dogecoin runs on which blockchain
 
 
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Dogecoin started as a joke & is now the world’s 4th-largest cryptocurrency. Thank Elon Musk
An Introduction to Dogecoin, The Meme Cryptocurrency
Dogecoin: The origin story of the Elon Musk supported cryptocurrency
Dogecoin (DOGE)
What Is Dogecoin And How Does It Work? – Forbes Advisor
Dogecoin (DOGE) Definition
 
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Dogecoin (DOGE)
Dogecoin is a cryptocurrency created by software engineers Billy Markus and Jackson Palmer, who decided to create a payment system as a joke, making fun of.
Bitcoin is (some believe) world-changing tech with the potential to transform how money works in the 21st century. Dogecoin is a digital coin.
But there is more to dogecoin's record price run than just celebrity.
Trust in bitcoin has grown with institutional and retail investors during its year run, which led to the cryptocurrency selling for record high prices.
Dogecoin is a cryptocurrency that runs on blockchain technology, similarly to Bitcoin and Ethereum. Blockchain is a distributed, secure digital.
Dogecoin can potentially have an infinite supply, unlike Bitcoin buildup by Dogecoin enthusiasts in the run-up to Musk's appearance as a.
Skycoin operates as an ecosystem of blockchain technology that is powered by its native SKY cryptocurrency and the Obelisk consensus algorithm.
Like Bitcoin and Ethereum, Dogecoin runs on blockchain technology which is a decentralised, secure digital ledger that stores all transactions.
As cryptocurrency goes wild, fear grows about who might get hurt. Cryptocurrency's extraordinary run has attracted hordes of new investors.
Dogecoin, a cryptocurrency that started as a joke in , has seen its.

Dogecoin: The origin story of the Elon Musk supported cryptocurrency
New Delhi: Dogecoin, created in 2013 as a joke for crypto enthusiasts, has emerged as the fourth-largest cryptocurrency by market cap, according to CoinMarketCap data. ThePrint explains how Dogecoin was created, its current status and how Musk was integral to its meteoric rise. Like Bitcoin and Ethereum, Dogecoin runs on blockchain technology which is a decentralised, secure digital ledger that stores all transactions made using the digital currency. The cryptocurrency was meant to be a satirical alternative to the hype around Bitcoin. A Dogecoin faucet is a website that offers a small amount of Dogecoin for free as an introduction to the currency, after which you can begin interacting in Dogecoin communities. In March, Musk made waves when he tweeted that Tesla vehicles can be bought using Bitcoin. On 4 February, Dogecoin surged more than 50 per cent after Musk tweeted his support for it. Jindal University, explained how Dogecoin is inflationary by design. He added that most of the surge in valuation of cryptocurrency can be explained by exogenous events, such as the role of Musk. Two charts. Ripple in 2017, Doge today. Also read: Energy guzzling Bitcoin is an incredibly dirty business. India needs free, fair, non-hyphenated and questioning journalism even more as it faces multiple crises. But the news media is in a crisis of its own. There have been brutal layoffs and pay-cuts. The best of journalism is shrinking, yielding to crude prime-time spectacle. ThePrint has the finest young reporters, columnists and editors working for it. Sustaining journalism of this quality needs smart and thinking people like you to pay for it. Whether you live in India or overseas, you can do it here. Support Our Journalism. Thursday, 3 June, 2021. Sign in. Forgot your password? Get help. Privacy Policy. Password recovery. How to use 50 trillion Shiba Inu in Covid-hit, crypto-wary India. Most Popular. Modi, state government, destiny. Modi has a new Arvind Kejriwal to deal with. All rights reserved.
