What is Dogecoin: The World’s Most Valuable Joke or Speculative Altcoin?
Dogecoin, just like most other cryptocurrencies, has experienced a rollercoaster of a ride in its first two years of existence.
Dogecoin was created in 2013 as a joke, but it quickly gained traction as one of the more successful alternatives to Bitcoin. Dogecoin has also become an important part of the cryptocurrency community and has been used to raise funds for several good causes.
However, the future for Dogecoin looks bleak at the moment. The value of Dogecoin is closely tied to Bitcoin’s value, which is expected to keep rising as it becomes more widely accepted. If that happens, it could squeeze out altcoins like Dogecoin and reduce their potential market share.
What is Dogecoin?
It’s a digital currency. More specifically, it’s a “peer-to-peer electronic payment system,” according to the official Dogecoin website. It means that you can use Dogecoin to buy things from other Dogecoin users or convert it into other currencies such as Bitcoin or U.S. dollars.
Dogecoin is sometimes called “the internet currency,” because it started out as a joke on Reddit and represents the fun side of cryptocurrency.
Dogecoin has a fast initial coin production schedule: There will be approximately five billion coins per year, with each block producing 10,000 coins. The block time is set at one minute.
What is the purpose of Dogecoin?
Dogecoin has no particular purpose; it was created as a parody of Bitcoin and Litecoin (other cryptocurrencies) and to spread generosity across the internet by rewarding people for their work.
How did Dogecoin start?
In December 2013, Jackson Palmer announced his intention to create the Dogecoin cryptocurrency in a thread on an online forum called Bitcointalk. In less than two weeks, he had released his open source code on GitHub and launched the cryptocurrency