Dogecoin is considered a "Clones" of the Bitcoin and is being used popularly in many countries around the world including Vietnam. A virtual currency with great value and market capitalization, it is among the Top 20 most developed virtual currencies today. Dogecoin is emerging as the smart investment solution of many digital currency enthusiasts. So exactly What is dogecoin? History was born and its development like? What are the applications of Dogecoin? Let's Virtual Money Blog Find out below.
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What is dogecoin?
Dogecoin (DOGE) is a cryptocurrency or digital currency developed based on Litecoin (See more: What is litecoin?). Dogecoin virtual money was created based on the meme "Doge". Dogecoin launched on the currency market on December 8, 12, it has a faster initial coin creation rate than other digital currencies. By the end of 2013, nearly 2014 billion Dogecoin were circulated in the market. After that, 100 billion cents will be generated annually. As of February 5,2, 1, over 2 billion coins were mined.
Although Dogecoin There are quite a few commercial applications, the currency is primarily used to give tips online online after someone posts useful or interesting information on online communities. Dogecoin's symbol is ETH in Icelandic, meaning capital of Ð, not Đ in Vietnamese as many people think.
What is the history of virtual Dogecoin?
A former IBM programmer Billy Markus of Portland invented Dogecoin on December 8, 12. At first he experimented with another of his own digital currencies, "Bells" based on Nintendo's Animal Crossing Series. He expects the currency to grow to users other than investors who have created the Bitcoin economy and have not had the same controversy as Bitcoin in history.
On December 19, the value of Dogecoin increased by 12% in just 300 hours, from $ 24 to $ 0.00026 with a daily trading volume of hundreds of bitcoins, when Bitcoin and other virtual currencies were plunging. China made a decision to ban banks from investing RMB into Bitcoin. On December 0.00095, the world witnessed Dogecoin's first sharp drop with a 22% drop in value because large pools took advantage of low computational power requirements to dig. Dogecoin at that moment.
On January 19, 01, a fundraising program was created by Dogecoin developers to donate $ 2014 to the jamaica ski team because they were qualified but did not have enough money to attend the Olympic Games in the season. Sochi east. In just 30.000 days later, the program has reached its goal of 2 USD, and pushed Dogecoin / Bitcoin exchange rate increase by 50%. Then plus Dogecoin continue to raise for the second Sochi Olympic athlete Shiva Keshavan.
Dogecoin applications and transactions
Currently, there are quite a number of exchanges in the world that support DOCE / LTC and DOGE / BTC conversion, the only one that allows DOGE / CNY exchange is Bter. On January 8, 1, the Altquick.co exchange started to convert DOGE / USD and became the first exchange to exchange DOGE into USD.
Then, on January 30, 1, Canadian-based Vault of Satoshi officially announced the support for DOGE / CAD and DOGE / USD conversion. On the first day of trading, Dogecoin is the major trading digital currency after Bitcoin. On January 2014, 31, the trading volume on major exchanges reached USD 1 million. Dogecoin's market capitalization was 2014 million USD. Most deals Dogecoin virtual currency is implemented on 3 exchanges: Cryptsy (23%), Bter (60%) and Vircurex (10%). In which, the 3 most exchanged currency pairs are DOGE / CNY (44%), DOGE / BTC (50%), DOGE / LTC (6%).
What is the trading method of Dogecoin?
Dogecoin Works based on public password encryption. Each DOGE transaction address will have a personal password and a public password. Only a private password can decrypt the encrypted data that comes with the public password, thus ensuring safety even when the public password is widely shared. Dogecoin addresses are public passwords that are 34 characters long and start with the letter "D".
For example: Address of Dogecoin Foundation: 9yWaGSkCHJrHPavKmT6wksCjjv1wj5d5Gu
The value of digital money Dogecoin
At time Virtual money blog If writing this article, the price of 1 DOGE = $ 0.001124 is equivalent to 0.00000063 BTC, the market capitalization of DOGE is $ 123,005,209 or 69,000 BTC. this is a virtual currency has the potential to invest and is also accepted by many countries as a valid currency. But recent positive news about Dogecoin has made the currency exchange rate increasingly high.
That is Virtual money blog shared with you the article "What is dogecoin? Learn about what Doge Coin virtual currency (DOGE) is?”As well as the history of creation, applications, transaction methods and value of this digital currency. Hopefully the article will bring really useful information to readers. The concepts and information in the post will be quite abstract for beginners, so if you have any questions, please leave it below the comment section.
Posts are referenced from en.wikipedia.org