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14] The Dogecoin network wasgoed originally intended to produce 100 billion Dogecoins, but straks, it wasgoed announced that the Dogecoin network would produce infinite Dogecoins.

Dogecoin ( / ? d o? ? k ?? n / DOHZH -koyn, [Trio] code: DOGE, symbol: ? and D) is a cryptocurrency featuring a likeness of the Shiba Inu dog from the “Doge” Internet meme spil its logo. [Four] [Five] Introduced spil a “joke currency” on 6 December 2013, Dogecoin quickly developed its own online community and reached a capitalization of US$60 million te January 2014. [6]

Compared with other cryptocurrencies, Dogecoin had a swift initial coin production schedule: 100 billion coins were ter circulation by mid-2015, with an extra Five.256 billion coins every year thereafter. Spil of 30 June 2015 [update] , the 100 billionth Dogecoin had bot mined. [7] While there are few mainstream commercial applications, the currency has gained traction spil an Internet tipping system, te which social media users grant Dogecoin tips to other users for providing interesting or noteworthy content. [8]

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Dogecoin wasgoed created by programmer Billy Markus from Portland, Oregon, who hoped to create a joy cryptocurrency that could reach a broader demographic than bitcoin. Te addition, he desired to distance it from the controversial history of other coins. [9] At the same time, Jackson Palmer, a member of Adobe Systems’ marketing department te Sydney, wasgoed encouraged on Twitter by a student at Gevelbreedte Range Community Collegium to make the idea a reality. [Ten]

After receiving several mentions on Twitter, Palmer purchased the domain dogecoin.com and added a splash screen, which featured the coin’s logo and scattered Comic Sans text. Markus spotted the webpagina linked te an IRC talk slagroom, and commenced efforts to create the currency after reaching out to Palmer. Markus based Dogecoin on an existing cryptocurrency, Luckycoin, [11] which features a randomized prize that is received for mining a block, albeit this behavior wasgoed straks switched to a static block prize ter March 2014. [12] Ter turn, Luckycoin is based on Litecoin, [13] which also uses scrypt technology te its proof-of-work algorithm. The use of scrypt means that miners cannot use SHA-256 bitcoin mining equipment, and that dedicated FPGA and ASIC devices used for mining are complicated to create. Dogecoin wasgoed officially launched on December 6, 2013. [14] The Dogecoin network wasgoed originally intended to produce 100 billion Dogecoins, but straks, it wasgoed announced that the Dogecoin network would produce infinite Dogecoins. [15] [16] [17]

On December Nineteen, 2013, Dogecoin leaped almost 300 procent te value te 72 hours, rising from US$0.00026 to $0.00095, [Legal] with a volume of billions of Dogecoins vanaf day. [Nineteen] This growth occurred during a time when Bitcoin and many other cryptocurrencies were reeling from China’s decision to forbid Chinese banks from investing into the Bitcoin economy. [13] Three days straks, Dogecoin experienced its very first major crash by ripping off by 80% due to this event and due to large mining pools seizing chance te exploiting the very little computing power required at the time to mine Dogecoin. [20]

On December 25, 2013, the very first major theft of Dogecoin occurred when millions of coins were stolen during a hack on the online cryptocurrency wallet podium Dogewallet. [21] The hacker gained access to the toneelpodium’s filesystem and modified its send/receive pagina to send any and all coins to a static address. [22] [23] This hacking incident spiked tweets about Dogecoin, making it the most mentioned altcoin on Twitter at the time, albeit it wasgoed te reference to a negative event. [24] To help those who lost funds on Dogewallet after its breach, the Dogecoin community began an initiative named “SaveDogemas” to help donate coins to those who had them stolen. Approximately one month straks, enough money wasgoed donated to voorkant all of the coins that were stolen. [25] On January 2014, the trading volume of Dogecoin shortly surpassed that of Bitcoin and all other crypto-currencies combined, however, its market capitalization remained substantially behind that of Bitcoin. [26] Spil of 25 January 2015 [update] , Dogecoin had a market capitalization of USD 13.Five million. [27] April 2015 Jackson Palmer announced he is taking an “extended leave of absence” from the cryptocurrency community. [28]

Te January 2018, Dogecoin reached $Two billion market cap. [29]

2014 Winter Olympics Edit

The Dogecoin community and foundation have encouraged fundraising for charities and other notable causes. On January Nineteen, 2014, a fundraiser wasgoed established by the Dogecoin community to raise $50,000 for the Jamaican Bobsled Team, which had qualified for, but could not afford to go to, the Sochi Winter Olympics. By the 2nd day, $36,000 worth of Dogecoin wasgoed donated and the Dogecoin to bitcoin exchange rate rose by 50%. [30] The Dogecoin community also raised funds for a 2nd Sochi athlete Shiva Keshavan. [31]

