Dogecoin, also known as "Dog Coin," was born on December 8, 2013, and is based on the Scrypt algorithm. It has become the second-largest virtual currency in terms of user base, trailing only Bitcoin internationally. After its launch, Dogecoin experienced explosive growth in traffic, thanks to the support from Reddit (where Doge content was incredibly popular). Within just two weeks, it had established its own blog and forum. By June 9, 2015, its market capitalization reached $100 million. Due to the lack of pre-mining, Dogecoin distribution was fair, and its culture of charity and tipping resonated with users, leading to rapid user growth. As of June 9, 2015, Dogecoin had 1.6 million client addresses, over five times that of Litecoin. In terms of active client addresses, Bitcoin had 196,000, Dogecoin had 83,000, and Litecoin had 11,000. On Twitter, Dogecoin had over 150,000 followers, which is 1.7 times that of Bitcoin and six times that of Litecoin. On Facebook, the number of likes matched that of Bitcoin and far exceeded Litecoin. Its daily trading volume consistently ranked among the top three virtual currencies, even before being listed on major platforms. The greatest value of an internet company is its vast user base, and Dogecoin achieved one-third of Bitcoins user base in just one year, four times that of Litecoin.
I. Birth Background
Dogecoin was born on December 12, 2013. One of its creators was Jackson Palmer, an Australian brand and marketing expert, and the other was programmer Billy Markus from Portland, Oregon, USA.
Based on the Scrypt algorithm, transactions with Dogecoin are more convenient than with Bitcoin, with a confirmation time of just one minute compared to Bitcoins ten minutes. Dogecoin also has a higher supply, lower price, faster transaction speed, and better meets the psychological needs of the masses, making it more suitable for online tipping and easier for everyday use.
Dogecoin has its own core culture, including a strong tipping culture, a humanitarian charitable culture, and a promising grassroots culture.
In the first year, 100 billion Dogecoins were mined, with 5 billion more to be mined each subsequent year, with no upper limit. After one year, the inflation rate will stabilize at 5% annually and continue to decrease, reaching just 2.5% after 20 years. This aligns better with the development of currency. Over 90 billion Dogecoins have already been mined, and the inflation rate will drop below that of Bitcoin in about five days, around October 2nd, when the mining reward halves again.
Dogecoin has adopted auxiliary mining, with computing power increasing from 60G to nearly 1T. Auxiliary mining solves Dogecoins biggest security issue and is a completely different solution from the merged mining proposed by the founder of Litecoin previously.
II. Dogecoin Applications
Facebook Approves Dogecoin Tipping Apps
Two tipping apps have been approved for release on Facebook: Doge Tipping App, which exclusively uses Dogecoin, and Multicoin Tipping App, which supports 14 altcoins, including Dogecoin. These are the first dedicated tipping services to appear on the platform. Alejandro Caballero, the head of the software development team, called the approval of both apps a "double surprise." The team is now working to introduce more coins into this field. The Dogecoin community has praised the move and tipped Dogecoin in encouragement.
Although Facebook approved these apps, users should note the relevant restrictions. Tipping is limited to approved groups to avoid confusion, but groups can be added, so all Facebook users could potentially receive tips.
In addition to launching on Facebook, the development team has more ambitious plans, such as developing global tipping platforms for WordPress, Drupal, Joomla, Xenforo, PHPBB, and others. Dogecoin is a popular tipping tool, but it faced some platform limitations. Its integration into Facebook will likely attract more users to Dogecoin.
Twitch Accepts Dogecoin
On October 22, 2014, Twitch, a live streaming video platform focused on video games, announced via its official Twitter account that it would accept Dogecoin as a payment method for subscriptions. Notably, Twitch had recently been acquired by Amazon for $970 million, Amazons largest acquisition to date.
Founded in June 2011, Twitch primarily offers live streaming services for gamers and claims to have over 55 million monthly active users.
Dogecoin High School eSports League
The first match of the U.S. High School eSports League (HSEL) will offer a prize pool of 50,000 Dogecoins.
The chosen game is League of Legends, a very popular free-to-play online game. The league ran between September 20, 2014, and November 8, 2014, followed by a week-long playoff period. The finals were held on November 22, 2014.
More importantly, you can follow the matches live on twitch.tv! During the September 20th match, 50,000 Dogecoins were distributed, and as more people tuned in, the term "doge" spread. This sounds like an interesting experiment.
$446,000 Funding Round
On January 6, the team behind the popular Dogecoin tipping tool Dogetipbot announced that they had raised nearly $446,000 in seed funding.
This round was led by Blackbird Ventures, a venture capital firm based in Sydney, with additional investors including angel investors Scott and Cyan Banister.
Dogetipbot is a tool that allows users to send small tips in Dogecoin, supporting platforms like Reddit, Twitter, and Twitch. According to the Dogetipbot team, the service has processed over 650 million transactions to date.
International Payment Platform GoCoin Announces Support for Dogecoin
This move means that merchants using the platform will soon be able to accept payments in Dogecoin. GoCoin already supports Bitcoin and Litecoin.
Steve Beauregard, CEO of GoCoin, said, "We have carefully observed all the latest altcoins and chose Dogecoin as a viable payment option largely due to its social strength. Integrating Dogecoin into our platform brings us one step closer to enabling merchants to accept any digital currency, increasing sales and expanding their customer base."
"We expect to go live with Dogecoin in real-time within the next few weeks," he added.
US-Based Xidax Becomes First Company to Accept Dogecoin Payments
According to Forbes, Utah-based high-end PC manufacturer Xidax became the first company to accept Dogecoin as a payment method. Following the success of accepting Bitcoin payments, Xidax introduced Dogecoin payments in response to requests from the Dogecoin community.
Large Gift Card Exchange Site Supports Dogecoin Purchases
As more e-commerce sites started offering Dogecoin purchasing options for gift cards, large gift card exchange site EGifter.com began supporting Dogecoin purchases as well.
"A Day Without" Doctors Without Borders Dogecoin Gaming Fundraiser
This is a fundraising challenge centered around unity and gaming. It aims to raise enough funds to help Doctors Without Borders (MSF) treat victims of Ebola and improve living conditions in West Africa.
CheapAir Announces Acceptance of Dogecoin for Flight Bookings
On September 4, 2014, CheapAir announced that it would accept Dogecoin and Litecoin for flight bookings, following its acceptance of Bitcoin for flights and train tickets. Since adding Bitcoin payments, CheapAir reported total sales of $1.5 million in Bitcoin.
The "Bi Push" Dogecoin Tipping App
Following the appearance of the English-language tipping app dogetipbot, a domestic tipping app called Bi Push quickly gained popularity in the cryptocurrency community. Users can directly tip their favorite comments, celebrities, or Weibo accounts with Bi Push, creating a fun atmosphere of mutual tipping. The creator of Bi Push is reportedly developing a version for WeChat to facilitate tipping during traditional Chinese festivals, such as the Spring Festival.
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https://baike.baidu.com/item/%E7%8B%97%E5%B8%81
https://dogecoin.com/
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TZk4iBNoh98TlICPF6YF5MpEbO9ZVgH1rN04c0qwzkwD8JASc
