Dogecoin As The Open Source Peer-To-Peer Digital Currency
Dogecoin is created originally as a joke, referencing a meme about a funny-looking Shiba Inu dog that earned wide popularity on the internet. This altcoin is an open source peer-to-peer digital currency, favored by Shiba Inus worldwide.
The cryptocurrency’s popularity and importance have skyrocketed since its creation, and there is a large online community that grows dramatically over the years with several loyal fans of the coin. Dogecoin along with their community has made incredible things, using the cryptocurrency to raising funds such as making the Jamaican bobsled team to possibly make it to the Sochi Winter Olympics, funding a project to develop a well in rural Kenya to have access to drinking water.
What is Dogecoin?
Dogecoin is known as a peer-to-peer digital currency similar to Bitcoin and Litecoin and founded in 2013 by Jackson Palmer and “Shibetoshi Nakamoto.” The site and project are bound with honors to its mascot, a Japanese Shiba Inu dog. For those unknown with the meme, “doge” is obtained from the word, and the memes often turn around simple-minded expressions of emotion Comic Sans font such as “much wow,” “very crypto,” and “such moon.”
The token is intended to have over 100 billion coins, a stiff difference between that of its rival Bitcoin, which will only have 21 million total tokens. Dogecoin functions just like any other cryptocurrency; it can be mined or acquired on most exchanges.
Where to buy and store Dogecoin?
Predicting the price of anything on the market that advises whether or not to buy an asset is very difficult. The decreases and flows the of the market could sway Dogecoin in any direction, and users should be ready to lose 100% of investment in any cryptocurrency.
Dogecoin had some substantial growth in 2017, and its market cap broke $2 billion in January 2018. The meme-based token began attracting media recognition like never before.
One big reason Dogecoin was capable of breaking into popularity and remaining popular is because of its extensive availability in exchanges. Some popular exchange for Dogecoin is Bittrex and Poloniex, as well as minor exchanges Gate.IO, HitBTC, Cryptopia, and CoinExchange.
To start with Dogecoin, new users can download the MultiDoge wallet from their official website and set it up in less than 5 minutes. Also, users can store their Dogecoin either on their exchange wallets or other wallets that support the Doge.
The most valuable lesson from the Dogecoin project is the importance of creating a community. The token has been long excluded as a joke by the cryptocurrency elite, but yet Dogecoin is far from being out-of-date and thanks to its strong community of people that simply desire to see the coin succeed.
Dogecoin, joke or not, has been capable of accomplishing something that some tokens can. It has been about for nearly five years, which earns some respect.
A study of Dogecoin also touches some color to the current cryptocurrency ecosystem. This straightforward token doesn’t play to be anything but what it is: a peer-to-peer digital currency. Among the thousands of whitepaper pages, complicated theories, and scholastic information of the cryptocurrency market, Dogecoin is a gem which the community loves it.