1 Hash Dogecoin DOGE Mining
Dogecoin Denominations DOGE, Dogecoins Nickname Doge Demographics Date of introduction December 6, 2013; 4 years ago ( 2013-12-06) User(s) International Valuation As of December 2017, over 112 billion coins had been mined. Dogecoin (, code: DOGE, symbol: Ð and D) is a featuring a likeness of the dog from the ' as its logo. Introduced as a 'joke currency' on 6 December 2013, Dogecoin quickly developed its own and reached a capitalization of 60 million in January 2014; as of December 2017, it has a capitalization of US$1 billion. Compared with other cryptocurrencies, Dogecoin had a fast initial coin production schedule: 100 billion coins were in circulation by mid-2015, with an additional 5.256 billion coins every year thereafter.
Apr 26, 2014 - As the first ASIC chip scrypt miners hit the market, we thought - Why not mine some altcoins? This $1,600 miner promises a total hashrate of 5.2M. We brought two of the two-blade miners into the. We decided to mine dogecoin and managed 100,000 doge with two miners in a week. That's not a bad start.
As of 30 June 2015, the 100 billionth Dogecoin had been mined. While there are few mainstream commercial applications, the currency has gained traction as an Internet system, in which users grant Dogecoin tips to other users for providing interesting or noteworthy content. A Dogecoin paper wallet Dogecoin was created by programmer Billy Markus from, who hoped to create a fun cryptocurrency that could reach a broader demographic than. In addition, he wanted to distance it from the controversial history of other coins. At the same time, Jackson Palmer, a member of ' marketing department in, was encouraged on Twitter by a student at to make the idea a reality. After receiving several mentions on, Palmer purchased the domain dogecoin.com and added a splash screen, which featured the coin's logo and scattered text. Markus saw the site linked in an IRC chat room, and started efforts to create the currency after reaching out to Palmer.
Markus based Dogecoin on an existing cryptocurrency, Luckycoin, which features a randomized reward that is received for mining a block, although this behavior was later changed to a static block reward in March 2014. In turn, Luckycoin is based on, which also uses technology in its algorithm. The use of scrypt means that miners cannot use bitcoin mining equipment, and that dedicated and devices used for mining are complicated to create. Dogecoin was officially launched on December 6, 2013.
The Dogecoin network was originally intended to produce 100 billion Dogecoins, but later, it was announced that the Dogecoin network would produce infinite Dogecoins. On December 19, 2013, Dogecoin jumped nearly 300 percent in value in 72 hours, rising from 0.00026 to $0.00095, with a volume of billions of Dogecoins per day. This growth occurred during a time when Bitcoin and many other cryptocurrencies were reeling from China's decision to forbid Chinese banks from investing into the Bitcoin economy. How Many Experience Points XP Have Been Mined To Date. Three days later, Dogecoin experienced its first major crash by dropping by 80% due to this event and due to large mining pools seizing opportunity in exploiting the very little computing power required at the time to mine Dogecoin. On December 24, 2013, The Reserve Bank of India cautioned users of cryptocurrencies on the risks associated with them. On December 25, 2013, the first major theft of Dogecoin occurred when millions of coins were stolen during a hack on the online platform Dogewallet. The hacker gained access to the platform's filesystem and modified its send/receive page to send any and all coins to a static address.
This hacking incident spiked tweets about Dogecoin, making it the most mentioned altcoin on Twitter at the time, although it was in reference to a negative event. To help those who lost funds on Dogewallet after its breach, the Dogecoin community started an initiative named 'SaveDogemas' to help donate coins to those who had them stolen. Approximately one month later, enough money was donated to cover all of the coins that were stolen. On January 2014, the trading volume of Dogecoin briefly surpassed that of Bitcoin and all other crypto-currencies combined, however, its market capitalization remained substantially behind that of Bitcoin. As of 25 January 2015, Dogecoin had a market capitalization of 13.5 million.
April 2015 Jackson Palmer announced he is taking an 'extended leave of absence' from the cryptocurrency community. In January 2018, Dogecoin reached $1 billion market cap.
