Updates from the Bitcoin.com Team

The Bitcoin.com Company Blog

Cryptocurrency

Bitcoin.com Exchange partnering with Mercuryo

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While it’s been more than 10 years since the inception of Bitcoin, buying crypto via bank transfer or with bank card still remains a challenge. For one, oftentimes traders can only buy cryptocurrency with a specific currency, not their local currency, and secondly, some fiat-to-crypto payment gateways charge quite high transaction fees.

At the Bitcoin.com Exchange, we’re dedicated to making it easier for anyone to get into crypto, regardless of where they’re from and what their level of expertise is. Therefore, we’re partnering with Mercuryo, a leading cryptocurrency payment provider, to make buying crypto on our exchange easier. 

Mercuryo is a fast-growing fintech company that was founded in 2018 in Estonia and has since expanded to operate worldwide with offices in Tallinn, London and Moscow. Thanks to the integration with Mercuryo, traders on the Bitcoin.com Exchange will be able to benefit from a wider range of currencies they can use to purchase bitcoin, such as Euro, the USD, Ruble and the fast verification process. 

All data taken by customers is treated according to PCI DSS international security standards which include tight control measures surrounding storage, transmission and handling of data collected. It’s the same standard used by traditional payment processors such as Visa or Mastercard. 

Traders that want to buy crypto on the exchange simply need to head to their wallet and click on the “Buy crypto with a bank card” button. On the widget that appears, they can then specify the amount they want to purchase and below pick between different payment providers. This is where Mercuryo will be added as another attractive option to pick. 

With high transaction speed, a comprehensive fee structure and a network of over 200 diverse partners as well as a customer base surpassing 650,000 users Mercuryo is a trusted payment provider for anyone looking to buy the first or hundredth crypto. 

As Danish Chaudhry, CEO of the Bitcoin.com Exchange puts it:

“We’re thrilled to add Mercuryo to our payment providers. As a well-established player, they bring peace of mind as well as attractive buy options for our traders to the table. We’re looking forward to working together with the team and increase the adoption of cryptocurrencies.” 

Danish Chaudhry, CEO Bitcoin.com Exchange

Mercuryo is now integrated with Bitcoin.com Exchange. To buy crypto on our exchange, go to the “Buy crypto” tab and pick Mercuryo at check-out.

To learn more about Mercuryo, visit their official channels: 

Website : https://mercuryo.io

LinkedIn: https://www.linkedin.com/company/mercuryo-io/

Twitter: https://twitter.com/Mercuryo_io

Filed Under: Announcements, Exchange Tagged With: ,

Redd: The Social Currency

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Many cryptocurrency developers are focused on solving problems encountered in the traditional financial system. Issues like unfair lending practices and lack of access to financial services have inspired a wide array of digital projects in the Decentralized Finance space. Redd, formerly known as Reddcoin was inspired to optimize any area of the digital landscape that has experienced exponential growth over the past decade: Social Media. 

Redd makes it easy for anyone to get paid for social media posts and content across the web. Dubbed “The Social Coin”, Redd facilitates quick and easy transactions between users, perfect for fee-free tipping on social media posts. 

Driven by a dedicated team of volunteers, Redd was released in 2014, and has been compared to multiplatform, blockchain-based Patreon in the past. Users can already be paid in Redd on platforms like Twitter, Reddit, Twitch and YouTube. 

The team also runs the independent  Social Media platform, Reddcoin Talk, which hosts a community of over 60,000 members spread across 50 countries worldwide. 

Proof of Stake Velocity

One interesting feature of the Reddcoin blockchain is its unique consensus algorithm: Proof-of-Stake-Velocity. When Bitcoin was created, the Proof-of-Work algorithm solved the problem of double spending elegantly and efficiently. As mining hardware has advanced though, individual miners have been replaced by large mining operations the world over. 

As Bitcoin’s energy consumption has come under fire over recent months, blockchain projects have to employ different algorithms to achieve consensus. As a fork of the Litecoin blockchain, Redd switched from Proof of Work to a proprietary algorithm that combines Proof of Stake and the velocity of the currency to achieve consensus.

