How Many Dogecoins (DOGE) Are Mined Per Day?
✍️ 28 December, 2022 - 7:42 👤 Editor: Jakub Motyka
- The meme token and blockchain started as a joke in 2013.
- It uses proof of work to secure transactions. Below we explore the number of mined DOGE tokens per day.
- The latest news about cryptos is on our Telegram channel.
At press time, Dec.27, DOGE was changing hands for $0.07494 – representing a difference of -0.27% and -0.48%, respectively, in the past day and week, according to data from CoinMarketCap. The price change has driven the meme token’s market valuation of $9,927,873,154, and 8th in the crypto ranking.
In the latest news, DOGE listed on the largest European crypto exchange, Bitstamp, on December 22 with an offer of nil trading fees for transactions up to $1,000 within 30 days. The listed pairs include DOGE/USD and DOGE/EUR for trading the parody crypto against the US dollar and the euro. DOGE is also listed on major exchanges, including Binance, Coinbase, and KuCoin – tradable against USDT, BTC, and BUSD.
What Is The Number of Dogecoin Mined Per Day?
According to data collected by Coinwarz, Dogecoin (DOGE) mined per day is around 14,000,000 DOGE, while that mined per hour is 600,000 DOGE. At press time, with a hashrate of 9500 MH/s, power consumption of 3425 Watts, and electricity cost of 0.10kWh, DOGE mining profit per day for a single user is $13.15.
The meme token is also gaining use cases for payments among notable merchants - including Tesla, AMC Theatres, GameStop, and professional basketball team Dallas Mavericks - in direct contrast to the meme token, which was never created to have a real-world utility. The digital asset adoption began with the DOGE use case in online tipping on social media platforms like Reddit and crowdfunding charitable causes. Dogecoin codebase was copied from Litecoin.
DOGE Launched With No Pre-Mine Or Public Sale
What is unique about DOGE is that the crypto did not feature a public sale or a premine before launch. The project team set a maximum supply limit of 100 billion – allowing anyone with a smartphone or a laptop to mine the crypto. Like BTC, the Dogecoin blockchain uses proof of work mining to secure its protocol, letting miners solve complex mathematical puzzles to earn rewards in the meme crypto.
Also distinguishing DOGE from the rest of cryptocurrencies is its rewards schedule. The schedule was copied from LuckyCoin, distributing rewards randomly between 0 to 1 million DOGE per mined block. The project developer later changed the schedule to 10,000 DOGEs per mined block.
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- dogecoin-doge-mined-per-day: Unsplash