Dogecoin (DOGE): Origin and Structure of the Fun and Friendly Cryptocurrency
Founded as a parody of cryptocurrency and based on a meme, Dogecoin’s popularity within internet culture has served as a gateway to other crypto projects.
Summary
Dogecoin (DOGE) started out as a parody of cryptocurrencies and, in particular, the proliferation of altcoins. Its founders have publicly stated that DOGE was a joke, and the currency hasn’t received a significant technical update since 2015. Despite these facts, market forces have kept the cryptocurrency alive. According to the founders, it was never about the value of DOGE, but rather about giving people an accessible introduction to the world of cryptocurrency through a face many already knew from an internet meme — Doge. The founders sought to overcome Bitcoin’s and other cryptocurrencies’ barriers to entry — for example, news of hacks and scams, as well as technological complexities. To that end, they created a fun and friendly cryptocurrency to welcome newcomers to the crypto space.
Contents
Dogecoin (DOGE) was created in 2013 from a Litecoin fork. Its creators, Billy Markus and Jackson Palmer, hypothesized that by piggybacking off a popular internet joke, Dogecoin might be able to reach a broader audience than Bitcoin. It was also partially intended to be a parody of all the altcoins flooding the cryptocurrency market at that time.
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The Structure of DOGE
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