You might be using an unsupported or outdated browser. To get the best possible experience please use the latest version of Chrome, Firefox, Safari, or Microsoft Edge to view this website. Despite this unusual origin story, it has exploded in popularity in 2021—as of writing, Dogecoin has become the fifth largest cryptocurrency by market cap. We've combed through the leading exchange offerings, and reams of data, to determine the best crypto exchanges. Dogecoin is a cryptocurrency that runs on blockchain technology, similarly to Bitcoin and Ethereum. Blockchain is a distributed, secure digital ledger that stores all transactions made using a decentralized digital currency. All holders carry an identical copy of the Dogecoin blockchain ledger, which is frequently updated with all new transactions in the cryptocurrency. In exchange for processing transactions and supporting the blockchain ledger, miners earn additional Dogecoin, which they can then hold or sell on the open market. This is chiefly because there is no lifetime cap on the number of Dogecoins that may be created by mining—meaning that the cryptocurrency is highly inflationary , by design. The blockchain rewards miners for their work by creating millions of new Dogecoins every day, which makes it very challenging for speculative price gains in Dogecoin to hold up over time. Dogecoin has a few significant differences compared to Bitcoin. Another significant difference is the absence of any lifetime cap on the number of Dogecoins that can be created, as we noted above. There is a lifetime cap of 21 million Bitcoin that limits the maximum possible number of coins that can be created. You can buy Dogecoin on a cryptocurrency exchange like Binance or Kraken. The exchanges require you to set up and fund an account with U. You then are able to buy and exchange cryptocurrencies, including Dogecoin. Notably, leading crypto exchange Coinbase does not support purchases of Dogecoin. Some online brokers , including Robinhood and TradeStation, also allow you to buy Dogecoin—in addition to conventional assets like stocks, mutual funds and bonds. You secure the wallet with a private password. Before Dogecoin broke out into the mainstream and rocketed higher in price, you used to be able to earn free coins for doing basic tasks online. Since there is no lifetime limit on the number of Dogecoins that can exist, and millions of new Dogecoins are released onto the markets every single day, there is very little incentive to hold the cryptocurrency for the long term. The gains in Dogecoin that have been seen in 2021 may not be sustainable over the longer term. Those who bought Dogecoin to start 2021 have been well rewarded. Still, White is a little wary about buying Dogecoin, especially as an investment. White also warned about additional security risks for Dogecoin, compared to other major cryptocurrencies. Buying any sort of cryptocurrency involves risk, and that includes Dogecoin. David is a financial writer based out of Delaware. He specializes in making investing, insurance and retirement planning understandable. Before writing full-time, David worked as a financial advisor and passed the CFP exam. With two decades of business and finance journalism experience, Ben has covered breaking market news, written on equity markets for Investopedia, and edited personal finance content for Bankrate and LendingTree. Select Region. United States. United Kingdom. David Rodeck, Benjamin Curry. Contributor, Editor. What is Dogecoin? Dogecoin might be my fav cryptocurrency. Learn More. Guides To Investing. Investing 101. Forbes Advisor adheres to strict editorial integrity standards. To the best of our knowledge, all content is accurate as of the date posted, though offers contained herein may no longer be available. David Rodeck Contributor. Benjamin Curry Editor. The Forbes Advisor editorial team is independent and objective. First , we provide paid placements to advertisers to present their offers. While we work hard to provide accurate and up to date information that we think you will find relevant, Forbes Advisor does not and cannot guarantee that any information provided is complete and makes no representations or warranties in connection thereto, nor to the accuracy or applicability thereof. Are you sure you want to rest your choices?
