What is Dogecoin?
We mentioned that each cryptocurrency is designed as a result of a certain project. As a result of the traditional search for an exempt and fast coin in banking transactions, Dogecoin was created with the idea of Jackson Palmer and the contributions of Billy Markus. Over time, this fun coin has come under the close attention of many people and has deepened the work in this way. But what is Dogecoin? Why was it found? Let's answer these questions together.
Invention of Dogecoin
This coin is not a coin that was found for purpose or entertainment purposes, contrary to what is commonly known. Primarily, the purpose of inventing dogecoin is a reaction to the banking system. In the current banking system, there are many problems for those who want to transfer money. These are some disadvantages such as high costs in money transfer, account creation costs, and being subject to other banking products by necessity. Dogecoin is a coin that was found to eliminate this problem.
The engineers who invented this coin came up with dogecoin in a way as a reaction to this banking system. The current market value of over $50 billion can be interpreted as Dogecoin being a tool for speculation. As it is known, Elon Musk made the dogecoin move at a very high speed with his tweets. It is not known exactly how long this situation will continue.
As it is known, when it comes to crypto mining, different coin infrastructures are evaluated. It is important to evaluate the mining according to the current coin profitability. In other words, will your mining be worth the coin you bought? It is necessary to answer the question.
Only Dogecoin, on the other hand, stands out as a coin that has managed to please its miners very seriously with the leaps it has made in recent times. However, in the following periods, it is a matter of curiosity how the upward and downward graph will be.
About Dogecoin Future
Since this coin is not tied to an existing project and is only maintained with a certain fan base, different interpretations can be made about its future. Currently, the subreddit on Reddit has about one million followers. This ensures positive comments about the future of the coin.