Like other cryptocurrencies, Dogecoin’s blockchain network uses cryptography to keep all transactions secure. Blockchain is a distributed, secure digital ledger that stores all transactions made using a decentralized digital currency.Īll holders carry an identical copy of the Dogecoin blockchain ledger, which is frequently updated with all new transactions in the cryptocurrency. How Does Dogecoin Work?ĭogecoin is a cryptocurrency that runs on blockchain technology, similarly to Bitcoin and Ethereum. “Doge really is less like Bitcoin and more like DASH or Bitcoin Cash, where the express goal is a spending currency,” said White. Despite this unusual origin story, it has exploded in popularity in 2021-as of writing, Dogecoin has become the fifth largest cryptocurrency by market cap. Dogecoin was originally created at least in part as a lighthearted joke for crypto enthusiasts, and took its name from a once-popular meme. What is Dogecoin?ĭogecoin is a cryptocurrency, like Bitcoin or Ethereum-although it’s a very different animal than either of these popular coins. In order to access your coins and recover your dogecoins if something bad happens. This is a hack that will let you have almost an infinite amount of dogecoin.
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