¿Qué es Dogecoin? (DOGE)

The Beginner’s Guide

So meme. Such coin. Wow.

Dogecoin is a cryptocurrency inspired by a popular meme known as Doge, a picture of a Shiba Inu dog accompanied by colorful Comic Sans phrases meant to convey its inner monologue.

Launched at the end of 2013, Dogecoin rose to popularity at a time when developers were just beginning to explore the possibilities afforded by Bitcoin’s (BTC) invention.

Indeed, its creation was an effort to bring personality and accessibility to the new technology, which helped propel Dogecoin into the center of industry conversation into 2014. 

More surprising, even to its creators, is that Dogecoin continues to enjoy an enthusiastic fan base and vibrant online community. To this day, its cryptocurrency, DOGE, is still exchanged, predominantly for tipping online content creators or for crowdfunding efforts.

One reason is that Dogecoin operates much like many other cryptocurrencies in that it offers users the ability to exchange value, over the internet, without traditional financial gatekeepers.

What is dogecoin doge

¿Quién creó el Dogecoin?

Dogecoin was launched in December 2013 by programmer Billy Markus and marketer Jackson Palmer who created the coin as sort of a joke based on the Doge meme. 

Palmer left the project in 2015, but Markus remains its lead developer even today.

Although it’s cloaked in a humorous veneer, Dogecoin’s developers have insisted over the years that they do take the project, and their responsibility to users, seriously. As evidence, the project would even embark on some notable experiments in cryptocurrency design. 

Dogecoin would also highlight the importance of community in crypto money systems, as its users have been behind some high-profile crowdfunding efforts, including raising $50,000 in DOGE to help send the Jamaican Bobsled Team to the 2014 Olympic Games. 

¿Cómo funciona Dogecoin?

El código de Dogecoin se copió inicialmente de una criptomoneda anterior (ahora desaparecida) llamada Luckycoin, que era a su vez una bifurcación de Litecoin (LTC).

De este diseño anterior, Dogecoin tomó prestado un algoritmo de consenso basado en Scrypt para hacer definir cómo la red de computadoras que ejecutan su software llega a un consenso sobre su historial de transacciones. 

Al igual que con Bitcoin, cualquier persona que ejecute el software de Dogecoin puede dedicar la potencia de su computadora a proporcionar este servicio, un proceso que a menudo se denomina "minería", a cambio de la oportunidad de recibir criptomonedas recién acuñadas.

Sin embargo, el experimento más notable de Dogecoin fue su política monetaria. Por ejemplo, ahora no hay límite en la cantidad de Dogecoin que el software puede acuñar.

Inicialmente, el suministro total de Dogecoin tenía un límite de 100.000 millones de DOGE, pero los desarrolladores lo eliminaron unos meses después del lanzamiento con el objetivo de hacer que su suministro de dinero fuera inflacionario.

Con el tiempo, esta abundancia de suministro desincentivaría a los mineros a proteger la blockchain de Dogecoin y, en 2014, su proceso de minería se integró con el de Litecoin. Esto significaba que cualquiera que minara Litecoin también podría minar Dogecoin sin trabajo adicional.

A Febrero de 2018, se han minado más de 113.000 millones de DOGE, y el software sigue emitiendo 5.000 millones de DOGE cada año. 

¿Por qué DOGE tiene valor?

Even after the fun and amusement of the initial Dogecoin idea wore off, the network’s currency supply continues to retain purchasing power and see use in online commerce. 

Like any cryptocurrency, Dogecoin has a floating exchange rate with other digital assets, and can similarly be bought, traded and exchanged for cash or physical goods. 

Still, Dogecoin continues to be most often used in online tipping over social networks like Reddit, where DOGE is exchanged between peers and content creators.  

¿Por qué usar DOGE?

Dogecoin’s biggest selling point continues to be its robust community of enthusiastic fans, known as Shibes, who often use the currency to tip content creators whose work they enjoy. 

Given its limitless supply, DOGE may be less attractive as an investment, but it remains a very real cryptocurrency in that it has value that can be stored or exchanged. 

As such, newcomers continue to find Dogecoin a less serious and more accessible entry point to the sometimes hostile communities that populate the cryptocurrency industry.

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