They wanted to create a peer-to-peer digital currency that could reach a broader demographic than Bitcoin. Palmer is credited with making the idea a reality. At the time, he was a member of the Adobe Systems marketing department in Sydney. Markus reached out to Palmer after seeing the site, and started efforts to develop the currency. Markus had designed Dogecoin's protocol based on existing cryptocurrencies Luckycoin and Litecoin , [14] which use scrypt technology in their proof-of-work algorithm. On December 25, 2013, the first major theft of Dogecoin occurred when millions of coins were stolen during a hack on the online cryptocurrency wallet platform Dogewallet. To help those who lost funds on Dogewallet after its breach, the Dogecoin community started an initiative named "SaveDogemas" to help donate coins to those who had them stolen. Approximately one month later, enough money was donated to cover all of the coins that were stolen. In January 2014, the trading volume of Dogecoin briefly surpassed that of Bitcoin and all other crypto-currencies combined, however, its market capitalization remained substantially behind that of Bitcoin. Initially, Dogecoin featured a randomized reward that is received for each mining block, however, in March 2014 this behaviour was later updated to a static block reward. In April 2021, Dogecoin and other cryptocurrencies surged, stimulated in part by the direct listing for cryptocurrency exchange Coinbase on April 14, although that platform did not provide trading of Dogecoin. On May 9, 2021, SpaceX announced a rideshare mission to the Moon completely funded by Dogecoin, thus becoming the first space mission funded by a cryptocurrency. Dogecoin is an altcoin with many users. Mainstream commercial applications of the currency have gained traction on internet, such as a tipping system, in which social media users tip others for providing interesting or noteworthy content. Dogecoin has also been used to try to sell a house, [44] and has been used in the pornography [45] and poker industries. Dogetipbot was a cryptocurrency transaction service used on popular sites like Reddit and Twitch. It allowed users to send Dogecoins to other users through commands via Reddit comments. In May 2017 Dogetipbot was discontinued and taken offline after its creator declared bankruptcy; this left many Dogetipbot users losing their coins stored in the Dogetipbot system. DeFi decentralized finance is a form of finance that does not rely on middlemen such as brokerages , exchanges , or banks to offer financial instruments. While Dogecoin cannot interact with smart contracts directly given that it operates on its own chain, the coins can be "wrapped" so that they can be locked into a state that is interoperable with a contract until it is later released. Most DeFI coins use the ethereum blockchain network. An example of a Dexs is Uniswap ; these are entirely peer-to-peer exchanges, without any company or other institution providing the platform. Dogecoin started with a supply limit of 100 billion coins, which would have been far more coins than the top digital currencies were then allowing. By mid-2015 the 100 billionth Dogecoin had been mined with an additional 5 billion coins put into circulation every year thereafter. Although there is no theoretical supply limit, at this rate, the number of Dogecoins put into circulation will only double in 20 years the next doubling will occur in the year 2075. There is no implemented hard cap on the total supply of Dogecoins. Nonetheless, in February 2014, Dogecoin founder Jackson Palmer announced that the limit would be removed in an effort to create a consistent reduction of its inflation rate over time. Dogecoin's block time is 1 minute as opposed to Litecoin's 2. Several cases of people using their employers' or universities' computers to mine Dogecoin have been discovered. The Dogecoin community and foundation have encouraged fundraising for charities and other notable causes. Inspired by the Winter Olympics fundraiser and smaller charity fundraising successes, the Dogecoin Foundation, led by Eric Nakagawa , began collecting donations to build a well in the Tana river basin in Kenya in cooperation with Charity: Water. On March 25, 2014, the Dogecoin community successfully raised 67. Nicknamed the "Moonrocket", [55] the