Dogecoin
What is Dogecoin? • Dogecoin is an open source peer-to-peer cryptocurrency. • It was launched in 2013. • Its logo is a popular meme of a Shiba Inu dog.
How Is Dogecoin Used?
• Dogecoin has been known for its charity donations and other good causes. • Social media users give dogecoin tips to other users for providing good content. • Dogecoin can be used to buy goods and services.
Dogecoin Technology • Doge cannot be mined by ASICs, and is only mineable by computers. • Dogecoin’s block time is 1 minute whereas Litecoin takes 2.5 minutes to add a block. • Its mining reward limit is 10,000 from 2015. Earlier reward limit was random. • In 2014, first Dogecoin ATM was launched in Vancouver.
Dogecoin Wallets
There are four types of Dogecoin wallets: • Software wallet • Online wallets • Paper wallets • Hardware wallets
• Software wallet: Dogecoin Core: It can take a long time to download. MultiDoge: This is a light. It means it stores enough information to use Dogecoin. • Online wallets: It allows you to use the Dogecoin blockchain without storing it on your computer.
• Paper wallets: These are printable wallets which is a secure way to store your Dogecoin. • Hardware wallets: These are removable hardware devices, like USB sticks. They can be quite expensive.
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