What is Dogecoin?
Dogecoin is one of the cryptocurrencies, Created by Billy Markus and Jackson Palmer.
This is a payment system that is free from traditional banking fees.
The logo of Dogecoin features the face of Shiba Inu dog.
The initial release is December 2013.
It is expected to grow further, however, please note cryptocurrencies are highly volatile and risky.
Tesla CEO Elon Musk called it “people’s crypto”, however when he joked about it on SNL, it went down 30%, which indicates the risks involved.
Dogecoin runs on blockchain technology. similar to Bitcoin and Ethereum.
What is BlockChain?
Answer: it is distributed. a secure digital ledger that stores all transactions made using decentralized digital currency.
People use computers to solve complex mathematical equations in order to process transactions and record them on the Dogecoin blockchain.
In exchange people get additional Dogecoins, these they can exchange or sell on the open market.
Also please check