Proof-of-Stake has been criticized for encouraging accumulation rather than spending in the past, but the Reddcoin team skirted this pitfall by introducing the concept of velocity into the equation. A currency’s velocity is the number of times a unit of currency changes hands within a specified period of time. As a rule of thumb, the higher the velocity, the more likely it is that an economy is flourishing and members are doing well. 

This unique algorithm encourages users to mine, spend and tip Reddcoin, rather than simply accumulating the currency. By connecting Reddcoin wallets to the internet, everyday users can participate in the mining of the cryptocurrency. Additionally, a penalty is levied on inactive nodes, which again incentivizes active participation in the network. 

PoSV v2

Since moving from Proof of work to PoSV, the Redd team has been continuously working on bringing further improvements to the network. One of them was implementing a second version of the PoSV algorithm in 2020, which enhances stake rewards for actively participating users and provides a revenue stream for developers to fund operational costs and provide further financial support.

We’re excited to announce that Reddcoin has joined Bitcoin.com Exchange. You can trade RDD today with BTC. 

Filed Under: Exchange, Listing Tagged With: , , , ,

The Graph making Blockchain queries easy

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The average app-user doesn’t spend a lot of time thinking about what happens in the background of the applications we use on a daily basis. With the advent of decentralized applications, an interest in distributed computing has piqued amongst blockchain developers. While many of these apps are decentralized on the back-end, many more use centralized computing resources like Google Cloud and Amazon Web Services to get the job done.

The Graph introduces an often forgotten but crucial part to the existing blockchain infrastructure. Decentralized indexing enables the organization of blockchain data into open and easily accessible APIs that are called Subgraphs. Developers can then access and search these subgraphs to build their blockchain apps.

In common terms, imagine you wanted to find out how many crypto punks a certain wallet address owns and at what price they acquired their first crypto punk. If you don’t want to go through that process manually — and when this is done for an app, you can’t have an intern sit in the backend searching everything manually. With Graph protocol, the first step would be to compile the data. It is then indexed into a subgraph that manifests interest for it and includes events the contract needs to pay attention to and how the event data should be mapped to other data that Graph stores in its database.

When this process is complete, you can query all the data to answer whichever cryptopunk related question you had by using the graphQL API.

To make this possible, four different kinds of participants play a crucial role in the graph network: indexers, curators, delegators, and consumers.

Curators: Curators are in charge of curating blockchain data and assessing which subgraphs of high quality need to be indexed. To signal which subgraphs are of more importance, they attach the network token GRT to it.

Indexers: Indexers operate nodes and earn rewards for querying and indexing. They select subgraphs based on their curation signal and prioritize them accordingly to be indexed. When indexers add incorrect data or act maliciously, the GRT they hold can be slashed.

Delegators: delegate their GRT holdings to indexers to contribute to running the network.

Consumers: companies or individuals looking to add blockchain data to their apps and services. They pay for using the Graph network in GRT.

To compensate network participants for keeping things running, all participants are rewarded with a portion of the platform’s network fees. GRT, an ERC-20 token is the native currency of the protocol, and is used for all payments and rewards.  With an initial supply of 10 Billion GRT, the developers announced plans to burn 1% of GRT in circulation every year.

The Graph has already been implemented across various popular platforms in the blockchain space. Decentraland, a blockchain game with NFTs, uses the graph to find and list items from other apps on their marketplace, enabling users to buy in a centralized place.

The decentralized exchange Uniswap also uses the graph to access historical trading and price data and conduct analytics. The lending platform Aave employs the graph data to monitor their contracts, check for trade history, and analyze liquidity on the platform.

While invisible to the end-user, the graph is already powering various crypto companies and will continue to do so. With backing from known blockchain investors such as coinbase ventures and the digital asset group, the graph makes it easy for developers to build dApps decentralized on all levels. This full-stack decentralization makes them robust and facilitates interoperability. As GRT is the only way to pay for using these vital services, it’s an asset to watch out for.

