Dogecoin

Dogecoin is an open-source, peer-to-peer digital currency that launched on 8 December 2013, originally created by software engineers Billy Markus and Jackson Palmer as a lighthearted parody of the cryptocurrency market, drawing on the popular 'Doge' internet meme. It is designed to serve as a straightforward medium for fast, low-cost payments and digital tipping between individuals anywhere in the world. There was no corporate backer, no public token sale, and no venture capital involved; the project is maintained by volunteers and the non-profit Dogecoin Foundation.

Dogecoin operates as a Layer 1 proof-of-work blockchain, using the Scrypt hashing algorithm and producing a new block roughly every 63 seconds based on a 24-hour average of 1,371 blocks per day. Miners compete to validate transactions and are rewarded with newly issued DOGE; the network also supports merged mining, meaning miners can simultaneously secure other Scrypt-based chains such as Litecoin without additional computational effort. DOGE is the native token used to pay transaction fees, which had a 24-hour median of roughly 0.000491 USD per transaction, and the full blockchain currently occupies about 181.98 GB.

Transaction fees on Dogecoin are paid by users who send transactions and are collected by miners as compensation for securing the network; the protocol itself retains no revenue, as confirmed by revenue figures of 0.00 USD over both the trailing 24 hours and the trailing 30 days. Total fees generated over the trailing 30 days were 23,302 USD, annualising to approximately 283,507.67 USD, while the trailing 12-month figure stands at 402,522 USD. Because protocol revenue is zero, any fee-based valuation ratios on this site — such as the market-cap-to-fees ratio of 46,611 — reflect only miner earnings relative to network size, not income accruing to a protocol treasury or token holders. Dogecoin also features an uncapped supply, with annualised inflation running at approximately 3.20 percent based on the last 24 hours of issuance, adding roughly 1,158,810.33 USD worth of new coins per day.