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.
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16 Facts About Dogecoin
2.
Dogecoin is based on Scrypt algorithm, and the transaction process is more convenient than Bitcoin.
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3.
Dogecoin takes only 1 minute to confirm, while BTC takes 10 minutes.
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4.
Originally formed as a "joke", Dogecoin was created by IBM software engineer Billy Markus and Adobe software engineer Jackson Palmer.
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5.
Markus had designed Dogecoin's protocol based on existing cryptocurrencies Luckycoin and Litecoin, which use scrypt technology in their proof-of-work algorithm.
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6.
In January 2014, the trading volume of Dogecoin briefly surpassed that of Bitcoin and all other cryptocurrencies combined.
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7.
In July 2020, the price of Dogecoin spiked following a TikTok trend aimed at getting Dogecoin to US$1.
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8.
Dogecoin is an altcoin with a large userbase, and is traded against both fiat currencies and other cryptocurrencies on several reputable cryptocurrency exchanges and retail investment platforms.
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9.
Dogecoin has been used in an attempted property sale, it and has been used in the pornography and gambling industries.
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10.
The Ren Project has enabled Dogecoin to be used on the Ethereum blockchain and access the DeFi network.
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12.
Dogecoin finished the race in fifteenth, the last car running.
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13.
Dogecoin finished twenty-eighth in the race due in part to a refueling issue; he was in twelfth place after a gas-and-go pit stop, but the gas can did not engage long enough, resulting in a second pit stop that took him towards the back of the pack.
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14.
McLeod Motorsports announced that Dogecoin would be sponsoring the ? 99 car in the Alsco Uniforms 300 at Las Vegas alongside Springrates; Stefan Parsons drove the car to a 36th-place finish as fuel line issues prevented him from completing the race.
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15.
Similar to many other cryptocurrencies, Dogecoin has been described by some commentators as a form of Ponzi scheme.
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16.
Musk and his promotion of Dogecoin have been criticized by Dogecoin co-founder Jackson Palmer, who called Musk a "self-absorbed grifter".
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