Tag Archives: Dogecoin

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Dogecoin gains 25% in a week! What is behind the move?

Popular cryptocurrency meme token Dogecoin ($DOGE) recorded record 25% gains in the last week as Twitter CEO continued to update his followers on what the future might have in store for the popular social media platform.

As well as the distinct possibility of Dogecoin being used for micropayments on the site, Musk was quick to remind his followers that all being well, lunar satellite DOGE-1 will be going in to orbit in the first part of the new year.

Alongside other lunar payload IM-1/NOVA-C, DOGE-1 is to catch a ride with the SpaceX Falcon 9 which is set to take off from the Kennedy Space Centre, Florida on January 14th 2023.

The Doge moon mission was first announced by Elon Musk in May 2021 but delays related to the IM-1 lunar lander have mean that the project has been pushed back. The renewed interest seems to be behind last week’s surge in the price of Dogecoin.

Improved efficiency

The price of Dogecoin currently stands at $0.094 which with a market cap of $12.5 billion makes the coin the 8th most popular cryptocurrency in the world today. Despite a recent drop of 4.5% over the last 24 hours the price action for Dogecoin over the last 7 days makes the coin one of the top movers in the past week.

Elon Musk’s relationship with Dogecoin is well documented with previous tweets by the newly installed Twitter boss having a profound and immediate impact on the token price. As recently as 25th November Dogecoin rose over 8% in as little as 24 hours after popular cryptocurrency podcast host David Gokhshtein told his 700,000 followers that he believed that Ethereum co-founder Vitalik Buterin would soon be working alongside Elon Musk to improve the efficiency of Dogecoin.

Interestingly, Mr Buterin commented that Dogecoin developers ought to think of transforming to a Proof of Stake based blockchain in September 2021 stating that the current Ethereum code can be easily used for such a transition.


How the future pans out is anyone’s guess but given recent events it may be safe to say that the future looks bright for DOGE. If the launch of the Doge-1 lunar satellite goes according to plan together with the much discussed possibility of DOGE being accepted as a micropayment option on Twitter then we may begin to see Dogecoin exceeding its record highs of $0.68 which were recorded in May 2021.

Of course, any price rise must take into account macro economic factors and the rising rates of global inflation but safe to say, Dogecoin is one of the most funny projects in cryptocurrency right now.

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Welcome to Blockchain Club

HolyTransaction add-on for cryptocurrencies exchange rates

Recently we at HolyTransaction created a new add-on for the Firefox browser only to see the exchange rates for cryptocurrency pairs.

This add-on allows you to see the exchange rates between the most popular currencies using only a couple of clicks.
Exchange rates are available between dollar, euro, bitcoin, litecoin, peercoin, dogecoin, dash, blackcoin and gridcoin.
The add-on’s simplicity provides you an easy way to have all the information you need before selling or buying your favorite cryptocurrencies.
The price is shown on your browser, according to your specific preferences. You can change the displayed number of decimal places in the user settings.

How to dowload the add-on

To download this HolyTransaction add-on, you just have to follow this step-by step guide:
  • Click on the Firefox Menu at the top right of the toolbar;
  • Click on “Add-on”;
  • Write “HolyTransaction” in the search at the top right of the page;
  • Click on “Add-on” on the left menu;
  • Click the “Download” button next to the HolyTransaction add-on.
  • You will find the exchage rates window at the top right of your toolbar.
You just need to click on the HT logo of HolyTransaction.

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Amelia Tomasicchio
Altcoins Infographic HolyTransaction

Infographic: Comparing Altcoins

Comparing Altcoins: what features make each altcoin different Infographic HolyTransaction


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HolyTransaction Telegram Bot for Crypto Conversion

HT logo with cryptocurrencies
We are excited to announce several new developments that have recently launched at HolyTransaction, in our continued effort to make digital currency easy and accessible for all.
Firstly, full conversion between Tether and our other supported cryptocurrencies is now available.
Tether is blockchain-based smart property built on top of Omni Layer that is backed backed 1-to-1, by traditional currency held in Tether reserves. One TetherUST, for instance, equals one dollar. The value of each Tether never changes, meaning that there is no fear of volatility. Tethers can also be withdrawn and held in any Bitcoin wallet where you control the private key.
Secondly, we are pleased to introduce our new HolyTransaction Telegram Bot, available to users on both the Telegram and GetGems messaging platforms. The HolyTransaction Bot allows users to view up-to-date exchange rates, and get the most recent cryptocurrency news, without ever leaving their chat client. In many countries, a strong and reliable internet connection is not always available.
Our bot will allow users to conduct transactions and inquire about their favorite currencies quickly and without difficulty, all from a single chat. The HolyTransaction bot is available to users on both desktop and mobile platforms. Simply send a message to @HolyTransactionBot via either Telegram or GetGems to begin.
Bot Commands:

  • ●  Conduct a trade between any of our supported currencies on the HolyTransaction
  • ●  View the most recent cryptocurrency news.
  • ●  Receive details on the current price of any of our supported currencies.
  • ●  List currencies available on the platform.

