Why is Dogecoin Awesome?
Dogecoin uses peer-to-peer technology to operate with no central authority or banks; managing transactions and the issuing of Dogecoins is carried out collectively by the network. Dogecoin is open-source; its design is public, nobody owns or controls Dogecoin and everyone can take part. Through many of its unique properties, Dogecoin allows exciting uses that could not be covered by any previous payment system.
A Little History
The first few weeks after Dogecoin was released were incredible, it went from a being a silly joke to something worth something to people and a community was developing fast, with lots of people putting up services and infrastructure around it.
One of those things was an online wallet - instead of having to download the clunky and slow main client someone had provided a service to hold people's Dogecoin for them. Online wallets have a history of being sketchy, and sure enough, on Christmas, the wallet was hacked, and 21 million Dogecoins were stolen in the process.
This type of story was all too common in the cryptocurrency world, but what happened next was not. Some members of the community got together and started a Dogecoin fund to "Save Dogemas" - to try to return money to those who had lost it. The Dogecoin community donated millions of coins to help those who had been victims of the bad actor - and that spirit didn't stop, the community would donate Dogecoins for both good causes, such as helping build water wells in Africa, helping connect service dogs and kids, and silly and amusing causes, such as helping send the Jamaican Bobsled team to the Olympics, or sponsoring a Nascar driver.
How do you Pronounce Dogecoin?
According to the cryptocurrency's co-founder, Billy Markus, the correct pronunciation is "dohj coin."
What’s the True Value of Dogecoin?
Joy, kindness, learning, giving, empathy, fun, community, inspiration, creativity, generosity, silliness, absurdity. These are the things that make Dogecoin what it is and when the community embodies these things, that's True Value.