DOGEUSDT20241107P610
Dogecoin / Tether USD Nov 7 2024 610.00 Put
crypto

Dogecoin is a playful cryptocurrency popularized by adopting the Shiba Inu internet meme. Dogecoin is a fairly-launched coin based on the structure of an existing project, Luckycoin, which itself is a code base fork of Litecoin, and arguably enjoys one of the most decentralized peer-to-peer networks after Palmer left the project. New blocks are added to the chain every 60 seconds, on average. Dogecoin uses scrypt hash function for its proof-of-work consensus mechanism. The scrypt algorithm was specifically designed to make it costly to perform large-scale, custom-hardware attacks. At launch, Dogecoin was mine-able on personal computers, which was attractive to cryptocurrency enthusiasts during a time when Bitcoin mining was increasingly industrialized and capital intensive. Dogecoin has no formal white paper, although several fans have written blog and forum posts as stand-in explainer documents.