Dogecoin is an old and popular decentralized, open source, P2P cryptocurrency that was developed by Shibetoshi Nakamoto (Billy Markus) and Jackson Palmer on 6th Dec 2013.
Dogecoin is based on proof-of-work (POW) algorithm, and uses scrypt mining technology which is different from Bitcoins' SHA-256, devices like FPGA and ASIC are used for DOGE mining. The Symbol of Dogecoin (DOGE) is Ð.
There are currently more than 127 billion dogecoins circulating in the coin market, however, there is no maximum supply limit for this cryptocurrency as it is forever minted 10000 DOGE every block, block time of Doge is 1 minute.
Billionaire tycoon Elon Musk is known to a Dogecoin fan, he even used the self-made title of “CEO of Dogecoin” for himself. Billy Markus originally started Dogecoin as a joke on decentralized digital assets, but Musk's support made dogecoin to become a popular cryptocurrency. However, the price of dogecoin remained low due to unlimited supply.