What Should Be Known About Dogecoin?

The popularity of cryptocurrency is constantly growing. This is because crypto has long gone beyond the purely investing sphere. Nowadays, numerous stores and businesses offer goods, as well as services, with price tags in coins. Nay, experts predict that the blockchain market will hit $23.3 billion by 2023. And this is mainly due to cryptocurrency branch development. Furthermore, over 300 million people worldwide apply crypto. 

One of the ten most popular cryptocurrencies is Dogecoin. This crypto appeared in 2013 and quickly gained loads of holders all over the world. The DOGE rate changes systematically. However, relative to other cryptocurrencies, Dogecoin is a fairly stable asset. Specialists recommend tracking the DOGE rate on reputable platforms. For example, blockchain lovers may apply the link https://cryptotracker.com/price/dogecoin to do this.

Key Dogecoin Features

DOGE was created based on the Litecoin script. Dogecoin supports crypto mining. Initially, the idea of getting the described coin was similar to obtaining Luckycoin. So, miners randomly received rewards for each gained block.

But DOGE creators hugely updated their crypto in 2014. After this, Dogecoin miners started receiving 10,000 coins for each gotten block. Moreover, within the update, DOGE developers had set a limit on their cryptocurrency release of 5.256 billion coins annually for an unlimited number of years.

Block Creation Rate in Dogecoin Blockchain

Cryptocurrency lovers praise DOGE for its rapidity. Here, blocks appear each minute. To compare, Bitcoin and Litecoin blockchains generate new blocks respectively every ten as well as 2.5 min.

Dogecoin Transaction Fees

The described cryptocurrency excels in low affairs charges. The latter is about 0.01 DOGE or, on average, nearly $0.001. For comparison, the BTC transaction fee equals $1.19 to $62.79. Because of its short block creation rate and low affairs charges, Dogecoin is considered a perfect option for making payments as well as purchases. To create a DOGE wallet, blockchain lovers may visit, e.g., CryptoTracker.com.

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Spectacular Facts About Dogecoin

Primarily, it’s worth noting that Elon Musk actively supports this cryptocurrency. As a part of DOGE promotion, the great inventor, e.g.:

  • initiated acceptance for payment of the described coins by Tesla, Starlink, SolarRoof, and Starship;
  • announced the creation of a university in the state of Texas, where students will pay tuition fees using Dogecoins;
  • implemented DOGE payment in his own chain of electric vehicle filling stations.

Moreover, SpaceX, together with GEC, announced a joint mission to the Moon funded entirely by Dogecoin.

DOGE in the Sports and Film Industry

In March of 2021, the owner of the professional basketball team Dallas Mavericks promised to accept Dogecoins when selling tickets, food, and souvenirs. After this announcement, the sports brand made 20,000 transactions in two days. Moreover, in March of 2022, the largest cinema chain worldwide, AMC, began to accept DOGE as payment.

Dogecoin Donates Funds to Charity

In January 2014, the DOGE community raised $50,000 for the Jamaican bobsleigh team. Thanks to this donation, the latter could participate in the same year’s Winter Olympics. Also, the community collected $55,000 to support racing driver Josh Wise. Nay, Dogecoin gathered funds for Doge4Water, a charity launched to help Kenyans get clean drinking water. As a result, numerous new wells were built in Kenya within the promotion.