys you many of the functionalities with Bitcoin. Like Bitcoin, the participants of the doge Blockchain network, protect the network and the creation of blocks by verifying transactions. The difference of doge is that it has a lighter architecture, which allows to process transactions faster than Bitcoin. For each block that miners generate, they get 10,000 DOGE.
    The creators of this Cryptocurrency Development Company designed the internet’s favorite currency with a maximum limit of 100 billion Doge. However, the team removed the cap a couple of months after launch. This is one of the reasons that its price does not increase as much as other cryptocurrencies.