GRT is now trading on Bitcoin.com Exchange with BTC and USDT pairs.

Filed Under: Exchange, Listing Tagged With: , , , ,

BitcoinVend AMA

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We’re excited to share the guests for our next AMA, that’ll take place on Tuesday, May 25th at 17:00 UTC in our telegram community channel.

We will be joined by Joe Jewson, who is Co-Founder and Marketing Manager of BitcoinVend. BitcoinVend is an easy-to-use, purpose-built smartphone app that gives individuals and businesses access to the most important components in any functioning ecosystem, all in one place.

To learn more about the ecosystem and the native BCTV currency, join our AMA and ask us anything.

We will be giving $20 in BCVT to the 5 best questions asked to the AMA so get ready and save the date.

Terms and Conditions apply.

You can learn more about BitcoinVend on their website.

Terms and Conditions

  1. Winners will need to provide us with their e-mail address linked to their Bitcoin.com Exchange account.
  2. We will contact all the winners via telegram, so please don’t change your telegram name for 24 hours after the AMA.
  3. If winners don’t respond within 3 days after the AMA, they will not be eligible for the prize anymore.

Filed Under: Exchange Tagged With: , , ,

Introducing BitcoinVend: A whole economy in a single app

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When Satoshi Nakamoto created Bitcoin, the anonymous mind behind the digital currency envisioned making a trustless payment system to enable trade on a global scale. While Bitcoin has come a long way since then, it’s still hard to purchase goods and services using Bitcoin or any other crypto. 

When wanting to purchase something with crypto, most users are reliant on a crypto/fiat conversion somewhere along the way unless merchants accept crypto directly without the assurances they are receiving a stable fiat currency. 

To drive wider adoption, an ecosystem covering consumers as well as merchants, employers, and service providers is needed. This ecosystem needs to process multiple cryptocurrencies, offer protection against fluctuating prices, and settle transactions without any delays in order to work flawlessly. 

Enabling users and merchants to interact and transact without relying on a fiat conversion, BitcoinVend proposes such a novel new system.

BitcoinVend is an easy-to-use, purpose-built smartphone app that gives individuals and businesses access to the most important components in any functioning ecosystem, all in one place.

BitcoinVend brings together: 

  • A Marketplace: Through which app users can buy and sell more or less anything, be it a physical product, digital product, or service
  • A Payments Solution: All payments settle instantly or are protected by a built-in escrow 
  • An exchange: that functions similarly to other peer-to-peer crypto exchange platforms or like a traditional brokerage.

Collectively, these features enable any type of user to spend or accept cryptos, buy and sell goods and services getting paid in crypto, and swap between different cryptos at will – without technical jargon, heavy fees, or any fuss at all for that matter.

The founder of BitcoinVend explains that “We’ve created a straightforward product that anyone can easily use. If you can turn on your phone, you can use BitcoinVend.”

Unlike most other crypto apps which focus heavily on trading and investing. BitcoinVend is all about giving cryptos purchasing power in the real world, with exchange features tied in to ensure a seamless transition between different assets. 

In the app, users build up their reputation and risk losing it through bad acting, disputes are solved through community mediators who must first prove their worth, and users also take care of policing the marketplace like private investigators for which they will be rewarded bounties. 

The BitcoinVend Token (BCVT) eliminates fees entirely for users who stake or lock it within the app. It can be used like any other supported tokens to purchase items or services from other users and in the future will have additional use cases such as voting and charitable activities intended to distribute crypto far and wide to those who need it most.

Their unique and clever system brings together all the key elements required to integrate crypto into everyday life, business, and the world whilst keeping it simple, significantly reduces the barrier to entry, and strips out all the technical jargon.

With cutting edge wallet and settlement infrastructure built into a simple interface, and cost-free use for premium members who hold their token, BitcoinVend incentivizes the existing community to start using their crypto in the real world whilst making it possible for the rest of the world to get involved – the only barrier to entry here is a Smartphone! 

In summary, BitcoinVend makes crypto simple for everyday people whilst appealing to the savvy crypto investor or trader looking to spend their tokens without converting to fiat.   

