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
Coinage
Mentioned in this article
Recent News
View All
Another mainstream company is seeking approval to invest in crypto
Anthony Scaramucci's investment firm, SkyBridge, seeks approval from the SEC to invest in crypto.
COVID-19 popularized decentralization, but blockchain may not catch on
On Nov. 9, drugmaker Pfizer announced that its COVID-19 vaccine is 90-plus percent effective, and even though it may be premature to proclaim the pandemic's end - as the virus continues to rage in the United States and Europe - once can at least speculate: Where will blockchain adoption stand when the crisis abates?
Bitcoin hits new 2020 high at $16.7K -Traders expect bigger breakout
The price of Bitcoin hit a new yearly high at $16,717 on Binance.
The next big crypto market could be fantasy sports, says Messari
As "Digitally native" ecosystems like esports continue to synergize with blockchain technology, industries like fantasy sports could be primed for mass adoption, says digital research firm Messari.