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What Is Dogecoin?

Dogecoin (DOGE) is based on the popular “doge”
Internet meme and features a Shiba Inu on its logo. The open-source
digital currency was created byI’m Billy Markus, originally from
Portland, Oregon, and my buddy Jackson Palmer from Sydney,
Australia. In December 2013, we forked Litecoin and created
Dogecoin. Our vision was to create a fun, light-hearted
cryptocurrency that would attract people outside of the traditional
Bitcoin audience, thanks to the popular dog meme. Elon Musk, CEO of
Tesla, recently posted some tweets about Dogecoin, saying it’s his
#1 favorite coin.

How Do You Mine Dogecoin?

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Dogecoin differs from Bitcoin’s proof-of-work
protocol in several ways, one of which is by using Scrypt
technology. The altcoin has also a block time of 1 minute, and the
total supply is uncapped, which means that there is no limit to the
number of Dogecoin that can be mined. You can mine DogecoinI’m
mining my own Dogecoin! It’s quite a process, starting with
downloading the right software for my computer – be it Windows, Mac
or Linux – and then either mining alone or joining a mining pool.
And hey, I can even use my GPU to do it! That’s not all though,
since 2014 I’ve also been able to mine Litecoin too – and it’s the
same process as mining Dogecoin. It’s awesome that I can mine two
different digital currencies at the same time – and with the same
process.

What Can Dogecoin Be Used
For?

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I’ve recently discovered the world of Dogecoin
and it’s been incredible! It’s an online currency that’s used to
reward people for creating or sharing quality content on Reddit and
Twitter. It’s pretty easy to get your hands on some Dogecoin. You
can join a community that uses the digital currency and get tipped
Dogecoin, or get it from a Dogecoin faucet. A Dogecoin faucet is a
website that gives you a small amount of Dogecoin for free so you
can get a feel for the currency and interact in Dogecoin
communities.

How Can You Buy Dogecoin?

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You can sell or buy Dogecoin at any exchange
that offers the digital currency, store it on an exchange or in a
Dogecoin wallet, and tip Dogecoin in any communities that accept
Dogecoin. For the latest list of exchanges and trading pairs for
this cryptocurrency, click on our market pairs tab.

Elon Musk and Dogecoin

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The success of Dogecoin is closely intertwined
with Elon Musk’s passion for it. Musk began tweeting about Dogecoin
in early 2021, sharing a Lion King DOGE meme. That kickstarted a
furious DOGE rally — with temporary dips — that culminated in
Musk’s appearance on Saturday Night Live.

After the SNL appearance, DOGE crashed despite
Musk’s promises to moon its price. In the following months, Musk
seemed to lose interest, and the price of DOGE has tumbled over 70%
from its all-time high. However, Musk still wields power over
Dogecoin, as occasional tweets indicate.

Dogecoin
Foundation and Board of Advisors

I created a foundation back in 2014 to help out
the Dogecoin team with support, advocacy, trademark protection, and
some governance. Unfortunately, it didn’t last very long and I had
to dissolve it. It was a tough decision, but it had to be done. It
was a great project and I’m proud of the work that we did together.
I’m glad that the Dogecoin project has continued to thrive, even
without the foundation.

I’m so excited to be part of the relaunch of the
foundation! After a few years of inactivity, it’s back in 2021 with
a new mission: to support Dogecoin’s ecosystem and community while
promoting the future of the Dogecoin Blockchain. I’m proud to be
part of the board of advisors, along with some of the original core
team and some experienced industry professionals. Together, we’ll
work to make Dogecoin as successful as possible!

According to the foundation’s websiteI attend
the board meetings monthly to discuss the progress and issues of
Dogecoin. At these meetings, we focus on the development of the
virtual currency and our objectives for the future. We discuss
strategies to improve the infrastructure and security of the
platform, as well as ways to increase adoption. We also address any
concerns from the community, as we strive to provide the best
service for all Dogecoin users. We are always looking for new ideas
to make Dogecoin the most successful and secure cryptocurrency.

I’m a part of a group that includes Dogecoin
creator Billy Markus, the main developer Max Keller, Ethereum
founder Vitalik Buterin and Elon Musk’s right-hand man, Jared
Birchall. Together, we make up the advisory board for this project.
It’s an honor to be a part of such an esteemed group of people!

I have been appointed to the Board of Advisors
with a few different roles. For the project, I will act as the
technical advisor, while Markus is responsible for the community
and memes. Vitalik Buterin is the blockchain and crypto advisor for
the foundation, and Birchall is the legal and financial advisor
representing Elon Musk. I’m looking forward to contributing to this
endeavor and making it successful.

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I’m part of a Board of Advisors working to
ensure Dogecoin is properly funded for the next three years. Until
now, the work on the ecosystem has been done by volunteers, so it’s
time to bring in staff to focus on Dogecoin full-time. We need to
make sure that we get the money to make sure Dogecoin has the
resources it needs to stay strong.

What Is Dogecoin’s
Libdogecoin?

I’m thrilled to announce the launch of
Libdogecoin, a C-library of the network’s building blocks. It comes
just weeks after the release of Dogecoin Core version 1.14.6 and is
something I (Michi Lumin) have been working on for a while now!
This library contains all the essential components of the Dogecoin
network, making it easier for developers to create applications and
services. It’s an exciting time for Dogecoin and I’m proud to be
part of the journey.

I’m so excited to try out Libdogecoin! It’ll
make it a breeze for me to design products that are
Dogecoin-compliant without needing to understand all the complex
crypto stuff. This makes it much easier for less tech-savvy people
to build products that stick to the Dogecoin standards. It’s a
total game-changer!

I recently updated Libdogecoin, a library that
supports multiple languages like Python, Node.js and Ruby. While
this update doesn’t provide a “runnable” node, it does offer the
ability to use the library in any of these languages. This means
that developers can now access the library no matter what language
they are using. I’m excited to see what people build with it!

Companies That Accept
Dogecoin

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I have been noticing that a lot of companies
have been joining the Dogecoin train and allowing it as a payment
option due to its low transaction fees and the support from tech
mogul Elon Musk. It’s become quite popular and it’s easy to see
why. I’m glad to see that more businesses are hopping on board and
it looks like the future of cryptocurrency is bright!

I’ve heard about the rise of Dogecoin lately, so
I’m keen to find out who’s accepting it as a form of payment. After
doing some research, I found several big names who are on board
with the cryptocurrency. To name a few, they include Microsoft,
Twitch, and Reddit. It’s great to see that these companies have
hopped on the Dogecoin train, and who knows, maybe one day I’ll be
able to use it to make a purchase!

• Tesla
• AMC Theaters
• GameStop
• airBaltic
• Dallas Mavericks
• EasyDNS
• Newegg
• Twitch.