The BCVT token is now listed on Bitcoin.com Exchange with BTC, ETH, and USDT trading pairs. 

To learn more about the project ecosystem, head to the BitcoinVend Website or follow them on Twitter. 

Filed Under: Exchange Tagged With: , ,

Efforce: Enabling Energy Efficiency with Blockchain

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When thinking about climate change and ways to reduce CO2 emissions, the first ideas that may come to mind are flying less, switching to EVs, and consuming less meat. 

These are all great ideas, but it’s also important to reconsider how we consume energy. In recent years, efforts for creating more green energy sources have expanded greatly, but another way to reduce carbon emissions is to increase the energy efficiency of existing buildings, machines, and modes of transportation.  

Energy efficiency is a growing market that has already reached more than $241 billion and is expected to continue growing for the foreseeable future. With a projected growth of 10% per year, the energy efficiency sector will soon become one of the most capitalized green initiatives in the fight against climate change.

But what exactly does energy efficiency mean? Energy efficiency refers to “the ability of a physical system to obtain a given result using less energy than other so-called “lower efficiency” systems” according to the Efforce whitepaper. This means that achieving energy efficiency can increase yields and allow for greater energy savings.

This seems like a no-brainer, but more than 68% of energy used today can be used more efficiently by adhering to new energy efficiency standards. By increasing energy efficiency across the board, countries can reduce their reliance on oil and gas.

With technological advances and increasing digitization, the energy efficiency sector is in the process of modernizing. Though energy efficiency is something that everyone can take part in, as an industry, it remains  a complex market with high entry barriers. One of the major difficulties in executing energy efficiency projects is bringing savers and contributors together, raising the capital required, and ensuring financial returns for investors. 

Efforce is a blockchain company set to address these issues. A major concept of the Efforce project  is tokenizing energy saved. By tokenizing energy savings, Efforce has built continued liquidity into its infrastructure, and extends access to capital investment through these savings. The token representing energy savings on the Efforce platform is WOZX. By securitizing these savings, Efforce is following its vision of connecting supply and demand of energy efficiency investments by harnessing the power of blockchain. 

As a result, they remove several of the hindrances that investors currently face, including high initial cost, missing trust, lacking technical knowledge, and uncertainty over payback. 

The process of Efforce mirrors the process in the real world in which energy services companies (E.S.Co) obtain positive economic returns against their initial investment through so-called energy performance contracts (EPC). 

Execution of Energy Efficiency Improvement Projects 

On efforce, anyone can submit a request for an energy efficiency improvement project secured by the decentralized ledger technology. Energy service companies will then evaluate those proposals, and if they are happy to work on that improvement, they can implement the measures to increase energy efficiency. For the duration of the contract, the beneficiary will be paying part of the energy savings generated (in the form of WOZX). Once the contract ends, beneficiaries take full advantage of the energy savings generated by the improvement project. The financial investments are fully carried by the Energy Savings companies, which aligns incentives as E.S.Co’s benefit more the higher the energy savings are. 

The use of immutable blockchain technology ensures the integrity and uniqueness of data. The data is generated by smart meters that are equally certified on-chain. 

All energy savings are securitized, and 1% of all energy savings obtained are donated and distributed among all Efforce token holders. Despite receiving these “dividends,” token holders can also participate in efficiency improvement projects and vote in governance decisions, including on the ratio of redistribution. 

Unlike mining in other cryptocurrencies, which involves using computational power to solve a puzzle, efforce mining relies on increasing the number of savers and contributors to the platform. 

Efforce Mining

Two different types of mining are possible with Efforce: major partner sign up and funding partner contribution. As the name suggests, major partner sign-ups involve bringing a company to Efforce to launch funding round for their energy project. For bringing a new company to the platform, up to 30% of the total amount allocated for this type of mining can be earned. 

The funding partners’ contribution rewards go to individuals or companies that invest most into energy improvement projects. The remaining 70% of tokens allocated for mining per year will go towards these. 

