Dogecoin is a decentralized, peer-to-peer digital currency that enables users to easily send money online. It was founded in 2013 by Jackson Palmer and Billy Markus. The currency's name comes from the Shiba Inu dog meme, which was popular at the time of its creation.
Dogecoin is based on the Litecoin protocol and has a similar mining process to Bitcoin. The project has a steadily growing community of fans and users. The native currency of Dogecoin is DOGE. The project was created with the intention of providing a fun and easy way to send money online. At first, it has been primarily used as a tipping currency on social media platforms, such as Reddit and Twitter. However, the currency now also can be used for payments on other platforms such as e-commerce websites.
The currency has a strong community backing it, which helps to keep its value stable. However, Dogecoin is not without its drawbacks. The currency is not well-suited for use as a payment system due to its volatile price.