What is Dogecoin (DOGE)?
Dogecoin was the brainchild of two engineers who decided to unite two of 2013’s biggest digital spectacles: Doge and bitcoin. It’s fair to say that IBM engineer Billy Markus and Adobe Engineer Jackson Palmer had no idea that what started as a bit of fun would end up being one of the most popular altcoins in the world of cryptocurrency.
As of 2020, cryptocurrency has been used as a decentralized alternative to traditional fiat currencies (which are usually backed by some central government) such as the US dollar (USD). Meanwhile, cryptocurrency technology, including smart contracts and blockchain, has been used for a number of other purposes such as apps, cloud computing, and more. As of September 2017, there were over 1,100 cryptocurrencies and the total market capitalization of all cryptocurrencies reached an all-time high surpassing $60 billion! Then, by December 2017, the total market cap reached $600 billion (a multiple of 10 in only two months). Although the future is uncertain, cryptocurrency is proving itself to be more than just a fad. Today cryptocurrency is shaping up to be a growing market that (despite the pros and cons) is likely here for the long haul.