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What Is Dogecoin?
A cryptocurrency called Dogecoin was invented in 2013 by Billy Markus and Jackson Palmer as an alternative to Bitcoin (BTC). It is based on Litecoin’s codebase but uses an entirely different hashing algorithm called Scrypt instead of Bitcoin’s SHA256 algorithm. It is more popular among miners worldwide who want higher profits from their mining efforts without having to spend too much energy on the processing power needed for mining BTCs.
Dogecoin And Its Potential: A KuCoin Guide
The cryptocurrency has been on a roll lately, with its value increasing by over 25% in the past month alone. Dogecoin is a cryptocurrency that was launched on December 8, 2013. Billy Markus created it in Portland, Oregon. The currency’s name references the Shiba Inu dog meme and its founder’s love for all things Japanese.
The currency gained popularity in 2014 when it began to be used as a tipping service for social media posts. It has since been used as an alternative to Bitcoin as a payment method for goods and services online and offline. Many companies have begun accepting Dogecoin as a payment method for their goods and services.
The currency started at just over one billion coins in circulation but has grown to over 100 billion coins today. Dogecoin has also seen some competition from other cryptocurrencies such as Ripple (XRP), Ethereum (ETH), EOS (EOS), Litecoin (LTC), and Cardano (ADA), among others. However, none of these other altcoins have reached the same popularity that Dogecoin currently enjoys with its community members around the world, including those living in countries where cryptocurrency transactions are illegal, such as China or India, among others.