TLDR:
- Dogecoin is a cryptocurrency that started as a meme in 2013
- Created by founders Billy Markus and Jackson Palmer as a joke, Dogecoin gain popularity because of its simplicity and support from celebrities like Elon Musk.
- Dogecoin can be used as a means of payment, where Tesla allowed holders to purchase Tesla merchandise.
- The Dogecoin protocol distributes new coins to miners at a consistent rate. This ensures that the coins are always available without any central control.
DOGE
| Token name | DOGE |
| Ticker | DOGE |
| Website | https://dogecoin.com/ |
| Whitepaper | Dogecoin Whitepaper |
| Network | Binance Smart Chain (BSC) |
| Summary of Token | Dogecoin is a cryptocurrency that was created as a joke in 2013. Named after the popular “Doge” meme, it was originally created as a parody of Bitcoin and other altcoins. Despite its light-hearted origins, Dogecoin has become a legitimate cryptocurrency and is used in many places around the world. |
| Overview of Token | Dogecoin has a few key features that set it apart from other cryptocurrencies. One of the most notable is its low transaction fees. Dogecoin also has a very fast transaction speed, which makes it ideal for day-to-day payments.
Dogecoin is based on the same blockchain technology as Bitcoin, however its block time is only one minute long compared to Bitcoin’s ten minutes. This makes Dogecoin transactions faster and more cost-effective, as miners are incentivized to confirm them quickly. |
| Advisors & Partners | Jens Wiechers ( OG Dogecoin Foundation Veteran, Foundation Legal & Governance ), Michi Lumin ( Dogecoin Core Blockchain Developer, Foundation Principal Engineer ), Timothy Stebbing ( Director / Product Lead ) ,Jared Birchall ( Legal & Financial Advisor ), Shibetoshi Nakamoto (Billy) ( OG Dogecoin Founder, Community & Memes Advisor ), Max Keller ( Dogecoin Core Developer, Dogecoin Technical Advisor ), Vitalik Buterin ( Ethereum Founder, Blockchain & Crypto Advisor ) and Ross Nicoll ( Dogecoin Technical Advisor ) |
| Circulating Supply | 137,977,546,383 |
| Contract Address | 0xba2ae424d960c26247dd6c32edc70b295c744c43 |
| Max Supply | ∞ |
| Number of Holders | 776,694* |
| Blockchain | BSC |
| Year in-corporated | 2013 |
| Governance Token | DOGE |
| Fun Facts | Dogecoin is well-known for its internet-based culture, with many users creating memes and jokes about the token. In 2014, Dogecoin was used to finance the Jamaican bobsled team for the Winter Olympics.
Billionaire Elon Musk frequently makes posts about the Dogecoin token on his Twitter, and after his recent Twitter purchase, the token saw a rise of approximately 16% in 24 hours. For a brief period of time, Tesla, owned by Elon Musk allowed the purchase of merchandise with Dogecoin! The popularity and internet culture surrounding Dogecoin sets it apart as a unique and entertaining cryptocurrency. |
| Where to Buy & Sell | Trade DOGE on CoinsPro or Coins.ph, a BSP-regulated licensed crypto wallet in The Philippines |
| Token Use Cases | Dogecoin tokens serve as a means of transaction, similar to other cryptocurrencies. They can be used to purchase goods and services, as well as for money transfers between users, payments for goods and services, making donations, and buying stocks. Moreover, Dogecoin tokens can be used to acquire other cryptocurrencies such as Bitcoin, Ethereum, and Litecoin. |
| *as of writing |
Dogecoin is a cryptocurrency token that was created as a meme in 2013, but quickly gained popularity and became a form of online payment. The purpose of this article is to provide an overview of the Dogecoin token economy, including its history, network support, recent updates, and trivia.
Dogecoin was created by programmers Billy Markus and Jackson Palmer as a joke but quickly gained popularity on the internet due to its simplicity and support from celebrities such as entrepreneur Elon Musk. The token is widely used for online payments and donations, as well as for investment purposes.
Economy and updates
Dogecoin is based on blockchain technology and has a strong focus on community and social transactions. The token is known for its high volatility, meaning its price can change rapidly. Additionally, Dogecoin has an unlimited supply, meaning the amount of circulating tokens can increase indefinitely. Dogecoin is compatible with most cryptocurrency exchanges, including Coins.ph, Binance, Coinbase, and Kraken. Additionally, it is also supported by a wide range of cryptocurrency wallets, including Ledger and Trezor.
Recently, the Dogecoin development team released a series of updates to improve the scalability and security of the network. Additionally, the team is working in partnership with other cryptocurrency companies to increase token adoption.
The developers also improved the network's memory management and added a configuration for the user's wallet backup directory. Furthermore, the fee stabilization mechanism for Dogecoin was included in the launch. Elon Musk, the "Dogefather", tweeted about the update, and Dogecoin creator Billy Markus shared the story on Twitter.
Conclusion
Dogecoin has a unique distribution method that sets it apart from other cryptocurrencies. Instead of having a central authority controlling the coin's supply, the Dogecoin protocol distributes new coins to miners at a consistent rate. This ensures that the coins are always available without any central control.
Dogecoin is an increasingly popular cryptocurrency that is used in many places around the world. Its low transaction fees, fast transaction time, and decentralized distribution make it an attractive option for many individuals and businesses. As more people become aware of Dogecoin and its potential, it is likely to become even more popular in the future.
How to Buy Dogecoin (DOGE)?
Via Coins Pro, BSP Licensed Spot Exchange:
- Step 1: Log into your Coins Pro account and click [Balance].
- Step 2: Select the currency you want to deposit, click on [Deposit] and enter your desired cash-in amount.
- Step 3: Select DOGE/PHP pair and enter the [Order Quantity] you would like to trade.
- Step 4: Click Buy or Sell to place your Limit and Stop Orders.
- Step 5: Wait for your order to be filled
Disclaimer: The information and publications in this article are not intended to be and do not constitute financial advice, investment advice, trading advice, or any other advice or recommendation offered or endorsed by Coins.
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