The popularity of cryptocurrency is growing, and there are more and more ways you can use it. DOGE is one of them, but very few digital assets have such an interesting image behind them. The Dogecoin Foundation was obviously led by Eric Nakagawa, who is a public speaker, best-selling author, and the head of open-source for Libra that is a cryptocurrency project of Facebook. However, you definitely need to know more information about the coin before you swap DOGE to BTC. So, keep on reading this article to know how DOGE Work.
What We Know About DOGE Work
Dogecoin is a digital asset, which is primarily utilized for tipping clients on Twitter and Reddit. Also, numerous merchants worldwide accept the coin as a payment method. Thus, it is possible to use DOGE to purchase household supplies, food, and even website domains. The digital asset was developed as an attempt to break the sigma around digital assets that carried negative connotations at that moment.
The coin was developed as a response to the opportunistic greed that Palmer noticed in the bigger part of the crypto community. Therefore, DOGE was intentionally created to be unattractive to investors, so they kept the value low thanks to the coin`s mining algorithm.
How Does DOGE Work?
DOGE happens to be a version of Luckycoin that is a fork of Litecoin. The Dogecoin blockchain is able to process 30 transactions a second, while every transaction costs one cent USD. Just after the launch of DOGE, its developers worked with the developers of Digibyte to implement Digishield. The latter is a protocol, which changes the mining difficulty of Dogecoin in every block so that no large mining pool takes it over. DOGE obtained no pre-mine and ICO. Unlike many other digital assets, the function and design of Dogecoin are rather simple. Moreover, the coin has not changed since its launch.
How to Mine Dogecoin
The coin was developed to be mineable by anyone who has a computer, and the process can be performed with the help of a GPU and CPU. At the same time, the mining difficulty of the digital asset increased substantially very soon after its release. It is not recommended to perform mining with either GPU or CPU because they can make your computer overheat.
Mining utilizing either GPU or CPU will bring you an average return of less than one coin per hour or even per day, which depends on the used hardware. Therefore, it is better to use a Dogecoin mining pool.
It is also possible to mine DOGE with the help of an app-specific integrated circuit miner. This term is used for specialized hardware created specifically for mining digital assets. You can find ASIC miners in different sizes, shapes, and price tags. It is possible to utilize this DOGE mining calculator to see how much money it is possible to make with the ASIC miner. In addition to that, you can take part in ADOGE mining pools with such a miner. As soon as you decide what you will utilize to mine, it is necessary to find the appropriate software.
Overall, Dogecoin was fun, and it still remains this way. People wonder how long this digital asset will last, but it seems that it will be there as long as Litecoin continues to breathe. Dogecoin can still be a force in driving cryptocurrency adoption in the following years. So, you can just check exchanges, such as http://alligat0r.com, to see what rates there are.