• Sun. Jun 4th, 2023


Crypto & Blockchain information

What is Dogecoin

Dogecoin (DOGE), one of the cryptocurrencies that has been heard frequently recently, emerged in December 2013. Today, Dogecoin (DOGE) and its derivatives digital currencies are on the agenda due to the fact that cryptocurrencies for investment and transaction purposes are more preferred.

Dogecoin (DOGE) was created by Jackson Palmer and Billy Markus, designed to create a fun payment system without traditional banking transaction fees. By January 2014, this currency has surpassed many cryptocurrencies, including Bitcoin, with its total transaction volume. This Dogecoin (DOGE) rise continued, reaching a peak of $0.017 on January 7, 2018.

Since Dogecoin (DOGE) does not aim to innovate in blockchain technology, its transfers are carried out over the blockchain network established by the Litecoin cryptocurrency. Updates to the Litecoin network also apply to the Dogecoin (DOGE) network.

When Dogecoin (DOGE) first appeared, a random reward was given to the user for each block mining for investment purposes, but later this reward was converted to static.

What Are the Features of Dogecoin (DOGE)?
Dogecoin (DOGE), named after a famous internet character, was designed to be a more accessible and friendly cryptocurrency. In this way, it was thought that it would be possible to access users who escaped the complexity of Bitcoin.

From the perspective of the Dogecoin (DOGE) market, this currency is known for having one of the most active and largest communities. This crypto money, which is widely used especially for tipping, is also preferred to finance various projects. In the form of tipping, users tip the other user for contributions or senders that they believe should be recognized. It is said to be effective.

The most important feature that distinguishes Dogecoin (DOGE) from other cryptocurrencies is that it is inflationary, not deflationary. So there is no limitation on Dogecoin (DOGE) in circulation. When Bitcoin and similar currencies reach the limit, it will not be profitable to continue mining after a while. For this reason, Dogecoin (DOGE) is also advantageous in terms of long-term transactions.

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