The story of the creation of Dogecoin
Dogecoin cryptocurrency was released on December 8, 2013 programmers from Portland Billy Marcus and Jackson Palmer. The systems of the system are based on the Luckycoin coin, created on the basis of Litecoin. Two weeks after entering the market, the system was attacked, there was an attempt to steal a large -scale cryptocurrency.
Dogecoin idea is to move away from Bitcoin and its use in the “dark” Internet. As you know, most of the services for the purchase of weapons, drugs in the black segment of the network are purchased precisely with the help of the “father” of cryptocurrencies.
Initially, it was conceived that the issue would be limited in 100 billion coins, but later this provision was canceled. To date, more than 110 billion Dogecoin is located in the turnover.
The coin symbol is the dog of the Siba -Inu breed – a popular meme on the network, the explosion of the popularity of which occurred in 2013.
Despite its initial playfulness, the project has quickly gained popularity and today capitalization is striving for $ 1 billion.
The community of holders of this cryptocurrency has repeatedly carried out fees for various charitable goals. So, in January 2014, Dogecoin participants financially supported the Jamaica team in Bobslei, who financially did not have the opportunity to go to the Winter Olympic Games 2014 in Sochi. Then 50 was collected.000 $. In the same year, the Dogecoin community supported the Nascar rider Josh Wise with an amount of 55.000 $ to participate in competitions. The athlete’s car was repainted into the symbolism of cryptocurrency on them.
2014 was a breakthrough for Dogecoin. Then the largest transaction in the system occurred, Twitch streaming service began to accept cryptocurrency as a payment, the number of community members exceeded one million people.
In 2015, Jackson Palmer left the project.
One of the most popular methods of using Dogecoin is to encourage authors of various kinds of content as a sign of gratitude for their work.
The official website of the project is Dogecoin.Com.
Token name – DOGE.
Cryptocurrency originates from December 8, 2013.
The Dogecoin system, like its Litecoin. Such an algorithm is called Scrypt. The user generates two cryptographic keys. One of them is open, the other is closed. Only the second can decodate information. The open key does not have such an opportunity, so the user can freely share it without fear for his encrypted data.
Addressing in Dogecoin is based on the hash algorithm Open keys. The address consists of 34 characters, and the upper and lower register can be used, and begins with the letter D.
The new block in the Dogecoin system is created in a minute, while in Litecoin – for two and a half. Due to this, cryptocurrency has a high speed of transactions on the network. The complexity of each block is not fixed, every time it changes.
Initially, the complexity changed once every four hours, and the remuneration was a random number of coins from 0 to maximum, which was determined depending on the order of the block. After the indignation of the miners, the reward became fixed – 250,000 coins.
In December 2015, the news appeared that Dogecoin will be integrated into the Ethereum network. This will happen to implement smart contracts – a computer algorithm that carries out and supports commercial transactions (contracts) in the blockchain system.
The system has high anonymity, good protection against DDOS-att. Proof-a-Proof-OF-WORK. This algorithm checks whether the calculations were carried out when creating a new block. Commission in the system – 1 Dogecoin, regardless of the amount of translation.
To date, the cost of one coin ranges in the region of 0.007 US dollars. The maximum price at which Dogecoin was traded – 0.017. Cryptocurrency reached this cost in early January 2018. The total capitalization of Dogecoin exceeds the amount of 800 million US dollars. About 110 million coins are in circulation. In December 2013, Dogecoin set a record for the daily volume of transactions, surpassing other cryptocurrencies in 2.5 times.
One of the storage methods is the official wallet that can be found on the Dogecoin website.Com. It is available for use on OS X, Windows, Linux and Android. In addition to the wallet from the official website of the coin can be stored in systems such as Dogechain Wallet, Holytransactions and Block.Io.
Dogecoin is widely represented on large cryptocurrency exchanges. You can purchase coins at the following sites:
The crane method of obtaining doGecoin is popular. Users receive cryptocurrency for performing certain actions on some sites. Sites that offer such services and are called cranes.
Course for 2017, prospects for the near future
Throughout 2016 and at the beginning of 2017, the cost of Dogecoin practically did not change, hesitated in the region of 0.0002 US dollars for 1 DOGE. However, in May 2017 there was a rapid increase in the cost of the coin, the price increased almost 20 times, to 0.004 $. This phenomenon attracted the attention of cryptocurrency traders, forced to reconsider its opinion about the “comic” coin. The next six months passed in a calm mode after stabilization and falling to the price of 0.001 $. At the end of November 2017, Dogecoin again went in height, stably adding in cost every day. Cryptocurrency celebrated the New Year at 0.007 US dollars. To date, the peak cost of Dogecoin has been reached on January 8, 2018 – 0.$ 017, 85 multiple growth compared to the beginning of 2017. At the moment, the cost of token is 0.007 US dollars, total capitalization – 830 million.
Since the founding of cryptocurrency, many times predicted an imminent death, but the coin only strengthened, rapidly gaining cost and popularity among both large players and ordinary people.