CURRENT AFFAIRS

Detailed explanation-1: -Dogecoin features the face of the Shiba Inu dog from the “doge” meme as its logo and namesake. It was introduced on December 6, 2013, and quickly developed its own online community, reaching a market capitalization of over $85 billion on May 5, 2021. As of 2021, it is the shirt sponsor of Watford Football Club.

Detailed explanation-2: -Software engineers Billy Marcus and Jackson Palmer created Dogecoin in late 2013. Palmer branded the cryptocurrency’s logo using a meme popular at the time that featured the deliberately misspelled word “doge” to describe a Shiba Inu dog. “Doge was really started to poke fun at Bitcoin, ” said Pat White, CEO of Bitwave.

Detailed explanation-3: -Dogecoin was created in late 2013 by two software engineers, Bill Marcus and Jackson Palmer, who were working at IBM and Adobe Systems, respectively. It was created using the open-source code from Litecoin, which itself was a fork of the Bitcoin blockchain.

Detailed explanation-4: -The Dogecoin blockchain uses a proof of work consensus mechanism, where miners use computers to solve complex mathematical equations in order to process transactions and record them on the blockchain.

Detailed explanation-5: -Dogecoin (DOGE) is a peer-to-peer, open-source cryptocurrency. It is considered an altcoin and was launched in December 2013 with the image of a Shiba Inu dog as its logo.