Tesla CEO Elon Mask and rapper Snoop Dogg sent out a
flurry tweets about the digital currency based on a meme ‘Dogecoin’, has
capture the public attention. A cryptocurrency that started as a joke back in
2013 by two engineers has now capitalization of $54 billion and a huge global
following. It is no longer a joke.
The two engineers, Billy Markus, software engineer
from IBM and Jackson Palmer, software engineer from Adobe had combined
successfully two of 2013’s greatest phenomena: “Bitcoin” and “Doge”. The result
is “Dogecoin”. The
two set out to make it “as ridiculous as possible” and centered
it on a popular internet meme of a Japanese Shiba Inu “Doge”. It has
officially went live on Dec. 6, 2013, and became an instant hit with the
community. Not only it was a comical cryptocurrency that could be easily mined
and cost of a cent to buy, but also the crassness of its creation came as a
pleasant breath of fresh air for many individuals who just wanted to experiment
with cryptocurrencies.
So,
what is the story behind Dogecoin's sudden rise to prominence? In summary, it
appears that the selfless community, the lighthearted origin of projects, and
its real-world application were key factors in dogecoin's early success in the
crypto market. Thanks to online communities and support from celebrities like
Elon Musk, Dogecoin has become a form of cryptocurrency avatar for meme culture
in recent years. DOGECOIN has gained in value as that culture has grown in
popularity, its designers never anticipated.
Contributor:
Aninda Jatirmay
Contact: ajatirmay@gmail.com
0 Comments