Dogecoin is a peer-to-peer open source crypto asset that belongs to the altcoin category and has a Doge unit of value. Launched in December 2013 by Billy Markus and Jackson Palmer, the coin has the Shiba Inu as its logo. This is because, at first, people saw crypto as very serious and only related to money.
Therefore, Billy Markus and Jackson Palmer are trying to break the stigma and make crypto a fun thing and not only related to money. Then, came Dogecoin which gained wide acceptance for online transactions. Dogecoin reached a market cap of $60 million in January 2014 or within 1 month.
As already mentioned, this coin has its own very large community all over the world, besides, this community has also achieved great things; from funding Olympic athletes, to providing clean water to Africa. Dogecoin also uses the Scrypt algorithm which allows fast payments to anyone and anywhere around the world.
One of its most popular functions is “tipping” in the internet world. Which means, social media users can give tips using these coins to other users for the interesting content they provide. These are like “likes” that are more real and can be cashed out. For the rest, transactions are processed peer-to-peer which means there are no third parties or intermediaries involved and the transactions are completely anonymous.
Until this video was made, there are already around 125 million Dogecoins in circulation in the world. Dogecoin has no supply limit, which means the number of Dogecoins is endless, so the price won’t rise as much as other coins like Bitcoin which have a limited supply.