How does Dogecoin work?
Dogecoin is a decentralized, open-source cryptocurrency that was created in 2013 as a joke.
It is based on the popular "Doge" meme featuring a Shiba Inu dog. Dogecoin has become popular due to its low transaction fees and fast transaction times. Dogecoin works like other cryptocurrencies, such as Bitcoin or Litecoin.
It uses a blockchain to record and verify transactions, and miners use their computing power to secure the network and process transactions. When someone sends Dogecoins, the transaction is broadcast to the network and verified by miners. Once it is verified, it is added to the blockchain and the new balance of Dogecoins is updated for both parties involved in the transaction.
Dogecoin also has an active community of users who use it for tipping online content creators or for charitable donations. The Dogecoin Foundation was created in 2014 to help promote the use of Dogecoin for charitable causes. The foundation has organized several fundraising campaigns for various causes such as clean water projects in Kenya and disaster relief efforts in Japan.
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