Created in late 2013 by Billy Markus of Portland, Oregon and Jackson Palmer of Sydney, Australia, Dogecoin is a cryptocurrency based on the ‘Doge’ Internet meme. It features a Shiba Inu as its logo. At the end of 2014, Dogecoin had about 100 billion coins in circulation. Dogecoin is a fork from Litecoin and has been producing an additional 5.2 billion coins every year after 2014. Both Markus and Palmer wanted to create a cryptocurrency that’s both fun and appealing to users beyond the hardcore Bitcoin audience. Dogecoin is used as a tipping system on the social media sites Reddit and Twitter, as a way to reward users for creating or sharing quality content. The Dogecoin community has been very active in its organization for fundraising events and other deserving community causes. It uses the scrypt hashing algorithm.
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