Crypto Scholar

Dogecoin

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DOGECOIN (DOGE)

Current Market Price

$ 0.06203
0.00000231 BTC
Marketcap
$ 8,755,049,340
Volume (24h)
$ 204,134,393
Circulating Supply
141,213,266,384 DOGE
Total Supply
141,213,036,384 DOGE

What is Dogecoin?

Dogecoin (DOGE) is based on the popular “doge” Internet meme and features a Shiba Inu on its logo. The open-source peer-to-peer digital currency was created by Billy Markus from Portland, Oregon and Jackson Palmer from Sydney, Australia, and was forked from Litecoin in December 2013. Dogecoin’s creators envisioned it as a fun, light-hearted cryptocurrency that would have greater appeal beyond the Bitcoin audience. It has since then gained a massive community and even Tesla CEO Elon Musk posted several tweets on social media that Dogecoin is his favorite coin.

Major companies like Slim Jim, Axe and Burger King have been using Doge’s popularity as a marketing tool and it’s been received well by the community. This is the original creation for doge, it has a broad appeal and is a fun currency that introduces people to the world of crypto.

Dogecoin differs from Bitcoin’s proof-of-work protocol in several ways, one of which is by using Scrypt technology. The altcoin has also a block time of 1 minute, and the total supply is uncapped, as of today the total supply is . You can mine Dogecoin either solo, or by joining a mining pool. A Doge miner can mine the digital currency on Windows, Mac or Linux, and with a GPU. As of 2014, you can also mine Litecoin in the same process of mining Dogecoin, as the processes were merged.



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Dogecoin FAQs

You can sell or buy Dogecoin at any exchange that offers the digital currency, store it on an exchange or in a Dogecoin wallet, and tip Dogecoin in any communities that accept Dogecoin. For the latest list of exchanges and trading pairs for this cryptocurrency, click on our market pairs tab.

Dogecoin is unique because it started off as a joke not meant to be taken seriously by anyone it grew a following and quickly because a top 10 currency. Since then the crypto community has been using Dogecoin as an onboarding tool and introducing people to crypto. Through this community, they have brought awareness to major companies like Slim Jim, Axe and Burger King.

After several years of being inactive, the Dogecoin Foundation was relaunched in 2021 with a “renewed focus on supporting the Dogecoin Ecosystem, community and promoting the future of the Dogecoin Blockchain.” The project was literally revived because of the community. The advisors group is made up of Dogecoin founder Billy Markus, the project’s core developer Max Keller, Ethereum founder Vitalik Buterin and Elon Musk as represented by the head of the Musk’s family office, Jared Birchall.

Because Dogecoin is a fork of Litecoin, as of 2014, you can also mine Litecoin in the same process of mining Dogecoin.

The Dogecoin network relies on Proof-of-Work (PoW) mining to generate new DOGE and to secure the network. But unlike bitcoin (BTC) and litecoin (LTC), DOGE is an inflationary coin which means that there is no limit to how many DOGE coins can be produced. With Dogecoin mining, a new block is produced every minute, thereby mining new DOGE, which contributes in part to its notable market capitalization. The Dogecoin protocol was originally forked from the Litecoin protocol, and shares the latter’s Scrypt mining algorithm — which differs from the SHA-256 mining algorithm used by the Bitcoin protocol.

In 2014, a not-for-profit foundation was formed by members of the Dogecoin team to provide support, advocacy, trademark protection and governance for the cryptocurrency project. However, the foundation was dissolved over time.

After several years of being inactive, the foundation was relaunched in 2021 with a “renewed focus on supporting the Dogecoin Ecosystem, community and promoting the future of the Dogecoin Blockchain.” In addition to some of the original core team, the project now has some seasoned industry players as part of its board of advisors including Dogecoin founder Billy Markus, the project’s core developer Max Keller, Ethereum founder Vitalik Buterin and Elon Musk as represented by the head of the Musk’s family office, Jared Birchall.

According to the foundation’s website, members of the board will meet monthly to discuss issues relating to Dogecoin. Members of the Board of Advisors will function in various capacities. While Keller will serve as the project’s technical advisor, Markus will be in charge of the community and memes. Meanwhile, Buterin will function as the blockchain and crypto advisor for the foundation, and Birchall will represent Elon Musk as legal and financial advisor.

As a first assignment, the Board of Advisors will be working to secure three-year funding that would allow it to employ a small, dedicated staff to work on Dogecoin full-time. Up until now, the work on the ecosystem has been done by volunteers.

As of Monday August 16th 2021, The Dogecoin Foundation announced the reforming of the group and they are not here to ‘take control’ of the Dogecoin Core Wallet project, which remains the primary reference implementation of a compliant Dogecoin Wallet. They are here instead to accelerate the development effort by supporting current Dogecoin Core and future Dogecoin Developers to work on a full-time basis through sponsorship, as well as providing a welcome landing for new contributors hoping to help with the project.

The Dogecoin Foundation is also looking to the future of the broader Dogecoin ecosystem, and in coming weeks, will be announcing new projects that will complement the current Core Wallet to enable faster integration and easier APIs for Financial, Social and Charitable projects wishing to use Dogecoin.

Given the fact that Dogecoin is in the top cryptocurrencies, it is possible to buy Dogecoin, or use DOGE trading pairs on nearly all of the major crypto exchanges just like BTC. Some of the largest markets include:

Some of the top markets where DOGE trading is available are:

Binance (Binance.US if in USA)

Coinbase & Coinbase Pro

Gemini

Kraken

Huobi Global

Bitfinex

FTX

Bithumb

Gate.io

Still not sure which exchange to use? Check out Crypto Scholars guide on the top cryptocurrency exchanges and how to register for each one.

The most popular wallets for cryptocurrency include both hot and cold wallets. Cryptocurrency wallets vary from hot wallets and cold wallets. Hot wallets are able to be connected to the web, while cold wallets are used for keeping large amounts of coins outside of the internet.

Some of the top crypto cold wallets are Trezor and Ledger. Some of the top crypto hot wallets include Multidoge, Klever, Trust Wallet and others.

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