Dogecoin, The 40 Million Dollar Joke That’s Hotter Than Bitcoin
Thanks to Elon Musk, the meme coin has gone up 5000% and turning fans into millionaires
It was supposed to be a joke. That’s what Billy Markus and Jackson Palmer said about inventing Dogecoin back in 2013.
It’s actually listed as a meme coin. Like the Doge meme that was everywhere. Their home page proudly displays the Shiba Inu that inspired the joke.
They were both software engineers. Markus was working for IBM and Palmer for Adobe when they created the cryptocurrency. They built it in just a few hours. For the lolz.
It was supposed to be a “faster but fun” alternative to bitcoin. Faster because dogecoin’s block time is approximately 1 minute, much faster than bitcoin’s average of 10 minutes.
Block time, if you didn’t know, is the time required to create the next block in a chain. Basically, the amount of time it takes for a blockchain miner to find a solution to the hash that creates another block in the blockchain.
Never mind that every block created in a crypto blockchain uses the same amount of energy that an average household uses in three weeks.