The total supply of Efforce tokens is: 1,000,000,000 and no new tokens will ever be created. Tokens will be released according to the lock-up policy laid out in the Whitepaper. Of the total supply, 20% are allocated for Mining rewards. 

As an ERC-20 token, WOZX can be stored in the common ERC-20 wallets like meta mask or on hardware wallets such as ledger or trezor. To buy, sell and trade the WOZX token, head to Bitcoin.com Exchange. WOZX can be traded with USDT and ETH. 

To learn more about Efforce, check out their website or follow them on Twitter.  

Filed Under: Exchange, Listing Tagged With: , ,

Bird will be listing on Bitcoin.com Exchange.

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On April 7th. BIRD by Bird.Money will be listed on the Bitcoin.com Exchange paired with USDT and BTC. 

BIRD is the native token of the Bird.Money platform. This data-driven digital lending solution addresses one of the biggest challenges that DeFi lending platforms and users face today: a lack of transparency. 

In the traditional financial system, lenders rely on credit scores to assess the worthiness of a potential borrower. Credit scores aggregate data from an individual’s financial history and represent an individual’s overall creditworthiness in a single number. This number is comprised of data ranging from transaction history, amount of current debt, and can sometimes even be affected by whether an individual is registered to vote. 

After compiling all this data, the credit score lets financial institutions calculate the risk of loan default. An individual who consistently pays bills on time will have a higher credit score and will be considered to be less of a risk to the lending institution. 

Due to the nature of the Decentralized Finance ecosystem, centralized credit scores don’t exist. Lending platforms within this ecosystem are made up of smart contracts that don’t have access to data stored outside of the blockchain. This limits the available data for lenders and borrowers to the transaction history of any particular wallet. 

Bird.Money is a non-custodial digital asset platform that leverages off-chain oracle analytics to bridge the gap between off-chain data and on-chain lending. By providing off-chain analytics to lenders and investors, this next-generation lending platform helps digital lenders reduce the risk of defaults. 

The Bird.Money Oracle pulls data such as trust ratings, blacklisted accounts, defaults, liquidations, scams and known hackers from its data providers and feeds them towards credit assessment. The more transparent the view on a potential borrower is – and the more trustworthy they seem – the better. Users that supply additional information such as prior transaction history will be able to borrow assets without having to post more collateral. 

Borrowing in DeFi lending platforms usually requires a collateral deposit that surpasses the value of the loan taken out. For example, to take out $100 DAI in Maker at a collateralization ratio of 66%, borrowers would have to deposit $166 worth of ETH to access that loan. By providing further information to Bird.Money, investors can access additional capital, increasing the ratio of what they can borrow on their collateral up to 85%. 

BIRD is the token at the heart of the Bird.Money ecosystem. Data Providers running Oracle nodes can earn BIRD by providing data on borrowers, and Data Consumers – entities giving out loans – can purchase data using BIRD. 

Additionally, the team behind BIRD recently announced a partnership that will allow BIRD holders to stake their tokens, and a yield platform will be released shortly. 

“With DeFi lending platforms booming, we’re thrilled to be supporting a project like BIRD that is providing an exciting way of increasing transparency while benefiting borrowers and lenders alike.“

Danish Chaudhry, CEO Bitcoin.com Exchange

Luciano Sebastian from Bird.Money also hailed the listing of the BIRD token on Bitcoin.com Exchange:

“We’re extremely excited to be listing BIRD on one of the premier exchanges in the space, further increasing access to our token as we continue to shape the future of DeFi and lending.”

Luciano Sebastian

With the popularity of Decentralized Finance and digital lending platforms ever-increasing, risk management for digital lenders will become increasingly important. The team at Bird.Money is constantly innovating to address the risks for tomorrow’s digital lenders. 

To find out more about BIRD, visit Bird.Money today! 

Filed Under: Announcements, Exchange, Listing Tagged With: , , , ,

$7000 Pastel Trading Competition

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From the 5th of April 0:01 UTC until the 14th of April at 23:59 UTC we will be running a $7000 PSL trading competition. The top 20 traders with the highest trading volume on our PSL/USDT trading pair will be sharing a prize pool of $7000.

