How Does Dogecoin Work? DOGE

Like many other coins, Dogecoin runs on its own dedicated blockchain. Dogecoin’s digital ledger is constantly being updated with all new transactions, and the network uses cryptography to keep all transactions secure. The Dogecoin blockchain uses a proof of work consensus mechanism, where miners use computers to solve complex mathematical equations in order to process transactions and record them on the blockchain. In exchange for supporting the blockchain, miners earn additional Dogecoin, which they can then hold or sell on the open market.

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Is Dogecoin a Good Investment?

Since there is no lifetime limit on the number of Dogecoins that can exist, and millions of new Dogecoins are released onto the markets every single day, there is very little incentive to hold the cryptocurrency for the long term. Bitcoin continues to rise in value because of the system’s lifetime cap on the number of coins that can be created.

Token Name - DOGECOIN
Token Symbol - DOGE
Token Decimal - 18
Token Supply -
Network - Smart Chain
Contract Address - 0x2C319BafEF98a29428c7e66a973b4ada1C80e4e9

History of the Dogecoin

Dogecoin was created in late 2013 by two software engineers, Bill Marcus and Jackson Palmer, who were working at IBM and Adobe Systems, respectively. It was created using the open-source code from Litecoin, which itself was a fork of the Bitcoin blockchain. The main purpose of its creation was to raise public awareness of blockchain technology capabilities.


Who created it?

Jackson Palmer, an Adobe employee, couldn’t believe the huge number of altcoins that were popping up in 2013. As a joke, he sent out a tweet saying he was investing in Dogecoin—a fake coin based on a popular meme featuring a Shiba Inu dog. Even though he tweeted in jest, several people thought he was on to something. They said the industry really needed a light-hearted token that could counter the more controversial coins on offer. So Palmer teamed up with Billy Markus, a programmer, to make Dogecoin a reality.