A crypto- currency called Dogecoin was invented from the reference of a ‘Doge’ meme which gathered the immense-attention from the public and lately on having a great fan following was transfigured into a digital currency. Utility of the Dogecoin includes its usage for availing a diverse range of goods and services online apart from it being a tipping currency for the platforms like Reddit and Twitter.
The total stipulated supply for the Dogecoin is 100,000,000,000 DOGE. It follows the algorithm of Scrypt. About 111 million Dogecoins have already been mined till date. Dogecoin has also contributed to the numerous charitable projects. Doge4Water is a specific instance of it, where it has raised the donations in form of Dogecoins to help in the cause of constructing the wells and tanks in the water deficient region of Tana River Basin, Kenya.
Dogecoin was invented by Billy Markus on 8 December 2013. It transformed its purpose of a digital currency from a ‘Doge’ meme that is actually composed from a dog breed of ‘Shiba Inu’. Initially it was coined as joke currency.
Dogecoin can be acquired against the various fiat and Crypto-currencies like USD, Bitcoin etc. The prominent exchanges that engage in the trade of Dogecoin are listed below:
· Coin exchange
· Dogecoin Core
· Cryptonator (Online Wallet)
· Trezor T
· Ledger Blue
· Ledger Nano S
· Holy Transaction
· The Dogecoin community is a community of light-hearted and fun loving people that promote the productive use of the funds and do not indulge in the illicit affairs.
· Dogecoin allows the faster transactions with a nominal charge of transaction fee.
· Due to its low decimal value, so easy to transact it for trivial deals.
· Low cost of Dogecoin is one of the inhibitions that stand in its way to bloom like its peer Bitcoin.
· The basic foundation and philosophy of Dogecoin promotes a fun scenario to participate in this digital mode, hence, it is finite to the non-serious investors.