Author |
Produced by Fiona | Vernacular Blockchain (ID: hellobtc)
Yesterday, Elon Musk, who has nearly 41 million followers on Twitter, posted a number of Bitcoin-related tweets, one of which was: One word: Doge. Less than a few minutes after the release of this tweet, Dogecoin gained more than a dozen points in a short time.
It is worth mentioning that Musk's current personal Twitter profile is still the former CEO of Dogecoin. In April this year, Musk said on Twitter that Dogecoin may be my favorite cryptocurrency. He is very cool. In July of this year, he posted a photo on Twitter. The picture shows The Dogecoin Sand City storm swept a region that marked the global financial system.
Many people may have heard of Dogecoin before, but because of the random name, many people may not really pay attention to it. In fact, Dogecoin was born on December 12, 2013 and belongs to the old Token.
Dogecoin is not only "longevity", but also has a high market value. According to current prices, Dogecoin's market value is 300 million U.S. dollars (the highest value is 1.6 billion U.S. dollars), ranking 25th in the world.
Does this dog on the official website look familiar? Doge is a slang term for "Dog", usually a picture of Shiba Inu with an inner monologue as the title, such as the following:
In 2013, this expression became popular on Reddit. At the end of the same year, Australian marketing engineer Jackson Palmer launched "Dogecoin" (Dogecoin) based on the Bitcoin code. Doge's dog avatar became its symbol, which also established the tone of online popular culture.
Dogecoin is developed on the basis of Bitcoin. Although it is a PoW consensus mechanism, it does not use the SHA256 encryption algorithm used by Bitcoin, but uses the Scrypt algorithm (the same algorithm as Litecoin).
In addition, compared to the fixed total issuance of Bitcoin and Lightby, there is no upper limit to the issuance of Dogecoin, and blocks are produced every minute on average. The block reward is 1 million per block at the earliest, and the reward is halved for every 100,000 block. Starting from the 600,000th block, the block reward is constant at 10,000 and will not change.
Currently, the total amount of Dogecoin in circulation on the market is approximately 119 billion. After optimization, the current block difficulty of Dogecoin is adjusted by block to avoid the huge impact that may be caused by sudden changes in computing power.
Although Dogecoin also has the function of purchasing goods and services and redeeming other tokens, its most popular use is to "tip" on the Internet, especially to the authors of excellent content. Its meaning is equivalent to giving forums or The "Like" of the content in the circle of friends helps the further dissemination of valuable content on the Internet. Perhaps it is just in line with the Internet trend of Doge's online hot in 2013. Dogecoin was quickly recognized on Reddit after its launch and became a reward tool for tipping online.
After years of use and circulation, Dogecoin has been scattered in the hands of countless users. At present, Twitter has up to 134,000 followers (131,000 for Litecoin), which has a fairly broad mass base.
Going back to the beginning, Elon Musk, who fined him $20 million for improper words and deeds, was obviously just talking casually. Before long, he issued a warning again, saying "Doge value may vary", combined with the time of the tweet, it was just an April Fool's joke.
to sum up:
On the virtual currency platform, most of the projects are "other parties sing and I will appear on the stage". Dogecoin evolved from Bitcoin and positioned itself as a reward for the Internet, coupled with the people-friendly "Shiba Inu" image and clear positioning , Quickly acquired a large number of users, thus having a longer life cycle.
A major trend on the Internet is that cats are becoming more and more popular. Do you think there is a possibility of "cat tokens" in the future? If so, what might be the main purpose ? Welcome to brainstorm and leave a message in the message area.
This article is reissued from an old one with slight adjustments
Original link: " Iron Man" Musk also came to tease this Dogecoin born out of a joke
——End——
"Sound Description: This series is only for entry-block chain science learning, does not constitute any investment advice or recommendations. If there are any errors or omissions, please leave a message to point out. 』
Dear, it’s said that 99.9% of the tasteful people have ordered "Watching"????