Hello My Steemain Friends ,

Dear friends, I am @aviral123 from India. How are you all, I hope you all are well. I am fine too . Today I am sharing my post with you in this community. Today I will share with you "What is Dogecoin and What makes Dogecoin valuable". I want to share my thoughts about this with you all. let's start

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The Dogecoin cryptocurrency was created to be a lightweight alternative, but it has firmly established itself and has become valuable. Dogecoin (DOGE) was created in 2013 as an alternative to traditional cryptocurrencies like Bitcoin. Dogecoin is abundant. 10,000 new coins are minted every minute. The name and Shiba Inu logo are based on a meme.

Who is the founder of Dogecoin

The creators of Dogecoin are Jackson Palmer and Billy Marcus. They initially designed the internet's favorite coin with a maximum cap of 100 billion DOGE. But this limit was removed after a few months of launch. There is now inflation in the supply of Dogecoin following this monetary policy change, generating 5 billion new DOGE every year.

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Dogecoin was considered an entertaining “memecoin” loved by its community. Dogecoin has become one of the ten largest cryptocurrencies by market cap. The total value of Dogecoin has exceeded $20 billion. There are many Dogecoins present in the world. Unlike Bitcoin, which was designed to be scarce and resistant to inflation.

According to statistics, as of April 2024, there were more than 140 billion DOGE in circulation, and miners create 10,000 more every minute. Launched in late 2013, Dogecoin began to attract an enthusiastic online community.

Elon Musk became the biggest supporter of the DOGE token. Retail traders banded together online in an effort to drive up the price of DOGE. It also got a big boost during the GameStop saga.

What makes Dogecoin valuable

Like any other asset or cryptocurrency, the market assigns value to DOGE based on supply and demand. Naturally, DOGE's rapidly rising price in 2021 attracted a lot of media attention. Because its prices increased by almost 7,000 percent.

When Dogecoin was launched in 2013, it was considered a joke coin. But right from the beginning, people's attraction towards it increased.

Dogecoin took a much more casual approach. Even though Dogecoin shares similarities with both Litecoin and Bitcoin, its unique key approach has defined DOGE as a user-friendly internet currency, perfect for micro-payments.

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Dogecoin is used to make payments and purchases. Miners are rewarded for their mining operations by earning Dogecoin. Which he can sell on any crypto exchange platform or store it in his wallet.

The use of scripts in Dogecoin's proof-of-work (POW) algorithm prevents miners from using ASICs.

Dogecoin can be mined with the computational power used by network participants to create new blocks and validate their transactions by solving their mathematical equations.

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How secure is the Dogecoin network

It is up to the miners to secure the Dogecoin network blockchain and validate the payments for transactions made through it. PoW rules are enforced through full nodes.

By solving the equation, a new block is generated, transactions are verified and permanently recorded, and miners are rewarded 10,000 DOGE.

Conclusion

As we understood, Dogecoin was designed as an alternative to Bitcoin. But gradually its popularity increased. Its adoption by celebrities including Elon Musk and Snoop Dogg pushed the coin's price to new heights. Dogecoin has built an incredibly strong and ever-growing community of users, promoters, and endorsers.

Greetings

Thankyou 🙏