Dodgecoin is a cryptocurrency that allows you to transfer, trade and buy goods online. Spreadly use to ‘tip’ followers for a good review, paid ‘Like’ if you will.
Was created by Billy Markus on December 6, 2013. It has the logo of Shibe Inu which is rather the internet Doge meme; also known as jock coin; It came from lucky coin which is built from Litecoin code base.
At first, it started like other most coins without any large number of commercial application, but it gradually drew attention for the huge dedication of its community. Again in Dogecoin one can mine alongside one mining which is known as merged mining. It’s also one of the oldest cryptocurrency out there.
An interesting thing about Dogecoin is that it has the largest circulating supply. At the moment it has 112 billion Dogecoin and, 10000 new coins are mined in every single minute. It means it will be always cheap as hell and easy to buy for all people. Then in terms of tipping online, it does a great job. Nowadays, every website comes out donation button and if you want to donate, Dogecoin is the easiest to use.
One of the main attraction of this coin is that its rising market cap. If we look at the graph of last five-year graph of Dogecoin value we will see that it always rise after sometimes and in the future, it will also rise for sure. For this reason, it is the best place for the beginners for investing. If you want to invest quickly and get a huge price rise in a blink of an eye, this might be the best place for you out there.
The support given by the community is really huge. They are really super friendly and always there to help the users. When anyone joins start in this community, they become a part of this amazing group of people. It’s like a family. No other crypto can ensure such support from its community. The community also does some charity work. As for example, they did some charity work in Kenya as Doge4Water. On December 25, 2013, the first major theft of Dogecoin occurred when millions of coins were stolen from the wallets of Dogecoin owners. But surprisingly, the community step forward and refunded the users who were being hacked. Again, they also managed to send the Jamaican bobsled team as well as the Indian luger Shiva Keshavan to Winter Olympics.
How It Differs from Bitcoin
Users should also know that Dogecoin has 10 times faster transaction confirm rates than Bitcoins and 50 times lower transaction fees. Besides, it also has 10 times higher theoretical transaction per second limit. As for example with $100 you can get 1 million Dogecoins vs 0.5 Bitcoin.
The major drawback of Dogecoin is the problem with mining. Because of the combination of mining, it will be more complicated and those who want to remain competitive in mining has to mix mining all the time.
But it is clear that the prospect of Dogecoin is very high. Those who are new in the crypto market can easily start with this unique currency and might regret not doing this long ago.