What is Dogecoin

Dogecoin is an open source peer-to-peer cryptocurrency, favored by Shiba Inus worldwide. This Ecoin is gaining popularity quickly especially on popular forums like Reddit. It was born and made for the Internet and is based on a popular ‘doge’ internet phenomenon and memes often shared on 4chan and Reddit.  It is sometimes referred to as it the first currency to be based upon an Internet meme.

Dogecoin has a strong community.  Its light-hearted perspective and novelty factor are giving it strength as an Altcoin.  Dogecoin recently ascended over 300% in value.


The Doge meme phenom seeded Dogecoin

Compared to other Altcoins, the resources for Dogecoin look and feel developed and refined.  The official blockchain referred to as the DogeChain is easy to read and elegantly presented.  Check out the big ol’ list of dogecoin resources for more examples.

Like Litecoin, Dogecoin uses scrypt in its proof-of-work algorithm and therefore can only currently be mined with GPU miners.  There will be a lot of Dogecoin produced (100 billion) from mining compared to 84 million minable Litecoins and 21 million minable Bitcoins.

Leave a Reply

Post Navigation