            ●  List of BOT commands
Lastly, as part of the technology behind the HolyTransaction Telegram Bot, we have released a custom HolyTransaction API. Developers around the world are invited to use this new API to integrate the functionality of the HolyTransaction platform into their own projects. You will find more info to start developing.
HolyTransaction is a multi cryptocurrency wallet that allows you to use Bitcoin, Litecoin, Dogecoin, Dash, Blackcoin, Tether, Omni Layer and RibbitRewards. We are committed to our users both near and far. Cryptocurrency is international, and so are we. Stay tuned for more news from HolyTransaction!

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Amelia Tomasicchio

HolyTransaction partners with Netki for human-readable address

Wallet addresses are one of the most aggressive barriers to the mass adoption of digital currency. Trying to explain these lengthy, case sensitive, intimidating strings of numbers and letters to the uninitiated is a daunting task. Much of the general population values simplicity over function, and in this regard wallet addresses seem scary and overly complex.

It is with this in mind that we are very excited to announce our partnership with Netki!
Netki makes digital money approachable and intuitive for new and veteran users alike, by transforming long and unwieldy Bitcoin addresses into human-readable wallet names. Additionally, your Netki name separates your identity from public blockchain data, providing you multiple layers of privacy, as well as multiple validations to keep you secure.
When paired with your existing HolyTransaction account, Netki will allow you to use one single Name for all of your wallet addresses. This means that you will be able to send multiple currencies, all to one domain name-like address! As of this writing Changetip is integrated with Netki. Storing your funds, tipping online, building/implementing blockchain applications, and buying, selling, and accepting your desired currency, have all just become as simple as remembering a single name, when used with supported vendors!
Your account will be automatically updated as soon as it’s ready, and the integration will be seamless from your perspective. Once implemented, your wallet name will correspond to your HT username.
Bitcoin, Litecoin, and Dogecoin will be the first coins supported, with more of your favorites coming soon after.
Netki’s solution utilizes both the decentralized Namecoin blockchain at its core and distributed DNSSEC at its edges. This combination allows users to have both control and ownership of the blockchain, while still maintaining their financial privacy. This architecture allows users to easily share their Wallet Name with anyone without having to publish it to the world via a public ledger.
Together, HolyTransaction and Netki aim to transform cumbersome wallet addresses into one shareable, easy to remember name, that will be usable by all your digital currencies. We look forward to working together to continue making the bitcoin experience both friendly and intuitive for all.

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Dogecoin to allow Litecoin merge mining in network security bid

(CoinDesk) The dogecoin development team has announced that it will soon enable auxiliary proof-of-work (AuxPoW), allowing merge-mining with litecoin that will address concerns over the altcoin’s future.
AuxPoW enables the dogecoin block chain to receive work from other scrypt-based networks. Dogecoin miners will still be able to generate blocks and receive DOGE, but now, litecoin miners will contribute hashing power to the dogecoin network.
The move, announced on the dogecoin subreddit, follows a months-long period of community debate focusing on the question of long-term viability in the dogecoin network. Litecoin creator Charlie Lee suggested the idea of merge mining in April, eliciting mixed reactions from both sides of the conversation.
According to the dogecoin development team, the AuxPoW integration will require a hard fork of the dogecoin wallet block chain. No specific integration date has been given, but the development team said that testing will begin soon.
As explained in the original announcement:
“Our topmost priority has always been to provide a stable platform for the currency and its services and of course its users. We hope that with AuxPoW we can achieve that in a better way than what it currently is like. Our hashrate has been on a decline and we hope that we can gain more of it with the acceptance of proof of work from other chains.”
As expected, community members voiced both enthusiasm and concern for the AuxPoW plan. Yet, advocates for the strategy, including Lee, say that the move will ensure the stability and security of the dogecoin network.

Plan to save dogecoin

AuxPoW is not new – several coins already enable work from other mining networks, with namecoin being the most prominent example. This long-standing reputation as a workable proofing system – and the strength of the litecoin network – has gained the idea support in recent weeks.
In a recent community post on /r/dogecoin, Dogetipbot creator Josh Mohland shared his perspective on the concept, saying that AuxPoW would help solve a key problem with dogecoin: the fact that it was never intended to function as a full-fledged transaction network.
Mohland explained:
“Dogecoin was built to die quickly – none of us expected it to grow into the absurd entity it is today. With that said, there’s absolutely an easy way to save the coin from its certain death (and by death I mean 51% attacked for the lulz), and that’s AuxPoW.”
He went on to call AuxPoW “a simple change” worth the trouble, owing to the fact that the risk of a 51% attack far outweighs perceived costs.
Other community members expressed concern over the idea, saying that the move enables large litecoin pools to crowd out smaller dogecoin miners. Questions were also raised as to whether or not AuxPoW would actually help prevent a 51% attack.