  • 1st $2000
  • 2nd $1100
  • 3rd $850
  • 4th $500
  • 5th $300
  • 6th- 20th $150

Terms and Conditions apply.

Terms and Conditions

  1. “Trading Volume” is defined as the sum of a trader’s total buys and sells (excluding wash trades) of PSL/USDT trading pairs on Bitcoin.com Exchange. We calculate Trading Volume in the following way: Trading Volume = Sum (executed buys of PSL/USDT pair ) + Sum (executed sells of PSL/USDT pair).
  2. Winning traders will be notified by email and rewards will be deposited to their Bitcoin.com Exchange PSL wallets within 3 weeks after the end of the promotion period.
  3. The trading competition runs for days from Monday, April 5th 00:01 UTC until Wednesday, April 14th, 23:59 UTC.
  4. Participation in the $7,000 Pastel Trading Competition is limited to one trader account per legal or natural person. Persons found to have competed with more than one trader account will be disqualified from the competition.
  5. Please note in the event of disqualification of any participants due to a breach of the terms and conditions of the trading competition, the leaderboard ranking might not be adjusted.
  6. The $7,000 Pastel Trading Competition and the $3,000 PSL Deposit Promotion are hosted by FMFW Ltd (the “Bitcoin.com Exchange”) and the terms and conditions of this competition form part of the User Agreement. The Bitcoin.com Exchange reserves the right to cancel it or amend its terms or conditions unilaterally without prior notification.
  7. By participating you confirm the following: “I accept that any fictitious transactions aimed at artificially increasing the trading volume (wash trades, arbitrage trading between two or more exchanges, trading from multiple accounts, as well as an unfair use of multiple trading pairs aimed at increasing the trading volume of a participant), will lead to my being excluded from the competition. Bitcoin.com Exchange’s decision is final and binding”.
  8. Bitcoin.com Exchange will use the ad hoc average daily closing prices of the PSL/USDT trading pair during the competition period as the PSL/USDT exchange rate for PSL distribution. For an explanation of the calculation of the ad-hoc average daily closing rate, refer to this article .
  9. All terms of use and other policies as found on exchange.bitcoin.com website are applicable.

Filed Under: Exchange Tagged With: , , ,

JulSwap and JustLiquidity will be listed on Bitcoin.com Exchange

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Trading will start on March 17th

Over the past few years, Decentralized Finance, or DeFi, has been one of the biggest trends in the blockchain sphere. Though the term DeFi was relatively unknown 2 years ago, it seems as though a new record for value locked in DeFi is set every day. 

Today, there is a robust ecosystem supporting DeFi. Some of the key players in the whole system are decentralized exchanges, which allow traders to trade on a peer to peer basis without relying on a central exchange. Unlike central exchanges, where the order book and execution of trades are overseen by a single company, decentralized exchanges (DEX) are run completely on blockchain technology. 

As the DeFi phenomenon grows in scope, one of the biggest challenges for traders has been getting orders filled in a timely fashion, as decentralized exchanges typically have less liquidity than centralized platforms. To address these issues, newer exchanges are running specific protocols to ensure liquidity. One such exchange is the widely popular DEX Uniswap.

Built upon the Ethereum blockchain, Uniswapwas launched in 2018 and has one of the highest market capitalizations amongst DeFi projects. The service combines 2 different contracts in its protocol: a decentralized exchange and one “factory” contract. These aspects work hand-in-hand, with the factory contract facilitating the addition of new tokens to the platform while the exchange executes swaps (or trades) from one token to another. 

The liquidity problem is solved by incentivising traders on the platform to become liquidity providers. Tokens of participating traders are pooled and provide liquidity and in return, traders who provided tokens will receive a share of trading fees. 

If you’ve been wondering why we’re covering Uniswap when this is an announcement of the listing of JulSwap, it’s because JulSwap is the equivalent of UniSwap with the difference that it’s running on Binance Smart Chain rather than Ethereum. 

