What is Dogecoin?
Dogecoin is a cryptocurrency based on the popular "Doge" Internet meme and features a Shiba Inu on its logo. Dogecoin is a Litecoin fork and will have approximately 100 billion coins in circulation by the end of 2014. Dogecoin is inflationary and there will be an additional 5.2 billion coins created every year thereafter.
Dogecoin was created by Billy Markus from Portland, Oregon and Jackson Palmer from Sydney, Australia. Both wanted to create a fun cryptocurrency that will appeal beyond the core Bitcoin audience. Dogecoin is primarily used as a tipping system on Reddit and Twitter where users tip each other for creating or sharing good content. The community is very active in organising fundraising activities for deserving causes.
Dogecoin was launched on 8 December 2013 and uses the scrypt hashing algorithm.