Dogecoin is a cryptocurrency created by Billy Markus and Jackson Palmer in 2013.
It is named after a Shiba Inu dog named "Doge" that is popular in internet memes. Therefore, Dogecoin's symbol is the logo of a Shiba Inu dog.
Although Dogecoin started as a clone of Bitcoin, it is technically based on Litecoin. It uses Litecoin's open source code and has many similar features.
Dogecoin is a cryptocurrency based on the "joke".
Dogecoin uses the proof-of-work (PoW) consensus algorithm. It uses the Scrypt algorithm for mining operations.
Dogecoin's block time is around 1 minute, meaning it can add faster transaction confirmations to the blockchain.
One of the most distinctive features of Dogecoin is that it has a large community and social media interaction. Dogecoin is supported by a community that is particularly active on platforms such as Reddit and Twitter.
As its popularity and adoption increases, Dogecoin has begun to be accepted as a form of payment by some businesses and institutions.
Dogecoin's supply is theoretically unlimited. Initially, 5,256 new Dogecoins were produced per second, and this amount is halved for each block.