Dogecoin (symbol DOGE) is a cryptocurrency that was launched in December 2013, and it is built on blockchain technology like other cryptocurrencies, but it started as a joke inspired by a famous meme of a Shiba Inu dog.
As a digital currency, its features are:
Fast and cheap: Transactions on the Dogecoin network occur very quickly and their costs are very low compared to Bitcoin.
Unlimited supply: Unlike Bitcoin, which has a maximum issuance limit (21 million), Dogecoin has no maximum supply cap, as new coins are continuously issued (about 10,000 DOGE every minute).
Proof of Work: It uses the “Script” algorithm for mining, which means that miners solve mathematical problems to verify transactions and secure the network.
Active community: It has a large community that supports it and uses it mainly for donations, online tips, and small payments.
Its uses:
Payment for goods and services at some websites and stores that accept cryptocurrencies.
Providing online tips like small rewards for content creators.
Using it for fundraising and charitable initiatives.
Disadvantages as a currency:
The unlimited supply may lead to currency inflation, which may affect its value in the long term.
It is not considered a "store of value" like Bitcoin; instead, it is used more as a currency for quick small transactions.
