Dogecoin is an unlikely cryptocoin experiment that, against the odds, has taken off - mainly as a digital tipping tool for sending tiny amounts of value.
Dogecoin might be the blueprint for how to make a true microtransactional cryptocurrency, a next-gen coin that could compliment bitcoin payments.
What is not conjecture is that people sure do like to spend tiny bits of dogecoin.
Dogecoin is being used mostly for small transactions, as a way to show deference for something.
Many in the community accept dogecoin tips, and it seems people are willing to oblige.
According to BitInfoCharts, dogecoin averages 800 transactions per hour, and 19,000 over a 24-hour period - which is second only to bitcoin.
Palmer likened the dogecoin tip as a new way to share or 'like' something on the Internet.
"It's about enabling these frictionless microtransactions. I think that's where dogecoin fits in," he said.
Dogecoin is doing many more transactions than its block chain is showing.
Palmer doesn't necessarily think that modifications that are found to improve dogecoin will be implemented into the bitcoin core.
Dogecoin's Jackson Palmer on Fast Transactions and Many Tips
Published on Mar 28, 2014
by Coindesk | Published on Coinage
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