How to buy Dogecoin Doge (DOGE)
What is Dogecoin Doge (DOGE)
Dogecoin is a cryptocurrency forked from the Litecoin blockchain. DOGE was created as a satire of cryptocurrency culture in 2013 and takes its name from the Shiba Inu Doge meme.
The project was founded by Billy Markus and Jackson Palmer, based on the idea that a comedic coin would receive more mainstream attention than a serious project like Bitcoin. Since its creation, a large community of fans including Elon Musk has rallied around and supported the coin.
Dogecoin uses a Proof of Work consensus mechanism that requires dedicated mining equipment to mine new coins. The supply of Dogecoins is unlimited to discourage hoarding, reward miners, and keep transaction fees manageable. This does, however, mean that the coin is inflationary. Although it started as a joke, Dogecoin has become increasingly popular with investors among other major cryptocurrencies.