The definition of DogeCoin , the advantages and disadvantages of the Dogecoin digital currency and all of its concerns.
The Dogecoin is one of the most famous cryptocurrencies, since its beginning was unusual. It started as a means of entertainment by relying on the face of the Sheba dog “DOGE MEME” as its logo in the year 2013 to change things and become the electronic currency more serious.
In this topic, we will get to know DogeCoin more and learn about its advantages and disadvantages.
What is a dog coin?
1- DogeCoin Definition:
Dogecoin | Dogecoin is a digital cryptocurrency that took its name from a picture of the Internet meme and started as a way of ridicule, but soon it had an active and enthusiastic community, with a total market value of $ 2 billion in January 2018.
The method of creating a currency is completely different from all other cryptocurrencies.
Jackson Palmer, its founder - who was an employee at Adobe - posted a tweet on Twitter in 2013 mocking and mocking the large number of alternative cryptocurrencies that appeared at that time.
He jokingly stated that he was investing in Dogecoin, a currency that did not yet exist based on the image of the popular shiba dog meme at the time.
To find that this tweet met with remarkable approval from followers who had already wished to be present, so that "Palmer" would carry out the mission through cooperation with programmer "Billy Marcus" to make Dogecoin a real and a reality.
2- DogeCoin historically:
- December 2013 The coin is established by "Jackson Palmer".
- June 2014 Founding of the Dogecoin Foundation to preside over the currency.
- April 2015 Jackson Palmer leaves the Dogecoin project.
- January 2018 market value of the coin exceeds $ 2 billion.
- The lowest value the currency reached ($ 0,000085) was in May 2015.
- The highest value the currency reached ($ 0,018773) was in January 2018.
** The programmer "Billy Marcus" who helped produce the coin project and make it into reality bears the nickname "Shibatoshi Nakamoto", which combines the name of the "shiba dog" with the founder of Bitcoin, "Satoshi Nakamoto."
3- DogeCoin digital advantages and disadvantages:
Features:
- Speed and cost: Dogecoin transactions are fast and feeble.
- Community: One of the most important features of Dogecoin is that it has an active community as it has more than 100,000 Reddit members.
- Philanthropy: The Dogecoin coin community has contributed to many charitable causes, such as raising $ 25,000 for the Jamaican team to participate in the 2014 Olympics, and they also collaborated with an association to deliver clean water to thousands of people in Kenya.
- Mineralization: Dogecoin is minable, works with a proof-of-work algorithm.
Defects:
- The unlimited cap on the coin makes the value of one token very low.
- Their mining operation is very unprofitable by virtue of the value of the currency and its performance in the market.
- How to put out a coin and carry it for a meme may seem to many that it is a mock project and not a real project.
- Availability of supply and a lower price, thus reducing investment demand for the currency.
- Slow updates and development on Draft Coin.
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