What is the history of Dogecoin?
Jan. 23, 2023, 8:47 p.m.
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Dogecoin was created in 2013 by Billy Markus and Jackson Palmer, two software engineers from IBM. The currency was initially intended as a joke - its mascot is the Doge meme, an internet-famous Shiba Inu dog whose image has been widely used to convey humorous messages.
However, despite its comical origins, Dogecoin quickly gained traction among cryptocurrency enthusiasts and became popular among people who wanted to make small payments online without using traditional currencies or credit cards. By mid-2018, it had become one of the top 10 digital currencies by market capitalization and boasted a thriving community of users on social media sites such as Reddit and Twitter.
The first major application for Dogecoin came when members of the community raised funds to sponsor NASCAR driver Josh Wise during his 2014 race season. This event catapulted Dogecoin into mainstream consciousness and helped establish it as a legitimate form of digital money that could be used for more than just jokes or memes.
Since then, other applications have arisen which use Dogecoin’s blockchain technology (the same underlying technology behind Bitcoin) in order to facilitate transactions between different parties with greater security than can be achieved through traditional payment methods like banks or PayPal accounts. For example, many merchants now accept Dogecoin payments directly on their websites while some companies are even developing services specifically designed around the use of this particular cryptocurrency.
Dogecoin continues to grow in popularity today due both to its strong user base and its low transaction fees relative to other digital currencies like Bitcoin Cash or LiteCoin – making it ideal for those looking for quick transfers with minimal cost involved