The word Doge became popular with a “Caps”. Dogecoin became popular with the cartooning of a speech balloon over a Shiba Inu-type dog, as if the dog were telling his inner thoughts. The creator of Dogecoin, Billy Markus, is a software developer. He created Dogecoin to attract people’s attention to virtual currencies.
Dogecoin, which first appeared on December 6, 2013, developed rapidly among the communities that adopted it and quickly reached a market value of $ 60 million and even reached $ 308 million in December 2017.
Technical Information About Dogecoin
Dogecoin uses the algorithm called Scrypt, which is also used by Litecoin. In Dogecoin, the block timing is designed to be one minute. Within each 4-minute period, the difficulty level is calculated again. Because the amount of Dogecoin to be produced by mining is unlimited, it is not deflationary like Bitcoin.
Although it is similar to Litecoin, it differs from Litecoin in the mining phase. The 1 minute block period was seen as an advantage over the 2.5 minutes block period of Litecoin, and thanks to this advantage it spread quickly. At a time when it was worth 1500th of one dollar, people did little transfer transactions by sending 30,000 Dogecoins to each other just to be able to enjoy great money values.
When we look at the technical part, there is no difficulty or difference between using Bitcoin and other virtual currencies. What we mean is; a person using Dogecoin can use other virtual currencies without experiencing any difficulty. Many people do not know how to invest in virtual currencies or think they will make mistakes, so they cannot invest even though they are interested. Those who are hesitant about investing in cryptocurrency can make trials on Dogecoin.
How is the Dogecoin Mined?
The first step to mining cryptographic money that does not need high-performance computers is to go to dogecoin.com. From here, you need to download the appropriate program and install it on your computer. Then go back to the website, follow the directions and access the dogecoin pools, and you can easily do the production work by mining dogecoins in the pools.