Dogecoin is one of the first altcoins and was created as a fast and instant payment system based on the Litecoin blockchain architecture. The idea behind the project was to create a fun and easy-to-use alternative to Litecoin (itself an alternative to Bitcoin), driven by a strong user community.
DOGE has become the most popular cryptocurrency on the market, primarily due to its accessibility on social media and to large demographics around the world. Famous tech entrepreneur Elon Musk is a big fan of Dogecoin. The Tesla and SpaceX founder has tweeted regularly about DOGE over the years, saying he will always support the DOGE project.
Like Bitcoin and Ethereum, Dogecoin uses blockchain technology. This decentralized ledger records all digital currency transactions that take place using a distributed and secure ledger.
The Dogecoin blockchain is a decentralized database where transactions are recorded by people known as miners, through solving complex mathematical problems using computers. Miners earn additional Dogecoin by supporting the blockchain ledger and transactions. These earned Dogecoins are held or sold by sending them to exchanges.
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