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What is Dogecoin (DOGE)?
Dogecoin —— An Cryptocurrency Favored By All Shiba Inus Worldwide
Website Explorer Technical Documentation
- Dogecoin (DOGE) is an open-source peer-to-peer cryptocurrency reported to be "favored by all Shiba inus worldwide". As a fork of the source-code of Litecoin (LTC), its first block was mined in December 2013.
- Dogecoin is the second largest virtual currency in the world after Bitcoin in the number of users. Recently, the price of DOGE has risen sharply, and it has squeezed into the top 10 cryptocurrency rankings.
- To prevent competition with Litecoin's mining pools (also using the Scrypt hashing function), Dogecoin (DOGE) transitioned to Auxiliary Proof of Work (AuxPoW) and has been merged-mined with Litecoin since August 2014.
- Dogecoin mined 100 billion in the first year, and 5 billion every year thereafter. There is no upper limit.
Dogecoin Key Metrics
| Recent Price | $0.3284 |
|---|---|
Market Cap | $41,890,481,006.80 |
Circulating Supply | 129.279.689.645 DOGE |
Total Supply | 129.279.689.645 DOGE |
Max Supply | No Upper Limit |
About Dogecoin
Dogecoin, born on December 8, 2013, is based on the Scrypt algorithm and is the second largest virtual currency in the world after Bitcoin in the number of users. Recently, the price of DOGE has risen sharply, and it has squeezed into the top 10 cryptocurrency rankings.
Dogecoin (DOGE) is based on the popular "doge" Internet meme and features a Shiba Inu on its logo. 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 is based on the Scrypt algorithm, and the transaction process is more convenient than Bitcoin. It takes only 1 minute for a confirmation time for Dogecoin and 10 minutes for BTC. Moreover, DOGE has a large quantity, low price, and fast transfer speed, and is suitable for network rewards, etc. So, it is more suitable for the general public.
Dogecoin mined 100 billion in the first year, and 5 billion every year thereafter. There is no upper limit. That is, one year later, the inflation rate will remain at 5% per year and continue to decrease, and 20 years later, the annual inflation rate will only be 2.5%. This is more in line with the development of currency. DOGE has mined more than 100 billion for now.
To prevent competition with Litecoin's mining pools (also using the Scrypt hashing function), Dogecoin (DOGE) transitioned to Auxiliary Proof of Work (AuxPoW) and has been merged-mined with Litecoin since August 2014.
Dogecoin Use Cases
Dogetipbota
Dogetipbot is popular reward tool that allows users to make small rewards for DOGE. The rewarding tool supports Reddit, Twitter and Twitch. DOGE 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 DOGE by participating in a community that uses the digital currency, or you can get your DOGE from a Dogecoin faucet. A Dogecoin faucet is a website that will give you a small amount of DOGE for free as an introduction to the currency, so that you can begin interacting in Dogecoin communities.
Payment Tool
As one of North America’s leading technology-focused e-retailers, Newegg is now accepting DOGE as the official payment method on Newegg.com; in addition, Bitpay has also begun to support DOGE as a payment method.
