Dogecoin - Introduction and History
By December 2013, a single Bitcoin was worth over 1,083.14 US Dollars. By that time the world was starting to take cryptocurrency seriously. Billy Markus and Jackson Palmer thought that cryptocurrency has been taken overly seriously. They believed that crypto must be all about fun and not just about money. Consequently, they chose to create their own coin and came up with Dogecoin!
What is Dogecoin?
Dogecoin was launched on December 6th, 2013. Its mascot is a favorite meme of a Shiba Inu dog and also the way it is spelled and pronounced is borrowed from an internet puppet show. The community got very excited about this coin and began to speculate it. Although, it is a coin having a puppy on it – that is not the whole story.
What started as a little joke has now become a huge crypto community. Dogecoin is commonly called the "friendly" coin, and for good reason. Since its achievement, Dogecoin has been known for its charitable contributions and other great causes.
They have their own Shibe language. It's made up of humorous broken English phrases and phrases like, "such amazing", "much thankful" and "many functions".
What's Dogecoin Worth?
The brief answer is, not too much in terms of Satoshis, but its market cap ranks among top 30 of Cryptocurrencies! Dogecoin has no supply limit which means that there is an infinite amount of Dogecoin putting pressure on the price. In comparison coins such as Litecoin and Bitcoin have limited supplies. Such as, there will only ever be 21 million Bitcoins. But, you will find nearly 117 billion Dogecoin at the moment. This makes Dogecoin excellent for small transactions that's why it's used for tipping and donations.
What's Dogecoin Going to do?
The programmers of Dogecoin haven't made any significant changes to the coin and there is no roadmap. This means that Dogecoin can get left behind and is why Shibes are departing Dogecoin to join advanced platforms such as Ravencoin.
Why have not there been any updates? Well, regrettably, Dogecoin only has three programmers and they're part-time volunteers! One of Dogecoin's advantages is the community that is fun-loving and promoting. However, this still is a weakness because other Crypto communities are way more professional.
One of Dogecoin's programmers, Ross Nicoll, has stated that he is working on an upgrade recently. The update is named Dogecoin 1.14 also it should be prepared within the upcoming few months. This update should make the platform safer and more stable. It could also mean that the value of the coin may rise as per the Dogecoin Price Prediction
Conclusion
When we inquire, "what is Dogecoin?", the solution is simple. Dogecoin is one of the countless cryptocurrencies that follows Bitcoin. The question we ought to be asking is, "what is Dogecoin doing for Cryptocurrencies?" The answer to this question is that it is showing that projects can still survive if they have a strong community. Dogecoin aims to be the tipping currency of the internet and it is building a place where people can have, perform minor transactions while leaning about Cryptocurrencies.