No. He finished the race in fifteenth, the last car running. McLeod Motorsports announced that Dogecoin would be sponsoring the No. Coincidentally, his father Phil was the owner of the team that fielded the original Dogecoin-sponsored car in 2014. Dogecoin's origin as a joke has made it difficult to be taken seriously by mainstream media and financial experts. The cryptocurrency has had a long and problematic history of scams. The Daily Dot. Retrieved 2018-12-21. Just Ask Doge". The New York Times. ISSN 0362-4331. Retrieved October 3, 2017. Accessed 28 December 2017. Dogecoin is the most Internet thing to happen, ever". Digital Trends. Retrieved December 12, 2013. Sydney Morning Herald. Retrieved April 5, 2014. Australian Broadcasting Corporation. Retrieved May 10, 2021. Retrieved 2021-02-12. Vice Media. Retrieved December 23, 2013. Junkee Media. Retrieved January 12, 2021. Jackson Palmer accidentally invented Dogecoin in early December... Business Insider. Retrieved December 19, 2013. International Business Times. Retrieved December 20, 2013. Retrieved 2014-02-16. Retrieved December 10, 2013. Retrieved 21 September 2019. DogeCoin fetches 300 percent jump in value in 24 hours". Retrieved December 22, 2013. Retrieved December 26, 2013. Many Dogecoin. Very Disappear. So Gone. Retrieved December 25, 2013. Los Angeles Times. After Dogewallet heist, Dogecoin community aims to reimburse victims". December 27, 2013. Retrieved March 2, 2014. Retrieved July 9, 2020. Retrieved 29 January 2021. Retrieved 21 February 2021. Retrieved 2021-04-17. The Wall Street Journal. Retrieved 2021-04-14. New Delhi. How a joke became hotter than bitcoin". Retrieved May 15, 2021. Al Jazeera. May 10, 2021. Retrieved 2021-05-10. Retrieved 9 May 2021. Retrieved March 4, 2015. The Verge. Retrieved December 16, 2013. Duaine Hahn December 16, 2013. Complex Tech. Retrieved March 17, 2014. February 27, 2014. Retrieved September 9, 2017. May 4, 2021. Ars Technica. Retrieved February 4, 2014. Retrieved June 13, 2014. The Guardian. Retrieved 21 February 2020. NBC News. Retrieved February 2, 2014. IB Times. Retrieved May 25, 2014. NBC Sports. Retrieved March 26, 2014. Retrieved May 6, 2014. USA Today. Retrieved May 18, 2014. May 18, 2014. To learn more: t. Here's How It Doesn't Work". Financial Times. Proof of authority Proof of personhood Proof of space Proof of stake Proof of work. Ethereum Ethereum Classic. Auroracoin Bitconnect Coinye Dogecoin Litecoin. Bitcoin Gold Zcash. Dash Petro. Cardano EOS. Category Commons List. Anarchism portal Business and economics portal Economics portal Free and open-source software portal Internet portal Money portal Numismatics portal. Namespaces Article Talk. Views Read View source View history. Help Learn to edit Community portal Recent changes Upload file. Download as PDF Printable version. Wikimedia Commons. Dogecoin Logo. December 6, 2013 ; 7 years ago 2013-12-06. MIT License [1].
June 22, 2014. Jackson Palmer, a self-identified "average geek," is high in the stands at a Nascar race at the Sonoma Raceway in California. He is an Australian man in his 20s. He has zero interest in racing. Never in his wildest dreams did he imagine it would come to this. Below him: a tremendous crowd. The overwhelming blare of engines. Hurtling round at tremendous speeds: the 98 Moonrocket, a high-performance racing car. On the bonnet of the car: a dog. A Shiba Inu, more commonly known as a "Shibe," the dog made famous in the Doge meme that was popular in 2013. Below: "digital currency". Palmer describes the situation using words like "crazy," "surreal" and "nuts. Six months later, he watched as a joke that he'd made in passing somehow manifested itself into something tangible. A Dogecar in full flight. Dogecoin is a cryptocurrency , a form of digital money that, much like bitcoin , enables peer-to-peer transactions across a decentralized network. One important difference: bitcoin is the original blockchain proof-of-concept. Bitcoin is ground-breaking. Bitcoin is some believe world-changing tech with the potential to transform how money works in the 21st century. I really think it has to do with being established early. If you've spent any time on the internet during the last decade, you've probably heard of the Doge meme. The iconic Shibe, his inner monologue expressed in