Markus reached out to Palmer after seeing the site, and started efforts to develop the currency. Palmer had purchased the domain and added a splash screen, which featured the coin's logo and scattered Comic Sans text. At the time, he was a member of the Adobe Systems marketing department in Sydney. Palmer is credited with making the idea a reality. Dogecoin was officially launched on December 6, 2013, and within the first 30 days, there were over a million visitors to. In addition, they wanted to distance it from the controversial history of other coins.
They wanted to create a peer-to-peer digital currency that could reach a broader demographic than Bitcoin.
Originally formed as a "joke", Dogecoin was created by IBM software engineer Billy Markus and Adobe software engineer Jackson Palmer. Dogecoin takes only 1 minute to confirm, while BTC takes 10 minutes.
Dogecoin is based on Scrypt algorithm, and the transaction process is more convenient than Bitcoin. 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. With the help of Reddit, the site became an instant hit. ĭ 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 as a way to make fun of Bitcoin and the many other cryptocurrencies boasting grand plans to take over the world. It is the current shirt sponsor of Watford Football Club. 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. Dogecoin features the face of the Shiba Inu dog from the " doge" meme as its logo and namesake. Despite its satirical nature, some consider it a legitimate investment prospect. It is considered both the first " meme coin", and, more specifically, the first "dog coin". Billy Markus ("Shibetoshi Nakamoto"), Michi Lumin, Ross NicollĮxactly Ð5 billion will enter circulation each year.ĭogecoin ( / ˈ d oʊ( d) ʒ k ɔɪ n/ DOHJ-koyn or DOHZH-koyn, Abbreviation: DOGE sign: Ð) 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.