Written by: Sarjan Waiba Tamang - 24009, Grade X
Posted on: 19 May, 2021
Dogecoin is a cryptocurrency which was created by two software engineers Billy Markus and Jackson Palmer. If you don't know what cryptocurrency means, basically it is a digital or virtual currency that only exists electronically.It does not exist in physical form.
Cryptocurrency exists in a computerized Database.The American cryptographer David Chaum conceived an anonymous cryptographic electronic money called ecash in 1983 A.D. After that he implemented it through Digicash. In 2009, the first decentralized cryptocurrency, bitcoin, was supposedly created by developer Satoshi Nakamoto. After that cryptocurrency started being famous. The system of Cryptocurrency keeps an overview of cryptocurrency units and their ownership.The system can easily define whether new cryptocurrency units can be created. If new cryptocurrency units could be created, the system then defines the circumstances of their origin and determines the ownership of these new units. Ownership of cryptocurrency units can be proved by cryptographically. It allows transactions to be performed in which ownership of the cryptographic units is changed. A transaction statement can only be issued by the current ownership of these units. Cryptocurrency exchanges allow customers to trade cryptocurrencies for other assets, such as conventional fiat money, or to trade between different digital currencies. Dogecoin is also a type of cryptocurrency. The programming language of dogecoin is c++. In 2013, a photo of a dog was very viral. Somewhere on the internet you have seen this dog’s memes.
Dogecoin has the journey from meme to cryptocurrency. At that time in the cryptocurrency Bitcoin was very famous. In December, 2013 the two software engineers Billy Markus and Jackson Palmer just for fun and joke, they combined the meme and cryptocurrency and they made the Dogecoin.The symbol of Dogecoin is D, Ɖ.
Dogecoin is decentralized just like Bitcoin. It is not controlled by anyone. After the release of Dogecoin Jackson Palmer just did a tweet on twitter by saying “Investing On Dogecoin” and this tweet was very viral. After that he said that Dogecoin is available in limited numbers. After that people started buying it just for fun. They just take it as a meme. In 2017 the community of reddit viral it more. After that more people know about Dogecoin. Recently, Elon Musk tweeted that he is going to keep one dogecoin on the moon and he also said that it may also be our future currency. An unbelievable thing happened after the statement of Elon Musk.
In the starting phase the value of Dogecoin (6 months ago) was 0.1 USD dollar. But its value is 0.5 USD (today’s value) dollar. In Nepali currency the value of one dogecoin is 60 rupees. If you had bought it a few months ago you might have become rich.If you have invested 2 lakh rupees it would have been 1 crore in a half year.The value of Dogecoin increases and decreases day by day. The value is not constant of Dogecoin. But it is a risk to invest in dogecoin because its value is not constant.