comic sans with broken modifiers: "so scare," "much noble," "wow. At the peak of the meme's popularity near the tail end of 2013, Palmer, an Australian marketer for one of the world's largest tech companies, made a joke combining two of the internet's most talked-about topics: cryptocurrency and Doge. It was a joke taking aim at the bizarre world of crypto and bitcoin's multiple derivatives. For laughs, Palmer decided to keep the joke going. He bought the Dogecoin. He'd just finished "Bells", a project he was working on in his spare time. Bells was a cryptocurrency named after money used in the Nintendo game Animal Crossing. It was 2013, the original crypto gold rush. Markus saw that bitcoin's code was open-source. He decided to take a weekend and do something weird. He tried to create his own cryptocurrency for "sillies," as he put it. Bells was weird as hell. The major difference between Bells and regular cryptocurrencies was the rewards: they were completely random. If you mined bitcoin, using a decently powerful home computer, the rewards were consistent. If you mined Bells, there was no telling whether the reward would be one Bell or 500 Bells. And that's because Bells wasn't meant to be serious, it was a digital currency based on a video game about animals who live in a village and go fishing together. But then Markus read Palmer's message on Dogecoin. That was the moment Billy Markus decided to come out of crypto retirement. When Palmer didn't immediately respond to Markus' offer to help build Dogecoin, he started working on it anyway. It's almost trivial to create a new cryptocurrency. Markus freely admits to finding large chunks of bitcoin's source code completely incomprehensible, but knew enough to change a few core elements for Dogecoin. For example, Markus created 100 billion dogecoins as opposed to bitcoin's 21 million and made them easier to mine. Dogecoin is already close to being mined out, while bitcoin's final coin will be mined in 2140. He changed the font to comic sans of course and changed every mention of the word 'mine' to 'dig' because dogs don't mine, they dig... Premining: the act of gathering cryptocurrency before launching your coin into the public domain. Almost everyone serious about launching a cryptocurrency does this. But Markus and Palmer didn't premine any Dogecoin. Because they weren't serious about launching a cryptocurrency. Markus had a relatively powerful gaming PC, with two graphics cards, so he was officially the first person to mine Dogecoin. But given the the nature of mining which gets increasingly difficult as the currency is mined Billy's computer was no longer powerful enough to mine Dogecoin after about five minutes. Markus split what he'd mined 50-50 with Palmer and that was that. In online crypto circles, Dogecoin became popular very quickly. Forum threads moved rapidly. The name Dogecoin echoed throughout dark corners of the internet. But Reddit was almost certainly the main driver in Dogecoin's rapid rise to crypto stardom. The Dogecoin subreddit exploded almost immediately, and with that explosion came the infrastructure any cryptocurrency needs if it is to become successful: mining pools, services. If a user posted something to the effect of, "hey 'dogebot' tip this person five dogecoin," that Reddit user would automatically receive five Dogecoin. People were sending Dogecoin back and forth in a feel-good exercise that cost very little money in real-world terms. Reddit users were sharing Dogecoin back and forth constantly, which expanded the user base of Dogecoin and, as a result, increased its value as a cryptocurrency. January 2014. Jackson Palmer is already three drinks deep at a trivia night at his local pub in Sydney. His phone starts buzzing. It doesn't stop buzzing. Earlier that night, Palmer and the Dogecoin community had brainstormed a ridiculous but completely brilliant idea. For the first time in a decade, Jamaica's bobsled team had qualified for the Winter Olympics, but it didn't have enough money to attend. As huge fans of the comedy " Cool Runnings ," Palmer and the Dogecoin crew decided to do something about it. They chucked up a Dogecoin address onto the subreddit and asked for donations. In Markus' words, they were allergic to the word "invest. They helped build water wells in Kenya and raised