What is Dogecoin?
Dogecoin is a cryptocurrency featuring a likeness of the Shiba Inu dog from the "Doge" Internet meme as its logo, introduced as a joke currency on 16 December 2013. While there are few mainstream commercial applications, the currency has gained traction as an Internet tipping system, in which social media users grant Dogecoin tips to other users for providing interesting or noteworthy content. It uses proof-of-work system to create new coins. It has a block creation time of 1 minute in average and block size of 1MB. Dogecoin had a fast initial coin production schedule: 100 billion coins were in circulation by mid-2015, with an additional 5.256 billion coins every year thereafter. Dogecoin can handle up to 33 transactions per second.