Dogecoin operates using a blockchain, a distributed and public ledger where all transactions are recorded. The network is secured through a system called proof-of-work, where miners use computational power to solve complex mathematical problems. When a problem is solved, a new block is created and added to the blockchain, and miners are rewarded with newly issued DOGE. Each transaction is verified and recorded in this decentralized network, ensuring that no single entity has control over the cryptocurrency. Dogecoin's fast transaction times and low fees make it ideal for small and frequent transactions.

Why does Dogecoin exist?

Dogecoin was originally created as a parody of the rapidly growing cryptocurrency market, but it has since taken on a life of its own as a user-friendly and community-driven cryptocurrency. One of the main purposes of Dogecoin was to make cryptocurrency more accessible and less serious for the general public. Dogecoin has also played a significant role in various charitable campaigns and fundraisers, demonstrating its potential for social purposes. Dogecoin's friendly and inclusive community has contributed to its popularity and continued use as a cryptocurrency for small transactions and tipping on the internet.