What Is Dogecoin (DOGE)?
Dogecoin (DOGE) is a memecoin that was started as a joke, but widespread adoption (along with Bitcoin’s meteoric price spike in 2017) made it a legitimate currency and fintech project. DOGE is used to tip users across the internet for creating memorable or interesting content. Like the doge meme it’s based on, Dogecoin’s creator isn’t as associated with it as one would think.
Who Is Dogecoin?
Dogecoin was created in 2013 by Billy Markus and Jackson Palmer to memorialize two things at their peak public awareness – Bitcoin and the Doge meme. It was instantly popular, and trading at one point eclipsed Bitcoin. Both men eventually walked away from the project, and the community took over, creating and executing a variety of charitable efforts through cryptocurrency.
Use Cases of Dogecoin
Dogecoin has been popularly used for internet tipping and charitable giving. Tipping is often accomplished through automated tipbots like Doger and Sodogetip. Charitable donations are organized by members of the community, often in conjunction with established or upstart charitable organizations.
How to Mine DOGE
DOGE has an unlimited supply and is mined using a Scrypt-based Proof-of-Work (PoW) algorithm. It is unlikely you’ll ever mine DOGE on your home computer, but it can be mined using ASIC mining rigs or by joining a mining pool.
Learn More About Dogecoin
If you want to learn more about Doge, I wrote a full coin intro guide at Crypto Briefing. Or you can learn more about other cryptocurrencies across Thought for Your Penny.