Doge4Water Edit

Inspired by the Winter Olympics fundraiser and smaller charity fundraising successes, the Dogecoin Foundation, led by Eric Nakagawa, began collecting donations to build a well ter the Tana sea basin te Kenya te cooperation with Charity: Water. They set out to raise a total of 40,000,000 ($30,000 at the time) Dogecoin before World Water Day (March 22). The campaign succeeded, collecting donations from more than Four,000 donors, including one anonymous benefactor who donated 14,000,000 Dogecoin (approx. $11,000). [32]

NASCAR Edit

On March 25, 2014, the Dogecoin community successfully raised 67.8 million Dogecoins (around $55,000 at the time) te an effort to sponsor NASCAR driver Josh Wise. Wise ran with a Dogecoin/Reddit-sponsored paint scheme at the Aaron’s 499 at Talladega Superspeedway. [33] On May Four, 2014, Wise and his car were featured for almost a minute, during which the wedloop commentators discussed Dogecoin and the crowdfunding effort, while ending twentieth and narrowly avoiding numerous wrecks. [34] On May 16, 2014, Wise won a spot at the Spurt All-Star Wedren through an online fan vote hammering household name Danica Patrick, largely due to the efforts of the Dogecoin Reddit community. He finished the wedloop ter fifteenth, the last car running. [35] [36] The following wedren te the Coca-Cola 600, Wise debuted a Dogecoin/Reddit.com helmet. [37] Wise zometeen announced he would run the car again at the Toyota/Save Mart 350 [38] spil a thank-you bounty to the community and the GEICO 500. He finished twenty-eighth te the wedloop due te part to a refueling punt, he wasgoed te twelfth place after a gas-and-go pit zekering, but the gas can did not engage long enough, resulting te a 2nd pit zekering that took him towards the back of the pack. [39] The developer of the NASCAR ’14 movie spel announced that they are looking into adding the Dogecoin car spil a drivable car ter an upcoming DLC. [36] [40]

Several online exchanges opoffering DOGE/BTC [41] and DOGE/LTC trading. Three exchanges, Mengmengbi, Bter and BTC38, offerande DOGE/CNY trading. [42] [43] On January 8, 2014, AltQuick.co wasgoed the very first exchange to launch DOGE/USD exchange. [44] On January 30, 2014, Canada-based exchange Vault of Satoshi also announced DOGE/USD and DOGE/CAD trading. [45] [46] On February 2014, Hong Kong-based exchange Asia Nexgen announced that they would support the trading of Dogecoins te all major currencies. China-based exchange BTC38 also added their support on the Dogecoin exchange, boosting the market capitalization overheen 24 hours. [47] [48] Ter the very first day of trading, Dogecoin wasgoed the second-most traded currency on the verhoging, after Bitcoin. [49] On September 2014, UK-based exchange Yacuna began suggesting DOGE/EUR and DOGE/GBP trading. [50]

On January 31, 2014, trading volume across the major exchanges wasgoed valued at $1.05 million USD. The market cap wasgoed USD$60 million. Three exchanges accounted for the majority of volume: Bter (60%), Cryptsy (23%), and Vircurex (10%). The most traded currency pairs were DOGE/BTC (50%), DOGE/CNY (44%) and DOGE/LTC (6%). [51]

Trading physical, tangible items ter exchange for DOGE takes place on online communities such spil Reddit and Twitter, where users frequently share currency-related information. [52] [53] [54] On December 23, 2013, Tristan Winters of the online journal Bitcoin Tv-programma discussed what wasgoed needed for Dogecoin if it everzwijn desired to have the success Bitcoin has had or to possibly substitute Bitcoin. [55]

The very first Dogecoin ATM wasgoed demoed at Coinfest ter Vancouver te February 2014. [56] Two Bitcoin ATMs supporting Dogecoins and other altcoins opened te Tijuana, Mexico on March 17, 2014. [57]

Dogecoin has also bot used to attempt to sell a house, [58] and has bot used te the pornography [59] and poker [60] industries.

Dogetipbot wasgoed a cryptocurrency transaction service used on popular sites like Reddit and Twitch.tv. [61] It permitted users to send Dogecoins to other users through directives via Reddit comments, [62] support for Twitch.tv and Twitter had bot discontinued earlier. [63] The service wasgoed launched te 2013 on Reddit. [64] The trademark “dogetipbot” wasgoed officially registered on August Nineteen, 2014. [65] Ter November 2014, the developer team behind dogetipbot raised $445,000 te venture capital funding. [66] Te May 2017 Dogetipbot wasgoed discontinued and taken offline after its creator proclaimed bankruptcy, this left many Dogetipbot users losing their coins stored te the Dogetipbot system. [67]

DogeAPI wasgoed a popular early digital wallet for Dogecoins. It wasgoed sold ter August 2014 to the blockchain API developer Block.io. [68] .

Overheen the years, many different tipping services have bot created.

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