Dogecoin is a cryptocurrency that was created in 2013 by software developers Billy Markus and Jackson Palmer. Dogecoin is based on the popular internet meme of the Shiba Inu dog, which serves as the currency's mascot and logo.
Dogecoin was initially created as a joke, but it quickly gained a following and has since become a legitimate digital currency with a market capitalization of over $30 billion as of January 2022.
Dogecoin operates on a decentralized blockchain network, which means that transactions are recorded on a public ledger that is maintained by a network of nodes rather than a central authority.
Dogecoin transactions are processed using a proof-of-work algorithm, which requires users to solve complex mathematical puzzles in order to validate transactions and earn new coins.
Dogecoin has a block time of one minute, which means that new blocks are added to the blockchain every minute, allowing for faster transaction confirmations than other cryptocurrencies like Bitcoin.
Dogecoin has a strong online community that is known for its charitable giving and support of various causes, including funding for the Jamaican bobsled team and building wells in developing countries.
Dogecoin has been the subject of several high-profile endorsements from celebrities and business figures, including Tesla CEO Elon Musk and billionaire investor Mark Cuban.