JulSwap offers the same trading engine and analytics as Uniswap, and complements them by features from SushiSwap. The JustLiquidity Protocol employed by JulSwap ensures that traders won’t have to wait long for orders to be filled, while the platform’s Token Bridge lets traders use both ERC20 and BEP20. 

JulSwap is fueled by the platform’s native tokens JulD and Julb, which will be listed on the Bitcoin.com Exchange on Wednesday, March 17th 10:00 UTC with BTC and USDT pairs. 

“We’re exhilarated to be providing a venue for JulSwap’s tokens and to increase our DeFi offering. We believe that in the future DEX and CEX will be acting in a complementary manner to provide traders of any sort the perfect platform to manage their crypto portfolios.”. – Danish Chaudhry, CEO Bitcoin.com Exchange. 

To learn more about JulSwap, check out their website or join their community. 

Filed Under: Announcements, Exchange Tagged With: , ,

The much awesome Dogecoin

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Do you know what Carole Baskin, Elon Musk and Snoop Dogg have in common?

Over the years, all have come out in support of Dogecoin.

So what is Dogecoin all about?

Dogecoin was created in 2013 by Billy Markus and Jackson Palmer. The pair created the currency as a joke, adopting the at-the-time- ubiquitous Shiba-Inu from the “Doge” meme to be the mascot and namesake of their nascent currency.

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Technologically speaking though, Dogecoin is no joke. The meme token is actually a fork of Litecoin that shifted to an auxiliary proof of work confirmation algorithm in 2014 in order to prevent competition with Litecoin’s Mining Pools. Since then, Dogecoin has been merged-mining with Litecoin.

Initially created with a supply cap of 100 billion DOGE, the developers decided to waive the cap in 2014, meaning there is an infinite supply of DOGE.

Explainer: Merged Mining refers to the activity of mining two or more cryptocurrencies simultaneously without sacrificing mining power.

Within mere months of the inception of Dogecoin, the cryptocurrency had acquired mining pools, had been listed on multiple exchanges, and acquired the cult following of a very active community on Reddit.

As the coin’s popularity grew around the internet, its most famous application came into being on Reddit, where users would use the Dogecoin tipping bot to send micropayments to each other as tips for outstanding content or comments.

The coin became so prevalent on the platform that Jackson Palmer was quoted as saying “Pretty much everyone who used Reddit had Dogecoin “.

With everything that’s happened in recent months concerning Reddit and the stock market, we have a good idea today of how powerful Reddit is. Back in 2014, Reddit surprised the world, Dogecoin creator, Jackson Palmer became aware that the Jamaican bobsled team had qualified for the Olympics, but lacked the funds to go. Palmer rallied the Reddit community, and together they raised more than $25,000 worth of DOGE in a matter of hours to send Jamaica to the Sochi Olympics. During the rally, Dogecoin even overtook the transaction volume of Bitcoin for a short time in January 201 as netizens pledged their funds to support the team.

Since then, the community has rallied behind supporting clean water facilities in Kenya, sponsoring a NASCAR Driver, and bringing an Indian luger to the Olympics.

The coin hasn’t been without its share of controversy though. Disgraced cryptocurrency exchange Moolah caused waves in the community by giving out free DOGE for upvotes on Reddit. Though some publicly decried the effort, many others partook in the free handouts.

After winning over a sizeable amount of the community, Moolah raised $300,000 of funding from the Dogecoin community before quickly declaring bankruptcy and squandering the funds. Things took an even darker twist when allegations of criminal misconduct were levied against the exchange’s creator, including fraud and money laundering charges, and 3 rape charges that led to convictions.

As a result of the fallout, Dogecoin creator Jackson Palmer took a step back from the cryptocurrency community and has been a reticent advocate of his widely popular invention.

Even as its creators have moved away from the scene, Dogecoin’s robust community of supporters, from internet forums to celebrities has led to several Doge-rallies, and if one believes crypto-twitter, the Dogearmy is strong.

With support from the likes of Snoop Dogg, Elon Musk, and the infamous WallStreetBets community, there’s no telling where Doge will go next.

Filed Under: Exchange Tagged With: ,