money to help train assistance dogs for autistic children. But as the community grew, the initial spirit in which Dogecoin was launched was difficult to preserve. People started to care about the price of Dogecoin. They were literally and figuratively invested in it. That makes me really, really uncomfortable. Markus began clashing with members of the community. For him, Dogecoin was still crypto "for sillies," but here it was ballooning into a currency people were trading for real money. In his view Dogecoin was a silly thing that should remain silly. Many in the community disagreed. Run by a British man calling himself Alex Green, Moolah was a cryptocurrency exchange designed to help people buy and sell Dogecoin. They infiltrated the Dogecoin community with startling efficiency. Alex Green began by doling out Dogecoin in exchange for upvotes on the Dogecoin subreddit. The community loved it. He wanted to catch up with some of the old gang. They poured a glass for Markus. But when concerns were raised they were mostly shouted down by a community that enjoyed the free currency being sent their way. Later Moolah began soliciting the Dogecoin community for investment dollars and plenty donated Dogecoin to the cause. Why not? Moolah had been generous in the past. It made sense to repay the favor. Months later, October 2014, Moolah went completely bankrupt. The Dogecoin community would end up losing every single cent they'd invested. The situation got worse. An ex-girlfriend of Green got in contact with Palmer and other members of the Dogecoin community. She revealed that Green was actually Ryan Kennedy, who was notorious in the UK anime community for running companies terrifyingly similar to Moolah. Suddenly the UK police were involved. After a three-year investigation, Kennedy faces multiple charges of fraud and money laundering. At a preliminary hearing in Bristol Crown Court on September 2017 he denied all charges. A request for comment was sent to Kennedy's Defence Lawyer, but we've yet to receive a response. But Kennedy had to answer to more serious, disturbing crimes. In May 2016, he was tried and convicted on three counts of rape with three separate women. In the months after Moolah's bankruptcy, Palmer struggled. Palmer has re-emerged on the cryptocurrency scene. He now runs his own YouTube channel. He has no interest in launching another cryptocurrency and has little to do with Dogecoin. He calls himself a crypto skeptic. It's a reminder that we can't take this stuff seriously. Because right now there's a dog on a coin and it's worth half a billion dollars. Outside of the occasional donation, neither Palmer or Markus owns any significant amount of Dogecoin. Back in January 2014, Markus posted a message on the Dogecoin subreddit; an ode to the community and what it had achieved. One year later, in the wake of the Moolah disaster, it had been reposted. An attempt to recapture the spirit in which Dogecoin had been founded. He wrote about how proud he was -- of the community, of the money they'd raised for various good causes. He thanked everyone for the incredible amount of work they'd put in. Be respectful, keep it civil and stay on topic. We delete comments that violate our policy , which we encourage you to read. Discussion threads can be closed at any time at our discretion. Dogecoin: The origin story of the Elon Musk supported cryptocurrency Before Elon Musk, Dogecoin was an elaborate prank taken to the extreme. Mark Serrels. May 8, 2021 8:49 p. He surveys the scene. It reminded Palmer how insane the world could be. This is the story of Dogecoin, the joke that became too real for its own good. The Dogecar, in all its glory. Dogecoin is a digital coin with a picture of dog on it. Blockchain Decoded Blockchain explained: It builds trust when you need it most What is bitcoin? Here's everything you need to know Bitcoin: Big in investing, but still lousy for buying a sandwich YouTube star wants a cryptocurrency payday for you every day. Now playing: Watch this: Dogecoin explained: The joke cryptocurrency worth serious... Stay in the know. Now playing: Watch this: What the heck is blockchain? Enlarge Image. Now playing: Watch this: Cryptojacking: The hot new hacker trick for easy money. Discuss: Dogecoin: The origin story of the Elon Musk supported cryptocurrency.
