Starting as a fun currency with the Internet meme “Doge”, Dogecoin is evolving into a serious peer-to-peer cryptocurrency.
When Dogecoin first appeared in the world of cryptocurrencies, the concept was not meant to be taken seriously at first. Even today, the reference to the meme dog “Doge” (a Shiba Inu), which has been circulating on the Internet for years, still announces this background in the system. The currency “Doge” started at the end of 2013. However, the currency system quickly developed into a serious so-called peer-to-peer cryptocurrency. This is characterized, among other things, by the open-source code and the equal treatment of all users of the network.
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Creation of the Dogecoin from 2013
After its market launch shortly before the beginning of 2014, Dogecoin is now one of the established models of meme tokens on the crypto market. What started out humorous quickly blossomed into a popular internet currency. Founder Jackson Palmer probably did not expect the early success, at least to this extent. The fact that the DOGE offer, which was launched in Colorado, and is designed as a non-profit foundation, quickly attracted the first interested parties. Accordingly, the foundation generated funds through funds – in this case donations – provided by members of the community. In this context, advertising also plays a central role in the network. Due to the special orientation of the network as a P-2-P system, the developers did without central servers within the blockchain.
This results in an exemplary decentralized function. The Dogecoin course is now listed and traded on many leading crypto exchanges worldwide. In the case of this meme token, there is no predetermined maximum number of units, as founder Palmer announced at the beginning of 2014. Previously, there was talk of a limit of 100 billion coins.
Advantages of Dogecoin at a Glance:
- very decentralized way of working and participation for community members
- Network participants assume an equal position
- Trade on many globally relevant crypto exchanges
- Dogecoin quickly arrived in the first ranks of cryptocurrencies
- well-known crypto fans such as Tesla boss Elon Musk are self-confessed Dogecoin advocates
History And Technology Behind Dogecoin
The said server waiver is (of course as with some other digital currency) an essential feature. Although the “Doge” system did not start out on the market very seriously, the format quickly secured a large fan base in the crypto-verse. Of course, this was quickly reflected in the development of the Dogecoin course. Already in the first few weeks after the introduction, there were some interesting price jumps, which also attracted many speculators. From a technical point of view, it was and is precisely the decentralized participation of the equal and equal members of the network that attracted users. A proof-of-work serves as the Dogecoin basis algorithm. It is designed to limit the risk of fraud. In addition to private users who want to send and receive money, online retailers who are looking for a cheap, fast and reliable crypto payment model are now being addressed. A significant part of the communication of the Doge community takes place via the Reddit portal. Coins can also be used here to react positively to posts (keyword: “Like”).
Doge Run: Greater Integration Into Exchanges And Wallets As An Opportunity
Even if the Dogecoin was more of a kind of “fun product” at the beginning, the meme coin is now an integral part of the crypto world. The rapidly growing community and the increasing number of investors and prominent fans are fueling the popularity. As a result, DOGE is appearing on more and more crypto exchanges. The Dogecoin can also be stored, sent and received in a constantly increasing selection of wallets. It seems only a matter of time before the Dogecoin course will also be available as a basis for alternative financial products such as contracts for differences or options. It is advisable to compare the prices on stock exchanges – because exchange rate differences always generate particularly good returns.