Dogecoin Explorer
Explore the Dogecoin blockchain
About Dogecoin
Overview
Dogecoin (DOGE) is a cryptocurrency that was created as a joke in 2013 by software engineers Billy Markus and Jackson Palmer. It was named after a popular internet meme featuring a Shiba Inu dog. Despite its humorous origins, Dogecoin has gained significant popularity and has developed a dedicated community of users and supporters.
History
Dogecoin was created by Billy Markus, a programmer from Portland, Oregon, and Jackson Palmer, who was a member of Adobe Systems' marketing department in Sydney. Markus had been following the development of cryptocurrencies and wanted to create a digital currency that could reach a broader demographic than Bitcoin. He decided to create a coin based on the popular "Doge" Internet meme featuring a Shiba Inu dog. Palmer, who was initially skeptical of cryptocurrencies, received a tweet from a student encouraging him to make the idea a reality. On December 6, 2013, Dogecoin was launched. The Dogecoin community quickly became known for charitable endeavors, including funding the Jamaican bobsled team's trip to the 2014 Winter Olympics, building wells in Kenya through the Charity: Water organization, and sponsoring NASCAR driver Josh Wise.
Technology
Dogecoin is based on Litecoin and uses the Scrypt algorithm for its proof-of-work mechanism. This makes it different from Bitcoin, which uses the SHA-256 algorithm. The Scrypt algorithm was designed to be more accessible to everyday users, allowing them to mine Dogecoin without specialized hardware. Dogecoin's block time is 1 minute, compared to Bitcoin's 10 minutes, which allows for faster transaction confirmations. The block reward is currently 10,000 DOGE per block. Unlike Bitcoin, which has a capped supply of 21 million coins, Dogecoin has no maximum supply limit. Currently, there are over 140 billion DOGE in circulation, with 10,000 new coins mined every minute.
Community
Dogecoin has one of the largest and most active communities in the cryptocurrency space. The community is known for its friendly and welcoming nature, often using the slogan "Do Only Good Everyday" (DOGE). The Dogecoin community has been involved in numerous charitable initiatives, including funding the Jamaican bobsled team's trip to the 2014 Winter Olympics, building wells in Kenya, and supporting other charitable causes. The community is also known for its memes and humor, reflecting the coin's lighthearted origins.
Key Features
Fast Transactions
Dogecoin has a block time of just 1 minute, making transactions relatively quick compared to some other cryptocurrencies. This makes it suitable for everyday transactions and microtransactions.
Low Fees
Transaction fees for Dogecoin are typically very low, often less than $0.01. This makes it economical to use for small transactions and tips, which has been one of its primary use cases in the community.
Unlimited Supply
Unlike Bitcoin, which has a capped supply of 21 million coins, Dogecoin has no maximum supply limit. Currently, there are over 140 billion DOGE in circulation, with 10,000 new coins mined every minute. This inflationary model was designed to encourage spending rather than hoarding.
Community Driven
Dogecoin has a large and active community that has been involved in various charitable initiatives, including funding the Jamaican bobsled team's trip to the 2014 Winter Olympics and building wells in Kenya. The community's slogan "Do Only Good Everyday" reflects its positive and charitable ethos.
Key Contributors
Billy Markus
Co-founder
Software engineer from Portland, Oregon who created Dogecoin in 2013. He sold all his Dogecoin in 2015 but remains an influential figure in the community.
Jackson Palmer
Co-founder
Former Adobe employee who co-created Dogecoin. He left the project in 2015 and has since become critical of the cryptocurrency industry.
Ross Nicoll
Core Developer
One of the lead developers who maintained the Dogecoin codebase for many years. He stepped back from his role in 2022 but remains an advisor.
Max Keller
Core Developer
A key developer who has been working on Dogecoin's codebase, focusing on improving the core technology and keeping it up to date.
Major Milestones
December 6, 2013
Dogecoin Launch
Billy Markus and Jackson Palmer launched Dogecoin as a joke cryptocurrency based on the popular "Doge" meme.
December 19, 2013
First Major Price Jump
Dogecoin's value increased by 300% in 72 hours, reaching a market capitalization of $8 million.
January 2014
Jamaican Bobsled Fundraiser
The Dogecoin community raised $30,000 in Dogecoin to send the Jamaican bobsled team to the 2014 Winter Olympics in Sochi, Russia.
March 2014
Doge4Water Charity
The community raised 40 million Dogecoin (approximately $30,000) to build wells in Kenya through the Charity: Water organization.
May 2014
NASCAR Sponsorship
The Dogecoin community sponsored NASCAR driver Josh Wise's car, which featured the Dogecoin logo and the Shiba Inu dog at the Aaron's 499 at Talladega Superspeedway.
January 2018
$1 Billion Market Cap
Dogecoin reached a market capitalization of $1 billion for the first time during the 2017-2018 cryptocurrency bull run.
July 2019
Binance Listing
Dogecoin was listed on Binance, one of the world's largest cryptocurrency exchanges, significantly increasing its accessibility.
January 2021
Reddit WallStreetBets Movement
Dogecoin gained significant attention during the WallStreetBets movement, with its price increasing dramatically.
April 2021
Coinbase Listing
Dogecoin was listed on Coinbase, further increasing its mainstream accessibility.
May 8, 2021
All-Time High
Dogecoin reached its all-time high price of approximately $0.74, with a market capitalization of over $90 billion.
June 2022
Dogecoin Core 1.14.6 Release
The Dogecoin development team released version 1.14.6 of the Dogecoin Core software, including important security updates and changes to network policy.
April 2023
Twitter Logo Change
Twitter temporarily changed its logo to the Dogecoin Shiba Inu dog, causing a significant price increase.