Doge Write For Us
Dogecoin is a cryptocurrency created by software developers Billy Markus and Jackson Palmer, who decided to create a “hoax” payment system and poke fun at the crazy cryptocurrency speculation of the time. It is considered the first “meme play” and, more specifically, the first “dog play.” Despite its satirical nature, some consider it a legitimate investment opportunity. Dogecoin features the face of the Shiba Inu dog from the “Doge” meme series and the eponymous as its logo.
Launched on December 6, 2013, it quickly grew its online community and reached a peak market capitalization of over $100,000 85 billion. [until] May 5, 2021. It has been the title sponsor of [b] Watford Football Club since 2021.Dogecoin.com advertises the currency as a “fun and easy-to-use internet currency” and calls its origin a “joke.”
Technology and DeFi
DeFi (decentralized finance) is a form that does not involve intermediaries such as brokers, exchanges, or banks that offer financial instruments. This is achieved through “smart contracts”. These are automated and enforceable contracts using online blockchain technology. While Dogecoin cannot directly interact with smart contracts as it runs on its blockchain, coins can be “rolled up,” So they can be closed in a state that allows interoperability with the contract until the next unpack.
The Ren project has enabled Dogecoin (renDOGE) use on the Ethereum blockchain and access to the DeFi network. (Most DeFi coins use the Ethereum blockchain network. DeFi-related coins use decentralized applications (“dApps”) to transact and trade on decentralized exchanges (DEx) like Uniswap. These DEx are exclusively Peer-to-Peer Exchanges – Peer without a company or other institution providing the platform.
Currency Supply
The Dogecoin currency supply started with a supply limit of 100 billion euros, which would be a much higher number of coins than the significant digital currencies of the time allowed. By mid-2015, the 100 billionth Dogecoin had been mined, with another 5 billion circulated yearly. While there is theoretically no cap on supply, at this rate, the number of Dogecoins in circulation will only double in 20 years (the next doubling will occur in 2075). There is no hard limit to the total supply of Dogecoins.
However, in February 2014, Dogecoin founder Jackson Palmer announced that the cap would be removed to ensure a steady reduction in the inflation rate over time. In other words, the inflation rate is improving over time, from 5% in 2015 to less than 4% in 2019, 3% in 2027, and 2% in 2035.
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