Dogecoin Price & Charts
What Is Dogecoin ?
This is one of the earlier made alternate cryptocurrencies that was released in 2013. It is essentially based on a litecoin fork called the luckycoin protocol. It is one of the less serious cryptocurrencies and its makers made it more of a lighthearted joke on the cryptocurrency industry more than anything, featuring a popular Doge meme as its official mascot.
DOGECOIN was created by its makers as a slight towards Bitcoin at a time when it was almost exclusively known for its notorious use on the nefarious Silk Road dark web market. DOGECOIN is continually produced and has unlimited supply, which one of the reason it is still a sub-penny coin. But despite its lack of focus it has persisted as users have little to lose due to its minute value.
DOGECOIN’s main creators are Billy Markus and Jackson Palmer. Palmer has since announced he was bowing out of the DOGECOIN project, but that has had little effect on DOGECOIN as it keeps producing.
DOGECOIN is not known for any practical use. It is virtually a joke coin that is so cheap that is not used for anything more than play and being polite to other Doge lovers. Being almost exact as litecoin without its value, you can use DGECOIN to play and around and get familiar with the way litecoin works, to learn your away around some of its well-known wallet problems
You can use it to learn how to move your token around, and you have nothing to fear even if you make the mistake and lock up your wallet. You will only lose very little money in case of any problem. The DOGECOIN community is the renowned fun place to be in the cryptocurrency world and you may even by a physical DOGECOIN to keep with your own digital version
DOGECOIN mining is based on a proof of work Scrypt Algorithm and it can be continuously mined unlimitedly. DOGECOIN mining at one time was more popular than Bitcoin, but all has passed as most enthusiasts have outgrown the fun leaving a much leaner community.
DOGECOIN mining can only be undertaken for fun rather than economic reasons, as you may end up spending in electricity and mining equipment more than you actually get due to its meager value. A lot of people don’t opt for mining for this reason, with most choosing to exchange other cryptocurrencies for DOGECOIN tokens. While others simply ask politely on the Cryptocurrency’s Reddit community, as there are users who will be more than happy to send some to help test a new user’s wallet.
DOGECOIN is a meme cryptocoins and though its price from 2016 to date has multiplied about 10 times, this is still not a reason for a serious investor to down their precious money into it. As a coin that has no serious goals, or actual problem it aims to solve, DOGECOIN should preferably be left for the fun joke it is meant to be.