Many connect the growth of the cryptocurrency DOGECOIN with a good Haip, but behind this coin there are ideas, values and subculture, which makes it a truly unique element in the digital world.
History
Jackson Palmer and Billy Markus created a project as a joke: the cryptocurrency called dogecoin, and visually became popular in Japan with the image of the dog of Siba-Ina breed. The developers have limited the issue of 100 billion coins, and the mining award was paid randomly so that the project is not perceived seriously.
It was supposed to scare investors and enthusiasts from any hopes for the growth of the DOGECOIN course. However, after a month after the launch, the project site was visited by a million times, and in 2014 it was necessary to abandon the random distribution of remuneration for mining to maintain the network performance due to the exponential gains of users.
Idea
December 6, 2013 started DOGECOIN. The project caused positive emotions with its directness, and the price of coins in the share of the cent make it accessible to buy and mining all those wishing. R / DOGECOIN channel in the Reddit social network has scored 20 thousand subscribers for several weeks, and the price of the coin increased by 300% to $ 0.002.
But the real popularity of the coin came when the community was united for charity. It turned out spontaneously - the first impetus to the union was the hacker attack on December 25, 2013. The hackers were stolen about 11 million coins, which at that time was $ 12,000. R / DOGECOIN users decided to throw off and fill damage to the victims of the attack. The campaign was called SAVEDOGMAS, in which 15 million DOGECOIN collected.
This was the starting point for the subsequent series of charitable shares. Thus, in 2014, Sibisites (from Siba-Ina) collected $ 30,000 for the Jamaician Bobsley team and $ 7,500 for the Indian Sannik Shiva Keshavan to send them to the Olympics in Sochi. These stories picked up leading foreign media, and about the dogecoin recognized the whole world. By mid-January, the volumes of daily transactions in the dogecoin network even briefly overtook Bitcoin and the remaining cryptocurrencies.
Scale and support
In 2014, Sibisse helped not only Olympic athletes: $ 50,000 were collected for the construction of water bodies in Kenya, $ 30,000 - to provide service dogs to children with disabilities, $ 55,000 - Joshu Wise from NASCAR to participate in the race.
A wide charitable community campaign caused a response in celebrity hearts. About their gratitude was reported by Snup Dogg, Carol Baskin, Kai Green, Jean Simmons and many others. Since September 2018, sympathy of the project has repeatedly expressed Ilon Mask, every time I cripmarked to new tops. He even noted that one day dogecoin can become the official currency of Mars.
Outcome
Dogecoin is no longer just cryptocurrency, but a brand with integral positive characteristics. This is one of the few projects that does not pursue capitalization as a priority goal. This quality allocates Ilon Mask in it, this circumstance makes the dogecoin so popular.
Prepared by the analytical group Stormgain using Coindesk.com materials
Read Original Articles on: Investing.com