Canadian meat company Meatme says it is now allowing crypto payments.
Here is how Binance Academy describes Dogecoin:
“Dogecoin (DOGE) is an open-source cryptocurrency stemming from a fork of the Litecoin codebase. As the name suggests, it’s largely based on the Doge meme that took the Internet by storm in 2013. The original image depicts a dog of the Shiba Inu breed, whose inner monolog is displayed in comic sans font.
“Billy Markus, a programmer from Oregon, initially came up with the idea for a sort of ‘joke’ cryptocurrency. He reasoned that a more lighthearted coin would have a better chance of attracting mainstream attention than Bitcoin. Around the same time, Adobe’s Jackson Palmer stated that he was ‘Investing in Dogecoin, pretty sure it’s the next big thing’ in a now-deleted tweet.
“Following some encouragement, Palmer went on to create dogecoin.com. When Markus stumbled across the website shortly after its launch, he reached out to Palmer to make it a reality and began work on what’s now known as Dogecoin. Upon launch, the cryptocurrency rapidly spread across social media. Within months, it hit a multi-million dollar market capitalization…
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“Dogecoin is based on a fork of Litecoin (LTC) called Luckycoin. However, notable changes have since been made to the protocol… Similar to Bitcoin, Dogecoin uses a blockchain, where blocks are appended via Proof-of-Work… As a derivative of Litecoin, Dogecoin inherited the Scrypt algorithm. To avoid any competition and to mitigate security risks, though, Dogecoin developers switched to a merged mining model, meaning that Litecoin miners could simultaneously earn Dogecoin…
“Dogecoin mining targets a one-minute block time and yields a block reward of 10,000 DOGE. There’s no maximum supply of units, and over one hundred billion are already in circulation. Enthusiasts view the removal of any limit as a good choice, as it incentivizes the spending of the coin and prevents early adopters from profiting disproportionately.“
Yesterday, Vancouver, BC based firm Meatme — which makes “farm to table” easy by allowing customers to select from the cuts they like from their favourite farmers and fisheries and delivering it to their door — announced support with crypto payments with the help of crypto payment processor BitPay.
Disclaimer
The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading cryptoassets comes with a risk of financial loss.
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Featured Image by “Shutterbug75” via Pixabay
