Dogecoin is a cryptocurrency invented by software engineers Billy Markus and Jackson Palmer, who decided to create a payment system that is free from traditional banking fees. Dogecoin features the face of the Shiba Inu dog from the “Doge” meme as its logo and namesake.
Do you know what Dogecoin is? How can you buy Dogecoin? Today you will get to know a lot more about Dougie Coin.
You must have heard the name of Sayed cryptocurrency, and if you have not heard then you must know that in today’s time, if there is anything more valuable than gold and diamond, it is cryptocurrency.
Or you must have heard the name of Sayed Bitcoin. In the same way there is also Dogiacoein. Today in this article you will come to know many more things about it.
If we talk about cryptocurrency and not talk about bitcoin, then it is not possible at all. Because Bitcoin is the first Cryptocurrency from the world. Which was created by Satoshi Nakamoto in 2009.
It is a digital currency that is used only to buy goods and services online. It is a de-centrallized currency which means that there is no hand of government or any institution on it.
Let us now tell you about Dogecoin, what it is, and how it got started.
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Dogecoin Short Description
| Denominations | |
|---|---|
| Symbol | Ð |
| Ticker symbol | DOGE |
| Development | |
| Original author(s) | Billy Markus, Jackson Palmer |
| Initial release | December 6, 2013; 7 years ago |
| Development status | Active |
| Operating system | Microsoft Windows, Linux, iOS, Android |
| Developer(s) | Billy Markus (“Shibetoshi Nakamoto”) |
| Source model | FOSS |
| License | MIT License [1] |
| Website | https://dogecoin.com/ |
| Ledger | |
| Hash function | Scrypt-based |
| Block reward | 10,000 Dogecoins (as of Feb. 2018) |
| Block time | 1 minute |
| Block explorer | https://dogechain.info/ |
| Circulating supply | 127 billion (113 billion coins have already been mined) |
| Valuation | |
| Exchange rate | Floating |
What is Dogecoin?
Dogecoin is a virtual digital currency (currency). This is completely different from the rest of the currency because we can neither see Dogecoin nor touch it like money. We can only buy and sell Dogecoin online. You can just trade in it.
Dogecoin is a digital currency like any other cryptocurrency in which you can trade. Dogecoin was started as a joke in 2013 by software engineers Billy Markus and Jackson Palmer.
It is believed that more than 128 billion Dogecoin is in circulation worldwide. It is being called just a beginning. If you look at the current data, the interest of people in Dogecoin cryptocurrency has increased significantly more than bitcoin.
Dogecoin is also a funny story behind the creation of cryptocurrency, which relates to a dog’s meme and was inspired by the inspiration to create this coin. When it was built, after a long time it did not benefit much, but at present it is skyrocketing in currency discussions.
Who owns Dogecoin? Owner of Dogecoin
Dogecoin is owned by Billy Markus and Jackson Palmer. He started Dogecoin in 2013. And both are software engineers. He started Dogekoin in a joke – a joke that has become the currency of billions today.
It was started by Billy Marcus and Adobe engineer Jackson Palmer for Peer-to-Peer Transaction. He chose a Japanese dog breed Shiba Inu instead of choosing a fancy emblem for DodgeCoin. It had already become popular online.
Why is Dogecoin in the news?
If you are talking about why Dogecoin is in the discussion, then let us tell you that the reason for the discussions at present is a tweet by Tesla and Space X co-founder in the list of world’s richest man .
In this tweet, Tesla’s co-founder Elon Musk said that he would launch a rocket towards Space X and in that rocket they would send a copy of this Dogecoin. After this, as if its price has come out and it has jumped from 5 to 6 rupees. And now there is a 180 percent jump in it.
Everyone is advising to invest in this currency because the price of this Dogecoin crypto currency is going to go to the seventh sky very soon.
Elon Musk also considers bitcoin to be a better cryptocurrency. He has invested extensively in it and has approved payment in this cryptocurrency. Elon Musk wrote in a tweet last week – ‘Bitcoin is a good thing.
In the early stages, Dogecoin did not have successes like Bitcoin and Etherium. However, within 72 hours of its launch, this kippocrancy saw a 300 percent jump.
Let us know that Litcoin and Luckycoin cryptocurrency also use script technology based on the password of DodgeCoin. At the same time, bitcoin uses the SHA-256 encryption technique.
What are the benefits of Dogecoin ?
The chances of fraud in Dogecoin are slim.
They are more secure than normal digital payment.
The transaction fees are also very low in this, if we talk about other payment options then…
The account in this is very secure because different types of Cryptography Algorithm are used in it.
What are the disadvantages of Dogecoin?
Once a transaction is completed in Dogecoin, it is impossible to reverse it as there is no such option.
If your Wallet ID is lost then it is lost forever because it is not possible to get it again. In such a situation, whatever money you have in your wallet is lost forever.
What is the future of dogecoin?
Some scholars believe that the future is said to be quite good. It can be estimated that it can see an increase in the current rate from 50 to 80 percent.
If you invest in it today then this can be a great opportunity for you and this cryptocurrency can give you a good earning in future.
How to buy Dogecoin? (How to Buy)
If you also want to buy Dogecoin then you can buy. Like any other cryptocurrency, Dogecoin can be purchased through a cryptocurrency wallet or online platform.
There are also dedicated wallets for DodgeCoin, which can be purchased through smartphones. DodgeCoin can be purchased in India through BuyUcoin, Bitbns, or Zebpay. KYC process has to be completed before purchasing cryptocurrencies on these platforms.
How Do You 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.
Conclusion –
In this way you will now know what is Dogecoin, and you will get to know a lot more about Dogecoin. And at the same time you must have got a lot of good information for Dogecoin.
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