Dogecoin | study the benefits and drawbacks of DogeCoin cryptocurrency
The definition of DogeCoin , the benefits and drawbacks of the Dogecoin digital currency and every one of its concerns, is what we’ll address today within the Arab Bitcoin community for everything associated with topics and explanations of digital currencies, Bitcoin news and other electronic currencies.
The Dogecoin is one among the foremost famous cryptocurrencies, since its beginning was extraordinary, because it began as a way of entertainment by counting on the face of the Sheba dog “DOGE MEME” as its logo within the year 2013 to vary things and become the electronic currency more serious.
In this topic, we’ll get to understand DogeCoin more and study its advantages and drawbacks .
What is a dog coin?
1- DogeCoin Definition:
Dogecoin | Dogecoin may be a cryptocurrency that took its name from an image of the web meme and commenced as how of ridicule, but soon it had a lively and enthusiastic community, with a complete market price of $ 2 billion in January 2018.
The method of making a currency is totally different from all other cryptocurrencies.
Jackson Palmer, its founder – who was an employee at Adobe – posted a tweet on Twitter in 2013 mocking and mocking the massive number of other cryptocurrencies that appeared at that point .
He jokingly stated that he was investing in Dogecoin, a currency that didn’t yet exist supported the image of the favored shiba dog meme at the time.
To find that this tweet met with remarkable approval from followers who had already wished to be present, in order that “Palmer” would perform the mission through cooperation with programmer “Billy Marcus” to form Dogecoin a true and a reality.
December 2013 The coin is established by “Jackson Palmer”.
June 2014 Founding of the Dogecoin Foundation to preside over the currency.
April 2015 Jackson Palmer leaves the Dogecoin project.
January 2018 market price of the coin exceeds $ 2 billion.
The lowest value the currency reached ($ 0,000085) was in May 2015.
The highest value the currency reached ($ 0,018773) was in January 2018.
** The programmer “Billy Marcus” who helped produce the coin project and make it into reality bears the nickname “Shibatoshi Nakamoto”, which mixes the name of the “shiba dog” with the founding father of Bitcoin, “Satoshi Nakamoto.”
3- DogeCoin digital advantages and disadvantages:
Speed and cost: Dogecoin transactions are fast and feeble.
Community: one among the foremost important features of Dogecoin is that it’s a lively community because it has quite 100,000 Reddit members.
Philanthropy: The Dogecoin coin community has contributed to several charitable causes, like raising $ 25,000 for the Jamaican team to participate within the 2014 Olympics, and that they also collaborated with an association to deliver clean water to thousands of individuals in Kenya.
Mineralization: Dogecoin is minable, works with a proof-of-work algorithm. We previously raised a subject on the way to mine a coin ( the way to mine a coin (DogeCoin) )
The unlimited cap of the coin makes the worth of 1 token very low.
Their mining operation is extremely unprofitable by virtue of the currency’s value and performance within the market.
How to put up a coin and carry it for a meme could seem to several that it’s a satirical project and not a true project.
Availability of supply and a decrease in price, thus reducing investment demand for the currency.
Slow updates and development on draft coin.