Fundraising [ ] 2014 Winter Olympics [ ] The Dogecoin community and foundation have encouraged fundraising for charities and other notable causes. On January 19, 2014, a fundraiser was established by the Dogecoin community to raise $50,000 for the, which had qualified for, but could not afford to go to, the. By the second day, $36,000 worth of Dogecoin was donated and the Dogecoin to bitcoin exchange rate rose by 50%. The Dogecoin community also raised funds for a second Sochi athlete. Doge4Water [ ] Inspired by the Winter Olympics fundraiser and smaller charity fundraising successes, the Dogecoin Foundation, led by, began collecting donations to build a well in the Tana river basin in Kenya in cooperation with. They set out to raise a total of 40,000,000 ($30,000 at the time) Dogecoin before (March 22). The campaign succeeded, collecting donations from more than 4,000 donors, including one anonymous benefactor who donated 14,000,000 Dogecoin (approx.
NASCAR [ ] On March 25, 2014, the Dogecoin community successfully raised 67.8 million Dogecoins (around $55,000 at the time) in an effort to sponsor driver. Wise ran with a Dogecoin/-sponsored paint scheme at the. On May 4, 2014, Wise and his car were featured for nearly a minute, during which the race commentators discussed Dogecoin and the crowdfunding effort, while finishing twentieth and narrowly avoiding multiple wrecks. On May 16, 2014, Wise won a spot at the through an online fan vote beating household name, largely due to the efforts of the Dogecoin Reddit community. He finished the race in fifteenth, the last car running.
The following race in the, Wise debuted a Dogecoin/Reddit.com helmet. Wise later announced he would run the car again at the as a thank-you gift to the community and the. He finished twenty-eighth in the race due in part to a refueling issue; he was in twelfth place after a gas-and-go pit stop, but the gas can did not engage long enough, resulting in a second pit stop that took him towards the back of the pack. The developer of the video game announced that they are looking into adding the Dogecoin car as a drivable car in an upcoming DLC. Use and exchanges [ ] Several online exchanges offer DOGE/ and DOGE/ trading. Three exchanges, Mengmengbi, Bter and BTC38, offer DOGE/ trading. On January 8, 2014, AltQuick.co was the first exchange to launch DOGE/ exchange.
On January 30, 2014, Canada-based exchange Vault of Satoshi also announced DOGE/USD and DOGE/ trading. On February 2014, Hong Kong-based exchange announced that they would support the trading of Dogecoins in all major currencies. China-based exchange BTC38 also added their support on the Dogecoin exchange, boosting the market capitalization over 24 hours. In the first day of trading, Dogecoin was the second-most traded currency on the platform, after Bitcoin. On September 2014, UK-based exchange Yacuna began offering DOGE/EUR and DOGE/GBP trading. On January 31, 2014, trading volume across the major exchanges was valued at $1.05 million USD. The market cap was $60 million.
Three exchanges accounted for the majority of volume: Bter (60%), Cryptsy (23%), and Vircurex (10%). The most traded currency pairs were DOGE/BTC (50%), DOGE/CNY (44%) and DOGE/LTC (6%). Trading physical, tangible items in exchange for DOGE takes place on online communities such as and, where users frequently share currency-related information. On December 23, 2013, of the online journal Bitcoin Magazine discussed what was needed for Dogecoin if it ever wanted to have the success Bitcoin has had or to possibly replace Bitcoin. The first Dogecoin ATM was demoed at Coinfest in Vancouver in February 2014. Two Bitcoin ATMs supporting Dogecoins and other altcoins opened in on March 17, 2014. Dogecoin has also been used to try to sell a house, and has been used in the pornography and poker industries.,, and website 's creators Katia Eirin and Bennett Wong request tips in Dogecoin to maintain their website.
Dogetipbot was a cryptocurrency transaction service used on popular sites like and. It allowed users to send Dogecoins to other users through commands via Reddit comments; support for Twitch.tv and had been discontinued earlier.
The service was launched in 2013 on Reddit. The trademark 'dogetipbot' was officially registered on August 19, 2014. In November 2014, the developer team behind dogetipbot raised $445,000 in funding. In May 2017 Dogetipbot was discontinued and taken offline after its creator declared bankruptcy; this left many Dogetipbot users losing their coins stored in the Dogetipbot system. Over the years, many different tipping services have been created. Popular Dogecoin tipping services as of July 2017 Name Active Minimum amount Function Services Dogetipbot No 4 DOGE Tipping, Wallet Reddit, Twitter, Twitch.tv Doger Yes 1 DOGE Tipping, Wallet Freenode IRC(#Dogecoin) Sodogetip Yes 1 DOGE Tipping, Wallet Reddit ssoaker(works via Doger) Yes 1 DOGE per active user Tip distributing across active users Freenode IRC(#Dogecoin) Mining parameters [ ] Dogecoin's implementation differs from by several parameters.
