Table of Content
- How Does Dogecoin Mining Work?
- What Can You Do With Dogecoin?
- How Can You Purchase Dogecoin?
DOGE (Dogecoin), a cryptocurrency based on the “doge” Internet joke and includes a Shiba Inu as its logo. Billy Markus of Portland, Oregon, and Jackson Palmer of Sydney, Australia, developed the open-source digital currency, which forked from Litecoin in December 2013. Dogecoin’s founders envisioned it as a fun, lighthearted cryptocurrency with a broader appeal than the core Bitcoin audience. Elon Musk, CEO of Tesla, said on numerous occasions that Dogecoin is his favorite currency.
How Does Dogecoin Mining Work?
Dogecoin’s cryptocurrency proof-of-work system varies from Bitcoin’s in many aspects, one of which is the use of Scrypt technology. The cryptocurrency also features a 1 minute block time and an unlimited total supply, which implies no limit that may be mined. You may mine Dogecoin either alone or as part of a mining pool. A Doge miner may mine the digital money using a GPU and Windows, Mac, or Linux. As of 2014, you may mine Litecoin the same way you mine Dogecoin, as the processes have been integrated.
What Can You Do With Dogecoin?
Dogecoin has mainly been utilized on Reddit and Twitter as a tipping mechanism to reward the production or sharing of high-quality content. You may acquire free Dogecoin by joining a group that uses digital currency, or you can get it through a Dogecoin faucet. This is a website that will offer you a small quantity of Dogecoin for free as an introduction to the currency, allowing you to start participating in Dogecoin communities.
How Can You Purchase Dogecoin?
You may sell or purchase Dogecoin on any exchange that supports the digital currency. Keep it on it or in a Dogecoin wallet, and tip the coin in any Dogecoin-accepting community. Before investing in Dogecoin head here to compare and find all the cryptocurrencies’ prices!