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Dogecoin: a billion dollar crypto joke


An entrepreneur from Australia, Jackson Palmer, is amazed that, invented in joke in 2013, the Dogecoin (DOGE) cryptocurrency at the peak at the end of December reached a capitalization of $ 2 billion and attracted dozens, maybe hundreds of thousands of new users, to cryptocurrencies. At the time of publication, the capitalization of DOGE is about 1.3 billion dollars. In 2013, Jackson Palmer created the Dogecoin - fork of Litecoin with a higher emission and a short block - and named it after the Chinese breed of shiba-inu. For a nice image, users nicknamed the coin a baby money. Therefore, the Australian wanted to show the absurdity of huge investments in unstable assets during the 2013 cryptocurrency boom.

 The founder of DOGE believed that Dogecoin would become an educational platform for beginners. In addition, the coin cost much less than its "daddy" Litecoin and was excellent for micropayments and donations. A big role in its popularity was played by social networks and support of the Reddit community. Among the advantages of Dogecoin is the operational generation of the block once a minute, that is, the rapid confirmation of transactions. DOGE still remains popular and in December soared along with the rest of the cryptocurrency, despite the fact that its development actually stopped in 2016, when Palmer left his project. Now the Dogecoin is supported by the community, but there have been no major innovations for more than two years.

Read Full Story on: motherboard.vice.com

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