Dogecoin's block time is 1 minute as opposed to Litecoin's 2.5 minutes. Several cases of using employer or university computers to mine Dogecoin have been discovered.
Dogecoin Core 1.8 Dogecoin Core 1.8 introduces AuxPoW from block 371,337. AuxPoW is a technology which enables miners to submit work done while mining other coins, as work on the Dogecoin block chain. Dogecoin Core 1.8 also enables payment protocol support for Dogecoin (note that Dogecoin's implementation of payment protocol is not compatible with Bitcoin's protocol). Lastly, 1.8 also includes all fixes from Bitcoin Core 0.9.2, whose release notes you can read at (this is a summary, and the release includes around 150 bugfixes from Bitcoin Core).
Note that all users MUST upgrade to 1.8. If you're unable to update before the switchover block (371,337, expected around 12 September 2014), you MUST update as soon as possible afterwards in order to be able to continue to use Dogecoin. Users remaining on the previous client will not be able to receive or spend Dogecoin (with the exception of with other nodes who have not upgraded). Upgrading Before upgrading, back up your wallet.dat file just in case of any problems; you can back up the wallet.dat file by using the 'Backup Wallet' option from the 'File' menu. Ensure your existing wallet software is closed before upgrading.
Note that a full reindex is required as part of the upgrade to 1.8, and this will typically take around an hour to complete. If you are running the Qt client you will be prompted to reindex when first running the software, while if you use 'dogecoind' you must run it the first time with the '-reindex' command line option. To ensure a smooth switchover to AuxPoW, 1.8 has safe mode disabled 1 hour before until 24 hours after the switch block. This ensures the actually legit fork will not trigger safe mode and halt mining. If you don't want to have this behavior, then refer to the 1.8-safemode branch.
This one doesn't include the patch to disable safe mode. Downgrading As 1.8 includes a substantial change to the mining protocol, downgrading to previous clients is not possible. AuxPoW AuxPoW is enabled from block 371,337. Until that block the RPC commands for using AuxPoW will not function, and AuxPoW blocks will be rejected. AuxPoW benefits Dogecoin in two ways; firstly, the effective hashrate of the coin is increased by these additional miners, making it harder to perform a 51% attack against the coin, and secondly it reduces conflict for resources (Scrypt miners), demotivating multipools from switching between Dogecoin and other Scrypt coins. AuxPoW blocks are mined using the 'getauxblock' and 'getworkaux' RPC commands.
Support for AuxPoW mining is included in Powerpool ( ) and p2pool ( ). In comparison to the AuxPoW implementation in United Scrypt Coin, Dogecoin uses a different coinbase transaction input script format which includes block height in compliance with BIP0034. Payment Protocol Dogecoin Core 1.8 adds payment protocol support, which is used to streamline payments being made to merchants. This protocol is defined in DIP0070-DIP0072, based on the BIP standards with the same assigned numbers.
DIP standards can be found. The key differencs between the Bitcoin and Dogecoin payment protocols are that the Dogecoin payment request uses a 'genesis' field containing the hash of the network's genesis block to identify networks instead of the 'network' field. Further, MIME types for the request, payment and response are modified to identify the files as distinct types from the Bitcoin files. Transaction Fees As of 1.8 all transactions have fees applied by defaults, with no exemptions made for 'old' coins. This ensures fees are consistent, while remaining extremely competitive (typically 1 Doge, or around $0.00012 per transaction).
RPC Allow IP The format of IP masks supplied to the 'rpcallowip' command line option has changed. It no longer accepts subnets like '192.168..' , and the format '192.168/16' should be used instead.
Other Changes The Chinese and Korean translations have been updated. Protocol version has been updated to 70003, meaning that a later release of the client can block access to all old clients (70002 and below). In case of an error reading the block database from disk, the database cursor could be left open, which caused an assertion error later. The database cursor is now correctly disposed of in all cases. Tweaked trigger conditions for safe mode to take into account the much faster block time of Dogecoin compared to Bitcoin. This should lead to less false positives. A problem in parsing mangled dogecoin: URIs under Windows has been resolved, and as part of this work network detection for dogecoin: URIs is now more robust.