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In todays episode of crypto riot we look at dogecoin and see if it’s worth adding to our cryptocurrency trading portfolio.
Any computer mining with the scrypt algorythm can mine dogecoin at the same time without taxing its resources. So anyone mining litecoin can mine dogecoin at the same time without impact performance. Making the doge network very secure.
Dogecoin was created by programmer Billy Markus from Portland, Oregon, who hoped to create a fun cryptocurrency that could reach a broader demographic than bitcoin. In addition, he wanted to distance it from the controversial history behind bitcoin, mainly its association with the Silk Road online drug marketplace. At the same time, Jackson Palmer, a member of Adobe Systems’ marketing department in Sydney, was encouraged on Twitter by a student at Front Range Community College to make the idea a reality
April 2015 Jackson Palmer announced he is taking an “extended leave of absence” from the cryptocurrency community.
Compared with other cryptocurrencies, Dogecoin has a fast initial coin production schedule: 100 billion coins have been in circulation by mid 2015 with an additional 5.256 billion coins every year thereafter. As of 30 June 2015, the 100 billionth Dogecoin has been mined.While there are few mainstream commercial applications, the currency has gained traction as an Internet tipping system, in which social media users grant Dogecoin tips to other users for providing interesting or noteworthy content. Many members of the Dogecoin community, as well as members of other cryptocurrency communities, use the phrase “To the moon!” to describe the overall sentiment of the coin’s rising value. Thanks to crowdfunding efforts, a gold coin representing the cryptocurrency is scheduled to reach the Moon’s surface in 2019