What is Dogecoin?
The story of the creation of Dogecoin, the cryptocurrency, is quite impressive. Dogecoin, which was created by inspiring a conversation on the Internet, attracted considerable attention in a short time. So much so that it has become one of the most demanded and traded coins in the digital currencies market.
Doge emerged due to the deliberate spelling of the word ‘Dog’. It is also claimed to be sung at the puppet show known as ‘Homestar Runner’ shown in 2005.
After these “Doge” conversations, the cryptocurrency named Dogecoin was created. Dogecoin, which was launched to increase people’s interest in digital currencies, has entered the top 20 coins in a short time.
Billy Markus, the creator of Dogecoin, used the “Shiba Inu” type dog in his logo.
How Dogecoin Works?
In the cryptocurrency named Dogecoin, the block times are designed to be 1 minute. Also, the difficulty level is calculated by the Network every four minutes. Unlike Bitcoin and many other cryptocurrencies, there is no production limit in Dogecoin. Therefore, it cannot have a deflationary state.
Another issue that Dogecoin attaches importance to is mining. After cryptocurrencies get so much attention and demand, exceptional hardware is needed to mining in popular coins like Bitcoin and Ethereum. However, you can even do Dogecoin mining with your standard equipped home or office computers.
How Much is Dogecoin?
The value of Dogecoin, which ranks 32th in the ranking of the most valuable virtual currencies, is $0,002648. The daily trading volume is 195 million dollars, and the market value is around 333 million dollars.