$ 0.003474 right now
Trade name: DOGE
Year of Foundation: 2013
Dogecoin is a cryptocurrency with features of Shiba Inu dog from the internet “doge” meme. It was introduced in 2013as a joke currency, but it quickly developed to create its own online community. By Jan 2014, it had reached a market cap of $60 million.
It seems to have the fastest initial coin production compared to other coins. About 100B coins had been circulating by mid-2015. Every year, it has witnessed a steady growth at 5.256B every year.
How does Dogecoin work?
A node is entered in some kind of a lottery when it attempts to confirm a transaction. The lottery is merely guessing a code that is delivered to the newest block. The price for guessing the correct code is currently at 10,000 DOGE.
A new set of the transaction is confirmed every minute because the lottery happens once every minute. The transactions for the coin are relatively faster than those of Bitcoin and Litecoin. This is why it has gained a lot of popularity.
History of Dogecoin
The idea behind the creation of Dogecoin was initiated towards the end of 2013 when the price of Bitcoin was 1083.14 USD. Two developers, Billy Markus and Jackson Palmer, came up with the idea after realizing there was too much tension in the cryptosphere. They wanted it to remain fun.
Dogecoin was launched at the same period. The mascot for the coins comes from a popular meme of Shiba Inu dog. The way it is spelled is borrowed from a popular internet show.
How to use Dogecoin
Because of its popularity, there are many reliable wallets for the coin. It is recommended that you use the Dogecoin wallet service from the official website. Just open the site and follow the instructions given. Start from the homepage-statistics-API-wallet tabs.
Dogecoin price analysis
Dogecoin price is not very much today. It is beneath one cent and has remained so for quite a while. It has a market capitalization of 330,900,232, which means it is not worthless despite the low prices. This is a low compared to over 1 Billion in Jan 2018. The current price is at $0.171424.