At the beginning of this year, "Dogecoin skyrocketed by more than 250% in one day" appeared on Weibo's hot search. This funny and cute dog once again appeared in the public eye and became the focus of attention of both insiders and outsiders. . Coupled with the blessing of Musk, the number one internet celebrity with goods in the universe, Dogecoin is well-deserved to become the "star of the currency circle" in the first half of 2021. In fact, Dogecoin became popular among young people in the United States very early. Interestingly, American young people call Bitcoin Old school (old school), and they think: "Old people buy Bitcoin, and we young people play with dogs. Dogecoin". It can be seen that young people love Doge at present. Today let us take a look at this Dogecoin, which is popular all over the world.
Dogecoin (Dogecoin or Dogecoin) was born on December 12, 2013. One of its founders is Jackson Palmer, a brand marketing expert from Australia who once served as a senior manager of Adobe, and the other is from Porter, Oregon, USA. Lanzhou programmer Billy Markus. Dogecoin is based on the Scrypt algorithm, making its transaction process more convenient than Bitcoin, with more issuances (can be infinitely overissued) and faster transfer speed. The confirmation time of Dogecoin is only 1 minute, while Bitcoin takes 10 minutes. At the same time, Dogecoin is also the second largest virtual currency in the world after Bitcoin in terms of users.
After the Dogecoin system was launched, it showed explosive development with the help of reddit. It took only two weeks to lay out a dedicated blog and forum. As of April 2021, the market value of Dogecoin has reached 2263 billion, the number of client addresses reached 3.29 million, and its market value doubled 2,000 times in six years. The number of fans on Reddit has grown rapidly from 1.2 million to 1.5 million in just one month, almost five times the number of Litecoin fans. The average daily trading volume ranks among the top three virtual currencies for a long time. The greatest value in the Internet era is the huge number of users. It took one year for the user base of Dogecoin to reach one-third of the number of Bitcoin users and four times that of Litecoin.
At present, Dogecoin has two main types of applications, namely rewards and charity.
Due to the low price of Dogecoin, coupled with the extremely lovable image of Shiba Inu, it is full of entertainment and topicality, and quickly won the favor of the majority of Internet users. It is often used as a reward currency for reddit and some live broadcasts. Especially under the prevailing tipping culture in the United States, people can reward the creators of high-quality content in the form of tipping, "like" meaningful content, and help valuable content to spread further on the Internet. For example, two tipping apps, Doge Tipping App and Multicoin Tipping App, have been approved by Facebook, and users can give rewards to comments on Facebook; announced that the company has accepted dogecoin (dogecoin) as its payment method for subscriptions. In addition, Dogecoin also has its own charity fund. It has funded countless charitable projects and helped many people realize their dreams. This is another reason why Dogecoin is so popular.
Rather than saying that Dogecoin is the next Bitcoin, it is better to say that Dogecoin is a bridge and tool that allows more people to get in touch with Bitcoin or encrypted assets. Since the current price of Bitcoin is too high, for beginners It is not very friendly, and it discourages many people. In contrast, Dogecoin is more friendly to the people in terms of price and its pleasing image. People can learn about Dogecoin first and then understand what Bitcoin is. How did you learn about Bitcoin? Welcome to leave a message to share with everyone!