Dogecoin DOGE is a peer-to-peer, open-source cryptocurrency. It is considered an altcoin and an almost sarcastic meme coin. Launched in Dec. While it was created seemingly as a joke, Dogecoin's blockchain still has merit. Notable features of Dogecoin, which uses a scrypt algorithm , are its low price and unlimited supply. Dogecoin started as something of a joke, but after it was created, it gained a following. By late 2017, it was participating in the cryptocurrency bubble that sent the values of many coins up significantly. Users can buy and sell Dogecoin on digital currency exchanges. They can opt to store their Dogecoin on an exchange or in a Dogecoin wallet. Palmer has been described as a "skeptic-analytic" observer of the emerging technology, and his initial tweets about his new cryptocurrency venture were done tongue-in-cheek. But after getting positive feedback on social media, he bought the domain dogecoin. Meanwhile in Portland, Oregon, Billy Markus, a software developer at IBM who wanted to create a digital currency but had trouble promoting his efforts, discovered the Dogecoin buzz. Markus reached out to Palmer to get permission to build the software behind an actual Dogecoin. Dogecoin uses Litecoin's scrypt technology and is a proof-of-work coin. Palmer and Markus launched the coin on Dec. Two weeks later on Dec. Dogecoin marketed itself as a "fun" version of Bitcoin with a Shibu Inu Japanese dog as its logo. Dogecoin's casual presentation suited the mood of the burgeoning crypto community. Its scrypt technology and unlimited supply was an argument for a faster, more adaptable, and consumer-friendly version of Bitcoin. Every four years the amount of Bitcoin released into circulation via mining rewards is halved and its inflation rate is halved along with it until all coins are released. In Jan. The freewheeling fun of Dogecoin lost some of its mirth in 2015 as the crypto community, in general, started to grow more serious. One member of that toxic community was Alex Green, a. Ryan Kennedy, a British citizen who created a Dogecoin exchange called Moolah. Separately, Kennedy was convicted in 2016 of multiple counts of rape and sentenced to 11 years in prison. Dogecoin's value skyrocketed with the rest of the cryptoverse during the bubble that peaked at the end of 2017, and it fell with the rest of the cryptoverse over 2018. In the summer of 2019, Dogecoin saw another bump in value along with the rest of the crypto market. Dogecoin enthusiasts were happy when the crypto exchange Binance listed the coin, and many thought Tesla CEO Elon Musk had endorsed the coin in a cryptic tweet. Dogecoin's infrastructure has not been a central source of concern for the coin's developers, however, who are still volunteers. One reason it still continues to operate and trade, however, is its active community of miners. As of Dec. New York Times. Just Ask Doge. Digital Trends. NBC Sports. Your Money. Personal Finance. Your Practice. Popular Courses. Table of Contents Expand. What Is Dogecoin? Understanding Dogecoin. The History of Dogecoin. Dogecoin in the 2020s. Dogecoin initially started as a joke based on a popular meme featuring a Shiba Inu a Japanese breed of dog. It is based on Litecoin and has the same technology behind its proof-of-work. Dogecoin has a loyal community of supporters who trade it and use it as a tipping currency for social media content. Article Sources. Investopedia requires writers to use primary sources to support their work. These include white papers, government data, original reporting, and interviews with industry experts. You can learn more about the standards we follow in producing accurate, unbiased content in our editorial policy. Compare Accounts. Launched in the year 2011, Litecoin is an alternative cryptocurrency based on the model of Bitcoin. Altcoin An Altcoin is an alternate cryptocurrency other than Bitcoin. Learn about Altcoins, how they work, and which are the most popular. What is Skycoin SKY? Skycoin operates as an ecosystem of blockchain technology that is powered by its native SKY cryptocurrency and the Obelisk consensus algorithm. Bitcoin Bitcoin is a digital or virtual currency created in 2009 that uses peer-to-peer technology to facilitate instant payments. It follows the ideas set out in a whitepaper by the mysterious Satoshi Nakamoto, whose true identity has yet to be verified. Potcoin Digital Currency Potcoin digital currency allows for anonymous cannabis transactions and started due to regulators and financial institutions' slow adaption to the economic change of legalization. Partner Links. Related Articles. Bitcoin Bitcoin vs. Litecoin: What's the Difference? Bitcoin What Determines the Price of 1 Bitcoin? Investopedia is part of the Dotdash publishing family.