in popularity. From its inception back in 2013,
where the currency received one million page
views on the day of its launch, to becoming the
second-most-tipped currency on the internet
(where consumers repay people for performing
good deeds, encouraging more consumers to
buy into the DOGE ecosystem). What’s even
more interesting about Dogecoin is that it had
a relatively low barrier to entry - you don’t need
to be an expert to get into the coin or spend
thousands of dollars in doing so.
Just like its rivals, Dogecoin’s main purpose is to
offer peer-to-peer transactions in a censorship-
resistant manner, and thanks to its purpose
of spreading goodwill and fun through the
cryptocurrency community, it’s built a name
for itself in doing so. Indeed, though it was
never the intention of its developers for the
currency to become mainstream or take on
Bitcoin, the truth is that the incredible interest
in the product in recent months has made that
a reality. Add in the fact that the currency can
be used in the same way as Bitcoin, sending
money to anyone internationally, and that more
vendors are now accepting the currency, and it’s
clear why it’s grown in value. On top of this, the
Dogecoin network is secure and offers real-time
consensus - for added peace of mind, hackers
would need to be able to control at least 51% of
the network’s hashing power to alter the state of
the blockchain, and because the currency has a
hash rate of 203.97 TH/s, the chances of that are
incredibly unlikely.
The currency works in the same way as Bitcoin,
give or take: according to founder Billy Markus,
the currency only took three hours to create.
In an interview, he said that he used the