#whatiscryptocurrency

Dogecoin is a cryptocurrency that began as a joke in 2013 but has grown into an important digital asset with interests of many investors and the public in general. 

At present, around $0.209197 is the market price of Dogecoin with market cap valued at about $30 billion making it number 8 among cryptocurrencies by capitalization (COIN360). 

The trading volume for the last day signifies that there are active trades amounting over $1.5 billion dollars’ worth of Dogecoins traded showing high interest from investors and buoyant trading (COIN360) .  

Why Is Dogecoin Going Up?  

Many factors have contributed to this rise in Dogecoin. Some of these include its strong community support, viral internet culture, and being supported by influential people such as Elon Musk who have played a crucial part in popularizing it. 

Furthermore, it serves as a tipping currency on social media platforms used by content creators and other individuals looking to express gratitude, which further boosts its adoption rate (CoinMarketCap). Additionally, inclusion in various projects plus acceptance by corporations like Tesla, AMC Theaters, or GameStop makes it usable outside the crypto world (CoinMarketCap). 

DogeCoin Investment Growth since Inception  

For instance, if we consider that Dogecoin’s price was around $0.0002 when it started then we can see how huge this growth has been as it currently sits at approximately $0.209197 meaning early investors would be sitting on massive portfolio gains. 

But whether or not profits will occur depends ultimately on initial investment amounts and periodic sales or additional purchases (COIN360) . 

Doge Market Capitalization and Current Price  

Dogecoin’s circulating supply comprises 143 billion DOGE coins implying that its current market value is approximated to be USD 30 billion (COIN360)  The only thing that keeps on changing is the price which is at present around $0.209197 (COIN360) . 

Dogecoin Use Cases and Price Influencers 

Originally, Dogecoin was meant as just a fun alternative to Bitcoin, but its utility has grown beyond that. It is now used for tipping content creators online, charitable donations, and as a payment method by several businesses. 

These factors include market sentiment from social media platforms, celebrity endorsements, speculative trading in the markets, and general cryptocurrency market trends (CoinMarketCap) (COIN360) . 

Dogecoin has moved from being a meme to one of the top cryptocurrencies highlighting how volatile and unpredictable digital currencies can be. The rise has been fueled by technology innovations combined with community interests alongside the direction of popular culture. Whether it continues upwards or faces a correction, this still makes for an interesting chapter within the ongoing narrative of crypto-currencies. 

what is cryptocurrency? technology has been transforming the way people communicate, work, play and even pay for goods. In today’s digital environment, both the businesses and the people don’t prefer to make transactions via cash anymore. This particular behavior is giving way for the people to adopt contactless payments such as mobile wallets like Paypal, Gpay, PhonePe and more. By using the smartphone, people can make payment for their purchases at digital registers. Cryptocurrency is a new digital payment system that enables people to make digital transactions.

Obviously, you may have already heard about Bitcoin by now and it is the first cryptocurrency to come online. However, there are more than 2000 cryptocurrencies that are steadily growing in popularity in the digital space. Although cryptocurrencies have been in the market for the last decade, the majority of the people don’t have a proper understanding of what exactly the cryptocurrency is. In this article, we have discussed everything you should know about cryptocurrency and its importance in today’s digital world.

The Cryptocurrency is just similar to the normal digital payment systems but the only difference is that it doesn’t rely on banks to verify transactions. Basically, it is a peer-to-peer system that enables anyone to send and receive payments from anywhere. In contrast to the physical money that is carried around and exchanged in the real world, cryptocurrency payments purely exist as digital entries to an online database which describe specific transactions. All the transactions made through the cryptocurrency funds are recorded in a public ledger. And you can store your cryptocurrency in a digital wallet.

One of the many things that originated after the dawn of digitalization is Cryptocurrency. A technological advancement at its best.

As intriguing as it sounds, the answer to the question - "What is Cryptocurrency?" is still not known to many.

But don't worry, this blog will serve its purpose and enlighten you about all cryptocurrency.

Cryptocurrency Meaning

As the name suggests, Cryptocurrency has a lot of things to do with cryptography and currency.

But in simple terms, Cryptocurrency is a "digital" capital which can be used to buy or exchange goods via the Peer-to-Peer mode over the online medium. This also means that it can be used as an alternative means to cash, checks and credit cards.

Having said that, the cryptocurrency transactions don't have a neutral third party (bank, PayPal, etc.), unlike conventional transactions. Inspite of this, it is highly secure because of the cryptography and the Blockchain technology.

History Of Cryptocurrency

The origin of cryptocurrency can be dated back to the 90s where digital currencies like Digicash, B-money, Bit Gold, etc. came up.

But the most successful cryptocurrency - Bitcoin appeared in 2009 via the anonymous individual (or a group) Satoshi Nakamoto.

The same year, Bitcoin was made public and allowed to be mined by the cryptocurrency enthusiasts.

Cryptocurrency Working

As said earlier, the cryptocurrency boasts about its highly secure nature. This is achieved with the help of blockchain technology and the network of computers.

Since no 3rd party is involved in the cryptocurrency transactions to manage the personal details, all the details are shared between the network. Meaning, each and every person can view the details of the transaction and account balance.

The cryptocurrency working can be elaborated as - when a cryptocurrency transaction is carried out, it is put under a block and a cryptic mathematical puzzle is generated. All the computers in the network start working on solving the puzzle. Once the solution is achieved, it is shared between the network to finally add the block (transaction details) in a chain, hence completing the transaction. Also, the first person to solve the cryptic puzzle is rewarded with the cryptocurrency (like Bitcoin) and this is simply referred to as cryptocurrency mining.

Note - Since we are on the topic of Blockchain technology, the new MLM software - FinoForce use this to give your MLM business an added boost of security.

Summing Up

Notably, cryptocurrency like Bitcoin is the new & secure way of transacting with the evolving business trends. All of this is achieved by the blockchain technology.

So, if you are looking to acquire some cryptocurrency, you can use cryptocurrency software, cryptocurrency exchanges or the process of cryptocurrency mining.