Dogecoin (DOGE)

 

Dogecoin

Dogecoin is a cryptocurrency created by software engineers Billy Markus and Jackson Palmer, who decided to create a payment system as a "joke", making fun of the wild speculation in cryptocurrencies at the time. It is considered both the first "meme coin", and, more specifically, the first "dog coin". 

Here’s why Dogecoin’s core developer is stepping away from the crypto project

It should be noted that Nicoll also works as a full-time employee for another company, the name of which is currently unknown. According to Nicoll, his departure is not absolute and there’s “further complication” as his employer is moving into the blockchain space, which could stoke the risk of conflict of interest if he were to remain as director of the Dogecoin Foundation.  “I’m handing over everything I can to the Dogecoin Foundation. I will remain as an advisor to the Foundation, to enable transition,” he wrote in a blog post.

The chief developer also wrote about the number of threats that Dogecoin Foundation continues to face. In 2021, several parties were registering trademarks for Dogecoin, presumably to claim “they” were Dogecoin. “External parties we had never heard of managed to get articles published which referred to them as Dogecoin developers. In the summer of 2021, there was a potential lawsuit against the developers from someone who claimed we were responsible for their funds,” Nicoll said, adding that he is not in the right mindset to steer Dogecoin into the next phase. 

It is considered both the first "meme coin", and, more specifically, the first "dog coin". Despite its satirical nature, some consider it a legitimate investment prospect. Dogecoin features the face of the Shiba Inu dog from the "doge" meme as its logo and namesake. It was introduced on December 6, 2013, and quickly developed its own online community, reaching a market capitalization of over $85 billion on May 5, 2021. It is the current shirt sponsor of Watford Football Club.

Dogecoin.com promotes the currency as the "fun and friendly Internet currency", referencing its origins as a "joke". Software engineers Billy Markus and Jackson Palmer launched the satirical cryptocurrency to make fun of Bitcoin and the many other cryptocurrencies boasting grand plans to take over the world. With the help of Reddit, the site became an instant hit. Within two weeks, Dogecoin had established a dedicated blog and forum, and its market value has reached US$8 million, once jumping to become the seventh largest electronic currency in the world. Dogecoin is based on Script algorithm, and the transaction process is more convenient than Bitcoin. Dogecoin takes only 1 minute to confirm, while BTC takes 10 minutes.