Although Dogecoin started off as a joke, the Shiba Inu based cryptocurrency has grown into a fully fledged peer to peer digital currency with a worldwide fan base of Shiba Inus. According to knowyourmeme.com, Doge is actually a slang for “dog” and its use of a misspelled word (d-o-g-e) actually dates way back even before Bitcoin came to fruition.
Where did the word Doge come from?
The first time the word ‘doge’ was used online was in June 2005 after it was mentioned in an episode of Homestar Runners (a long-running web-based puppet show based on a children’s book). In the episode, ‘Biz Cas’ distracts ‘Strong Bad’ from completing his third-quarter projection analysis spreadsheet project when he comes into the room and calls him his “Doge”.
Later in 2010, a Japanese kindergarten teacher posted a photo of a Shiba Inu dog she had rescued and adopted. The same photo was identified as the origin of the Dogecoin meme that later got popular online to become the mascot for the Dogecoin.
Dogecoin: focusing on charity and community
As you can see, Dogecoin was mostly created as a shits and giggles cryptocurrency that was meant to attract any lighthearted individual looking to have fun while donating to charity projects using cryptocurrency. However, in 2013, Dogecoin’s vision became pretty clear and what started out as a silly endeavor has over time turned into a serious project that is being used as internet money.
Dogecoin was built to be a community-driven cryptocurrency and the meme really helped spread the word about what Dogecoin was all about. In fact, it is this popularity that enabled the Dogecoin community to fund some worthy charity projects. These included a donation to Kenya’s water crisis back in 2014 and another partnership with a charity organization dubbed “Shibes for socks” to mention but a few.
Beware of scammers
Basically, even though some crypto enthusiasts have criticized Dogecoin for its lack of a clear technological standpoint, the coin has been the friendliest altcoin for beginners as it’s easy to use and requires zero technical know-how to understand its purpose. Plus the Dogecoin community is made up of individuals whose main purpose is to only do good as indicated on the Dogecoin Reddit page.
But let’s face it, Dogecoin’s journey has not all been smooth sailing. The coin has seen its own fair share of controversy. For instance, as more and more good intentional people have thrown money towards charity projects using the parody coin, the value of Dogecoin ( in the hundreds of millions) now has become like a drop of blood in the ocean that has attracted sharks in the form of a bunch of scammers. There have been constant reports of scammers taking advantage of the Dogecoin community sometimes even getting away with millions. The good news is that the Dogecoin community (especially on Reddit) has been really supportive of its members, to extent of donating some Dogecoin to those who had fallen victim to the scammers.
For the latest cryptocurrency news, join our Telegram!
Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.
Image courtesy of iamhenry via Flickr
TRON Partnership Involves Cloud Computing
It has been almost an entire week since Justin Sun, the founder of TRON (TRX), announced a new big partnership for this cryptocurrency. His Twitter announcement did not provide a lot of information, except for the fact that the TRON partnership is with an industry giant worth tens of billions of dollars.
— Justin Sun (@justinsuntron) October 12, 2018
Even so, the entire crypto community started speculating about the new partner’s identity. Soon after the announcement, a new rumor emerged, claiming that the identity of an unnamed corporation was uncovered. According to the rumor, TRON’s new partner is none other than Baidu, one of the largest tech giants of China, which also represents this country’s largest internet search provider.
Baidu is often viewed as China’s version of Google, and if the rumors of a partnership with this company turn out to be true, this will be a big game-changer for TRON.
However, in days following the announcement, new reports started coming in with claims that the partnership will not revolve around blockchain technology. Instead, ODaily reported that the alleged partnership between TRON and Baidu will be focused on cloud computing. The report claims that TRON will be purchasing computing resources from Baidu.
Will Ripple (XRP) advocacy hike affect bitcoin dominance of China?
Currently, China is leading in Bitcoin mining industry by far, second to none for bitcoin mining power. Literally, it’s contributing over 70% of the network’s hash rate (a term that is used in describing the total processing power of a blockchain network). But how Ripple fits in here and what it has to do with that? We’ll talk about that a bit later below, let’s cover some in-depth facts about China’s dominance over Bitcoin first.
It’s a near-complete dominance by China on the BTC mining grid that has made it responsible for mining a majority of circulating bitcoins. A Beijing-based company, Bitmain Technologies, is highly responsible for extracting the significant part – more than half of the globe’s bitcoin, and alone, it has approached 50% of the total hash rate more than once.
The fact that China is controlling a majority of Bitcoin hash rate, clearly tells that it has the power of manipulating or merely destroy the bitcoin network if it gets enough support should it decide to take such a move. Therefore, this has led to serious concerns among countries including the US that China might get an edge in this cryptocurrency industry and possibly becoming a potential threat.
China is the biggest manufacturer of Bitcoin as well as cryptocurrency mining equipment. The reason behind the massive growth of mining farms in the country is because of cheap electricity bills.
Furthermore, the country has adopted several…
Ravencoin (RVN) Surges Following Binance Listing
While most cryptocurrencies today still remain unstable and at the edge of falling into the red, there are some coins that are doing significantly better. One such coin is Ravencoin (RVN), which has surged by over 26% in the last 24 hours.
Ravencoin came to be as a hard fork of Bitcoin and was inspired by a popular book series-turned-television programme, Game of Thrones. The coin’s developers decided to make Ravencoin an open-source project that provides users with the ability to declare assets on their platform. The platform itself is decentralized, transparent, and secure.
Just as Game of Thrones’ ravens are used for spreading the news and truth, Ravencoin hopes to become a carrier of truth regarding the ownership of assets on the blockchain.
Ravencoin’s main use case is for performing P2P transfers, while it prioritizes security, autonomy, user privacy, and control. Additionally, as a coin fighting for truth and transparency, it also stands against censorship.
Ravencoin got listed on Binance prior to MainNet launch
Following the last week’s announcement that Ravencoin is getting officially listed on Binance, the world’s largest cryptocurrency exchange ba trading volume, Ravencoin experienced a large price surge. At one point, the surge took the coin’s value up by over 31%. At the time of writing, however, the coin is still growing, with an increase of 26.15% in the last 24 hours.
Getting listed on Binance has brought Ravencoin to the top…
Using Blockchain with Benefits to Your Business: Simple Explanations
Elon Musk hits the world of cryptocurrency
Ripple’s David Schwartz: ‘The XRP ledger is decentralized’
Don't Miss2 weeks ago
Exclusive: Ripple (XRP) to be exhibited at SWIFT’s Sibos conference
Altcoins1 week ago
TRON TRX: A Perfect Way To Bring Games To Blockchain
Altcoins2 weeks ago
Electroneum (ETN) on the rise, can it make to highest market cap coins?
Altcoins2 weeks ago
Why is xRapid not bringing XRP price up?
Don't Miss1 week ago
Exclusive: Singapore to develop Ripple (XRP)-powered invoice trading platform
Altcoins2 weeks ago
You think Tron (TRX) looks good? It’s even better
Altcoins5 days ago
Electroneum (ETN) investors can have a broad smile on their face
Altcoins1 week ago
Moeda Loyalty Points (MDA) Up Over 300% This Week – But Why?