Dogecoin is an open-source payment system launched in 2013. The altcoin is a fork of luckycoin, which was a fork of Litecoin. Dogecoin gets a lot of its features from litecoin and uses a PoW script mining algorithm similar to Bitcoin.
Bitcoin has a fixed supply whereas bitcoin rival dogecoin has no limit on supply and hence is not subject to any significant increase in price like other coins. Dogecoin's block size is less than that of its ancestor. It was originally developed using script algorithm. Hence, it was ASIC- resistant, but due to the exit of ASIC Miners for Script, it is no longer ASIC-resistant.
Dogecoin generate over 5,000,000,000 coins a year at the rate, which is subject to change. Doge is known to have the most strong community. Dogecoin Reddit has more than 90,000 shibes (the group name for their community members).
Dogecoin often touted as joke coin or meme coin as it is based on famous internet meme Shiba Inu dog. Doge was designed to be a fun currency to make transactions easier, and it was never intended to be something novel or serious. Still, irrespective of expectations, it has become one of the most promising cryptocurrency in the world.
Although it was not a cakewalk for Dogecoin in the cryptocurrency industry, it faced major backlash from experts and has had controversies. Doge was also excluded from Exodus wallet due to its slow development despite all that it managed to create a loyal community of users worldwide.
TheCoinRepublic is a leading Bitcoin, blockchain, Cryptocurrency, and altcoin News Provider. A one-stop solution for information and news related to Cryptocurrency. Writers on TheCoinRepublic follow ethical and creative standards to provide impartial news and most insightful content for our readers. You want to read more about us. You can reach us via the following contact details.