Dogecoin – From joke cryptocurrency to Bitcoin rival

Dogecoin is a virtual currency that uses peer-to-peer technology and operates without a central authority. Its name and logo were inspired by the internet meme “Doge” and it was originally created to poke fun at the success of the most famous of the virtual currencies, Bitcoin. But over the past seven weeks Dogecoin has evolved from a bit of a joke to the fifth most valuable cryptocurrency in the world and has just helped to send both the Jamaican bobsleigh team and an Indian luger to the upcoming Winter Olympics in Sochi, Russia. We take a closer look.

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