What is Dogecoin?
Dogecoin (DOGE) is based on the popular Internet meme "doge" and features the Shiba Inu symbol on its logo. The open source digital currency was created by Billy Markus from Portland, Oregon and Jackson Palmer from Sydney, Australia, and forked from Litecoin in December 2013. The creators of Dogecoin predicted it to be a kind of coin. The fun, light-hearted cryptocurrency will have even greater appeal to the core Bitcoin audience, as it is based on the dog meme. Tesla CEO Elon Musk has posted several tweets on social media that Dogecoin is his favorite coin.
How do you mine Dogecoin?
Dogecoin differs from Bitcoin's proof-of-work protocol in a number of ways, one of which is by using Scrypt technology. This altcoin also has a block time of 1 minute and an unlimited total supply, which means there is no limit to the number of Dogecoins that can be mined. You can mine Dogecoin alone or by joining a mining pool. Doge miners can mine digital currency on Windows, Mac or Linux and with GPU. As of 2014, you can also mine Litecoin in the same Dogecoin mining process, as the processes have been merged.
What can Dogecoin be used for?
Dogecoin has been used primarily as a payment system on Reddit and Twitter to reward the creation or sharing of quality content. You can get Dogecoin by joining the community that uses digital currency or you can get your Dogecoin from Dogecoin faucet. Dogecoin Faucet is a website that will give you a small amount of Dogecoin for free as a referral to the currency, so that you can start interacting in the Dogecoin communities.
How can you buy Dogecoin?
You can sell or buy Dogecoin at any exchange that offers digital currency like Binance, MXC, FTX, Huobi, REMITANO store it on exchange or in Dogecoin wallet and tip Dogecoin in any community Accept Dogecoin. For the latest list of exchanges and trading pairs for this cryptocurrency, click on our market pairs tab.
Dogecoin Foundation and Advisory Board In 2014, a non-profit organization 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 inactivity, the platform was relaunched in 2021 with “a new focus on supporting the Dogecoin Ecosystem, the community, and driving the future of the Dogecoin Blockchain.” In addition to some of the original core teams, the project now has a number of seasoned industry players as part of its advisory board. According to the foundation's website, members of the board of directors will meet monthly to discuss Dogecoin-related issues. In regards to its advisors, the team includes Dogecoin founder Billy Markus, project core developer Max Keller, Ethereum founder Vitalik Buterin and Elon Musk represented by the head of the family office. by Musk, Jared Birchall. The members of the Advisory Board will function with a variety of functions. While Keller will act as the project's technical advisor, Markus will be in charge of the community and meme. Meanwhile, Buterin will act as blockchain and crypto advisor for the platform, and Birchall will represent Elon Musk as legal and financial advisor. As a first mandate, the Advisory Board will work to secure a three-year funding that will allow it to employ a small, dedicated staff working full-time on Dogecoin. Until now, the work on the ecosystem is still done by volunteers.
According to CoinMarketCap
