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HomeBUSINESSDogecoin, what you should know about the cryptocurrency of the people

Dogecoin, what you should know about the cryptocurrency of the people

If there is a cryptocurrency that is fashionable and that gives a lot to talk about, this is none other than Dogecoin.

And all because Elon Musk, Tesla’s mentor, has referred to her positively on Twitter. after, at the end of 2020, he also referred to her as the cryptocurrency of the people.

For this and other reasons, Dogecoin It is the virtual currency that you should know, since its fame does not stop growing and it has continuous exposure in the specialized digital press.

What is Dogecoin and how does this cryptocurrency work?

Dogecoin It is a type of cryptocurrency born at the end of 2013.

It came from the programmer’s hand Billy Markuswho worked as a programmer and engineer at IBM.

He needed someone to help him get cryptocurrency up and running, and he found an Adobe marketing employee named jackson palmer in which he trusted

You will recognize it by the image of a Japanese breed dog, of which a multitude of memes have been made, since the dog has somewhat unconnected phrases associated with it and with misspellings.

Dogecoin is nothing more than a derivation of a coin very well known as Litecoin. It is peer-to-peer and open source.

Transactions carried out through Dogecoin they are usually very fastsince his own mining program called Scrypt It is usually fast, at least if we take as reference the Bitcoin.

mine a Bitcoin It takes a time ranging from 10 minutes to 1 hour. The Dogecoin It usually takes less than 1 minute to mine.

What makes Dogecoin different from other cryptocurrencies

you should know that Bitcoin It is the reference and original cryptocurrency, of which 21 million units have been set to mine.

Nevertheless, Dogecoin surpasses ithence Musk’s words, since there are 139,000 million coins in operation, with the precision of going up.

Dogecoin It is not a cryptocurrency to use like others, but it has an interesting value. To begin with, it is not usually used like other currencies, but is used to pay for content on-line.

For example, tipping content creators or artists.

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The large number of units of Dogecoin It may be your weak point. With Bitcoin there is a limit, that of 21 million that has been set.

However, of Dogecoin it can be said that it has no limits. What makes valuable Bitcoin it is its relative scarcity, since something is priced very well when it is not abundant.

For that reason, the Dogecoin It may not be an interesting currency to make money investments, as it can be Bitcoin, but for what it has been designed, bargaining chip.

Although in the world of virtual currencies, there is something that is usually the usual trend, this is none other than the lack of common sense.

The fluctuations that this cryptocurrency has suffered, either thanks to Musk’s tweets or by the market itself, do not have as obvious an effect as in the Bitcoin.

Something that has a value at the beginning of 1 cent of the dollar and that happens to have 40, has no effect on a small investor or someone with a regular wallet.

The true meaning of this cryptocurrency

what dogecoin is used forAs we have been talking about, the creators of Dogecoin they think that the future of cryptocurrency is good and that it has hopeful prospects.

Yes Elon Musk and other relevant characters such as Snoop D.ogg o Gene Simmons continue to support Dogecoinparity with the dollar could even be expected.

But the true direction that the Dogecoin it is to be a useful service, an exchange currency that can make life easier for its users and not so much as a speculative asset.

And it is that Dogecoin He has managed to sponsor athletes in the United States, he has even supported charitable initiatives.

It is Dogecoin a different cryptocurrency?

What is evident is that Dogecoin It has come to experience increases of up to 6,000%, something practically unprecedented in the world of virtual currencies.

It has already achieved something very difficult, to stand out among the more than 8,000 cryptocurrencies that are currently circulating, which is not easy.

The shadow of Bitcoin is very long, but Dogecoin It is going with a firm step to fulfill a role that other currencies do not contemplate.

Continue reading: 5 Curiosities of cryptocurrencies that you will not believe

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