History Of Dogecoin : From a Meme Coin To A Crypto With 8000% Return
Everything in the world is entwined with each other and the crypto industry is not an exception. We need to look at the evolution of bitcoin while talking about dogecoin. Bitcoin might have been invented in the year 2009 but it gained people's attention and transformed as the king in the year 2013.
Forbes Featured, 2013 - year of Bitcoin. At those times, the price of the BTC has surpassed the price of gold which created the strong momentum, not only for bitcoin but also for the Crypto Industry.
When the world started admiring bitcoin, Two Amusers got ready to create fun in the million dollar crypto business.
Yeah, they are the founders of Dogecoin
Founders: Billy Markus, Jackson Palmer
Founder year: 2013
The IBM and Adobe software engineers Billy Markus and Jackson Palmer created their own Doge blockchain and Dogecoin. Within a month of launch, the Dogecoin website reached one million visitors.
Dogecoin - Mascot
When we think about Dogecoin, the first thing that comes to our mind is the hilarious face of the Dog. Actually things started with this meme
The above pic is known as the doge meme which became the meme of the year 2013 that features the japanese dog belonging to the breed Shiba Inu and the Dogecoin community people call themselves as shibes ! Funny, is n’t it ?
Highlights of Dogecoin
- I need to admit that the origin of the dogecoin may be funny but it ultimately used for good causes and charity
- In the year 2014, It has raised over 50K USD to help Jamican Bobsled team for winter olympics
- On the world water day, the community has raised over 30K USD to clean water wells in kenya
- In American car raising, the community paid 55K USD to the driver who participated with dogecoin themed car
- Reddit has a active Dogecoin community where they reward each other with dogecoin for good content
- People are also using dogecoin to raise funds for the homeless and poor.
- “1 Doge = 1 Doge” is the popular phrase used by dogecoin community people hoping that dogecoin would be accepted as the payment method. soon
How to Store Dogecoin ?
As Dogecoin is a kind of cryptocurrency, obviously one needs a Cryptocurrency Wallet to store Dogecoin. Here is the types of wallets.
Dogecoin itself offers two types of software wallet to download.
Dogecoin core: This wallet consumes huge amount data and time which holds the whole dogecoin blockchain
MultiDoge: MultiDoge is the light weighted version of wallet that stores only important information
Dogecoin supports online wallet that let users use dogecoin blockchain anywhere and everywhere
Paper wallet is considered as the safest way to hold dogecoin as it is a kind of printable wallets
Hardware wallet are a kind of offline wallet where one can store dogecoin securely
How Safe is the Dogecoin Network ?
In the initial days, Dogecoin had security issues and was at a risk of 51% attack.
51% attack means that the control of 50% of the blockchain network comes under one person or a group. In the year 2014, Dogecoin wallet was hacked and 23 million Dogecoins worth 11K USD were stolen, later Dogecoin refunds their users with the desired coins.
To make the Dogecoin blockchain more robust and secure, the developers built a merge mining operation with Litecoin so the network is combined together and fortified.
Elon Musk - The Dogefather
The Most Popular Public figure, Elon musk calls himself as the DogeFather. In the recent days, you could spot his positive approach for dogecoin and cryptocurrencies.
Very recently, Elon Musk tweeted that he join hands with Dogecoin Developers to update and improve the efficiency of Dogecoin which directly reflects in the price of Dogecoin and it raised to 30% within 24 hours. See the power of a single tweet!
He said that SpaceX will launch a mission to moon in the year 2022 by Dogecoin Fund which eventually build the future for Dogecoin
Will Dogecoin Reaches $1 ?
We could expect that! There is a certain limit for Bitcoin and Litecoin.The maximum limit for Bitcoin is 21 Million but the Dogecoin has no limits. It is also the important reason for the Price of Dogecoin but we hope in the future, Dogecoin will hold the most significant place in the Crypto Market.
Dogecoin is more than a Cryptocurrency it holds a strong community where people can do good deeds, have fun, collaborate, etc, We have no idea how far this will grow but it gives hope for both mankind and Crypto Market.