Dogecoin news are here to remind us why the cryptocurrency space is strange, unconventional, yet fun. By taking inspiration from the Shiba Inu "Doge" internet meme which was really big back in 2013, programmers Billy Marcus and Jackson Palmer have given life to the next natural step in the life of every digital phenomenon: they have created a cryptocurrency.
Dogecoin is a fork of Lucky Coin, which in its turn is derived from Litecoin. It makes use of the Scrypt mining algorithm just like Charlie Lee's creation, which means that the Bitcoin ASICs can't take down the currency of the Shiba Inu.
From an economic standpoint, DOGE is very simple, has an unlimited supply, and is purposely created to be inflationary. Therefore, it's not much of a store of value, but offers a really quick way to send money with low fees and quick validations. The 1-minute block time and low demand for block space mean that you can make payments and donations worldwide with some of the lowest fees – however, it all comes at the cost of lower network security (unlike Bitcoin, Dogecoin is easier to attack).
Dogecoin news about sponsoring the Jamaican bobsled team during the 2014 winter Olympics, the Doge4Water campaign in 2014, and the NASCAR partnership have made the rounds all across mainstream media, and they helped popularize cryptocurrencies as means of payment and charitable assets. Furthermore, DOGE is a popular tipping method in video game streaming, and there are even some online merchants which accept in exchange for their goods and services.
Last but not least, Dogecoin is a benchmark for decentralization. As presented in a December 2018 Crypto Insider article, DOGE has more nodes running than other serious and business-minded contenders such as IOTA, NEM, NANO, Stellar, and NEO. Much coin, such wow, many shibe.