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About This Video

Dogecoin is a cryptocurrency created by software engineers Billy Markus and Jackson Palmer, who decided to create a payment system as a "joke", making fun of the wild speculation in cryptocurrencies at the time. Dogecoin is based on Litecoin, which means all changes and updates made to Litecoin will also apply to Dogecoin. Dogecoin never set out to create any groundbreaking technology on the blockchain or do anything fancy and new—it’s just a simple cryptocurrency transaction platform, with a dog slapped on its face. But Dogecoin was never particularly innovative. Sure, there are some differences — it has a shorter block time than Litecoin's. Unlike Bitcoin's, its supply isn't limited — currently, there are 129 billion DOGE in existence, and more may be minted. But the biggest difference is that Bitcoin and Litecoin are actively managed, and frequently updated to address bugs and shortcomings. Dogecoin does get updated occasionally, but sometimes years pass before a new version comes out. You should think of Dogecoin as Bitcoin's silly cousin — it takes nothing seriously and it doesn't care about what will happen tomorrow. It counts clouds while you clean the house. It plays beer pong and listens to GWAR while you try to do serious work. DOGE just don't care.