What is Dogecoin (DOGE)?

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DOGE Coin Price

What is Dogecoin? | A Quick Overview

Doge is a meme created in 2013 about the Shiba Inu Japanese breed of dog, which was then taken and converted into a peer-to-peer cryptocurrency.

Since then this decentralized peer-to-peer cryptocurrency has taken hold of a market cap over $1 billion even though it was previously thought to be a joke.

History of Doge Cryptocurrency

Billy Marcus, a programmer from Portland, Oregon, created Dogecoin with a mission.

To create a fun, more mass appealing cryptocurrency without the intonations of drugs or weapons.

This was in December of 2013. Shortly after Jackson Plamer, a member of Adobe systems marketing division brought the idea to reality.

He purchased the domain and got up a site quickly.

Doge was launched on December 6th,2013.

In 72 hours (December 19th, 2013) it jumped over 300 percent in value, but it later experienced an 80% crash due to the sudden rise and miners taking advantage of its easy ability to mine doge coins.

On December 25th, Doge experienced its first significant attack, resulting in millions of coins were stolen. They were quickly made up for by a movement called “Save Dogemas.”

Then trading volume in January 2014 passed that of Bitcoin while its market cap still was behind.

Jackson Palmer announced an “extended leave of absence” later in April of 2015.

In 2017 this cryptocurrency passed $1 Billion in its market capitalization.

The Founders of Dogecoin

Jackson Palmer - Linkedin

Creator of DOGE and Adobe Project Management Lead.

Billy Markus - Linkedin

Software engineer at IBM and co-creator of DOGE.

The Purpose of Dogecoin Cryptocurrency

Doge cryptocurrency was originally intended as a joke cryptocurrency.

Something to make the whole ecosystem of crypto seems less like it was for drug dealers and more like it was for everyone.

That’s why they chose the lovable meme doge that was circulating at the time.

Although, its code resembles that of a copy of Litecoin called Luckycoin.

Originally they intended at making the max supply 100,000,000,000 but then took any cap to allow for unlimited printing.

After getting huge community backing, they aimed to get Dogecoin in stores, have it circulating, and make it a peer-to-peer digital currency.

The problem is that its functionality isn’t anything special and that there is unlimited printing of them

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The Features of Doge Cryptocurrency

Fun and Friendly

DOGE was intended to be fun and friendly.

It doesn’t isolate people in technology, and it isn’t a coin that is sophisticated.

Easy To Get Started

All someone needs to do to get started with Dogecoin is:

  • Get a Wallet
  • Get Some DOGE
  • Use Your DOGE
  • Stay Up-to-date

What We Think of Dogecoin

Honestly, Dogecoin was created as a funny non-isolating meme coin.

It doesn’t have a max supply and can continue to be mined infinitely.

This is not a coin we own, nor will ever own, as it is typically used for pump and dump schemes or its community raves about it.

DOGE is not a serious contender for a long-term cryptocurrency regardless of its total market capitalization.

If you liked this review and want to help support the academy donate some Ethereum below!

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February 23rd 2018, 00:31