Dogecoin: looking for Shiba Inu
Dogecoin is one of those cryptocurrencies that causes curiosity about the internet meme on which it is based (DOGE) and that represents it: a Japanese breed dog named Shiba Inu. This allows this cryptoactive to have a more fun and friendly image for users who approach it for the first time. The fact of using a pet as the image that identifies it, could give it a humorous touch, and perhaps, little serious or formal for many, which would mean not taking it very seriously as a cryptocurrency.
However, Dogecoin has become an increasingly closer alternative to all those users interested in starting in the world of cryptocurrencies, in order to understand the use and operation of this blockchain-based ecosystem, which allows us to start to manage them in the cloud environment (Internet) for various purposes.
To understand a little better the benefits of this cryptoactive, let's take a look at some historical aspects, characteristics, benefits, uses and curiosities that make it interesting, attractive and why not, fun for any crypto enthusiast, be this investor, trader or user of cryptocurrencies in everyday life.
A bit of history does not go wrong (Wow!)
The dogecoin (DOGE code, Ð and D) is a cryptocurrency derived from Litecoin (based on Scrypt technology), which was created in December 2013 by the programmer and former IBM engineer Billy Markus (originally from Portland, Oregon, United States of America) and Jackson Palmer, a worker at the Marketing Department of Adobe Systems in Sydney, Australia, being this one who originally conceived the idea of dogecoin. By December 17, 2013, 6% of the 100 billion DOGE guidelines had already been mined.
Markus's initial intention was to create a cryptocurrency with a wider user community than bitcoin and a story that was not related to the controversial beginnings of this cryptoactive (its association with the black market of Silk Road).
Today, Dogecoin is one of the cryptocurrencies with one of the largest and most active communities, a fact that is possible due to the ease it has of being mined and the number of Faucets available to obtain it for free.
Let's talk a little more about DOGE...
Dogecoin is a peer-to-peer and open-source digital currency, which, like all other cryptocurrencies, allows you to send/receive money online through the Internet. Therefore, it shares the same characteristics as the rest of cryptocurrencies: it is anonymous, decentralized and secure.
If you acquire the currency through the multiple exchange houses that offer it for purchase/sale, exchange or trading, you can store it in a digital wallet on your computer, smartphone or a web page (in this case the official wallet and explorer of blocks in the cloud is Dogechain). If instead, you want to download the wallet, you can go to their website. In turn, almost all multiwallets accept it, such as Coinomi and Jaxx.
Now, in addition to these characteristics of any cryptocurrency, what else does Dogecoin offer me?
We're going over there!
Thanks to how easy it is to acquire dogecoin for its low price and its extensive production to feed the cryptocurrency user market, DOGE has several benefits and uses that allow you to get the most out of it.
Let's see some for users who do not want to invest and for others who want to invest or trade with it.
It can be purchased without investment in Faucets like Freedogecoin. You just have to solve a captcha every 60 minutes and you will receive a small amount of DOGE. In turn, it allows the referral system to increase profits, with a minimum weekly withdrawal set by the platform.
It can be used to exchange or trade in the multiple exchanges listed in Coin Market Cap, both with other cryptocurrencies and for fiat money (dollars and euros).
One of the most characteristic or popular uses of Dogecoin is to tip other internet users that we believe create or share valuable content for a community. It's like a like or a positive vote, even a way to encourage active users in the world of cryptocurrencies to continue producing and sharing the content of interest to all its members. And the best, it has a value that can be used on the internet.
Curiosities (not everything is a joke)
On December 24, 2013, the first robbery of millions of dogecoins occurred in an attack on the Dogewallet.
The technology on which the dogecoin (Scrypt) is based uses a proof-of-work algorithm that prevents miners from using specialized equipment to mine bitcoins, in order to mine dogecoins faster.
It is the second currency with more followers on the Reddit social network.
The transactions are done in 60 seconds.
The low price of the quote makes commissions for sending and receiving dogecoins cheaper than those of bitcoin.
It is among the first 100 cryptocurrencies with the most capitalization in Coin Market Cap and among them among the first 30 for the date on which this post is written and published.
Due to his success, he came to sponsor in 2014 the NASCAR driver Josh Wise and his vehicle identified with the number 98.
He raised funds in 2014 to take the Jamaican bobsleigh team to the Winter Olympics in Sochi, Japan.
It has been used in charitable works, such as the creation of water wells in developing countries, among others.
That's all for today.
Long live dogecoin and make it to the moon!
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Post originally published on busy.org