Dogecoin is a cryptocurrency created by software engineers Billy Markus and Jackson Palmer, who decided to create a payment system as a “joke”, making fun of the wild speculation in cryptocurrencies at the time. It is considered both the first “meme coin”, and, more specifically, the first “dog coin”. Despite its satirical nature, some consider it a legitimate investment prospect. Dogecoin features the face of the Shiba Inu dog from the “doge” meme as its logo and namesake It was introduced on December 6, 2013, and quickly developed its own online community, reaching a market capitalization of over $85 billion on May 5, 2021. As of 2021, it is the shirt sponsor of Watford Football Club.
Dogecoin.com promotes the currency as the “fun and friendly Internet currency”, referencing its origins as a “joke”. Software engineers Billy Markus and Jackson Palmer launched the satirical cryptocurrency as a way to make fun of Bitcoin and the many other cryptocurrencies boasting grand plans to take over the world. With the help of Reddit, the site became an instant hit. Within two weeks, Dogecoin had established a dedicated blog and forum, and its market value has reached US$8 million, once jumping to become the seventh largest electronic currency in the world. Dogecoin is based on Scrypt algorithm, and the transaction process is more convenient than Bitcoin. Dogecoin takes only 1 minute to confirm, while BTC takes 10 minutes.
The Ethereum platform supports Ether in addition to a network of decentralized apps, otherwise known as “dApps.” Smart contracts, which originated on the Ethereum platform, are a central component of how the platform operates. Many decentralized finance (DeFi) and other applications use smart contracts in conjunction with blockchain technology.
Bitcoin is a decentralized digital currency, without a central bank or single administrator, that can be sent from user to user on the peer-to-peer bitcoin network without the need for intermediaries
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