Dogecoin in ‘dire situation’, says Lee

Litecoin creator Lee hailed the announcement, telling CoinDesk that the development team made the right decision during a “dire situation”.
Lee argued that the move comes at the right time given the long-term threat to the dogecoin network – and, as some have pointed out, its falling price. He added that the move provides increased security for dogecoin without any repercussions, removing a source of concern for the network and enabling broader development in the community.
Lee told CoinDesk:
“[The community] can focus on what dogecoin does best (tipping, donations, wow) instead of worrying about defensive mining and network security.”

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urlhttpi.imgur .com2FVxfXF

Does Dogecoin have the most active community?

Dogecoin, one of the fastest growing cryptocurrency has come a long way since it was first launched as a joke in December 2013. Its growth trajectory has been magnificently fast and the question that many Dogecoin fans have in mind is as follow: Is Dogecoin now the cryptocurrency with the most active community base?
Let’s try to answer these questions by looking at some community statistics with the help of CoinGecko. For this exercise, I will just compare Bitcoin against Dogecoin since from CoinGecko, it is fairly obvious that all the other altcoins are class below Dogecoin.
Based on subscriber count, at time of writing, /r/dogecoin has 87878 subscribers while /r/bitcoin has 122885 subscribers. It seems like Dogecoin is 72% of Bitcoin’s subscriber count.
To look deeper into the involvement of Redditors just in case either of the coin bought some fake subscribers, we will count the average number of new posts and comments per hour that made it to the front page of the coin’s subreddit. The logic behind this is as follow: if there is a high subscriber count but no “real people” following the coin’s subreddit, there will be very little new posts and comments on the front page of the subreddit. So the post and comment count will be a good measure of community activity.
We can see that Dogecoin is pretty much on par with Bitcoin with 2.41 new hot posts versus 2.45 for Bitcoin.
As for comments, Dogecoin portefeuille has 161 compared to Bitcoin’s 266 per hour. These values change quite drastically of course and I have seen Dogecoin average comments per hour reaching well over 1000 on a good day. Some may argue that this is probably because of Dogetipbot but I would say any coin is free to create their own tip bot and use tipping as a community tool.
Lastly, CoinGecko also measures number of Active Online Subscribers on the coin’s subreddit. For this, Bitcoin is a clear winner with 960 users over 390 users for Dogecoin.
Verdict: I would call this a slight win for Bitcoin
It is hard to get activity numbers for Facebook other than the Page Likes. Bitcoin has 22450 Likes versus 63380 Likes for Dogecoin.
To analyse further, it may be plausible to count the number of Pages and Groups that have the word “Bitcoin” and “Dogecoin” but this exercise would be much harder to measure.
Verdict: A clear win for Dogecoin
Measuring the follower count of the Twitter accounts of Dogecoin and Bitcoin, we will see that @dogecoin has 165084 followers compared to @bitcoin with 54747. Using this as the only measure we can say that this will point to a clear win for Dogecoin
Using Topsy to compare the number of tweets for Dogecoin and Bitcoin, we will see that Bitcoin has almost 8.5 times more tweets compared to Dogecoin
Verdict: I would give this to Bitcoin because Bitcoin’s Twitter activity is far superior compared to Dogecoin’s.
Searching “bitcoin” on Google gave me 31.8 million results while searching “dogecoin” gave me 4.63 million results.
Using Google Trends, I can also see the trend on the number of Google searches for “bitcoin” and “dogecoin”. Again Bitcoin is a clear winner – people worldwide are more interested to find out about Bitcoin.
Verdict: A clear win for Bitcoin
This would be tricky to evaluate. Bitcoin has Bitcointalk as the official forum while Dogecoin has a few forums such as Discuss Dogecoin and Doges.org.
Bitcointalk now has 7260963 Posts in 310688 Topics by 327403 Members. Doges.org has 51499 Posts in 9245 Topics by 11028 Members.
Verdict: A clear win for Bitcoin
I’m afraid to say that this is indeed true, fellow shibes. We are not the #1 cryptocurrency yet but we are catching up very fast with Bitcoin. On CoinGecko, we have beaten all the other altcoins in terms of community but we must not be complacent and work harder to be reach out to more people and help Dogecoin be the cryptocurrency with the best community!
Bobby is the co-founder of CoinGecko, a cryptocurrency ranking website that looks at various metrics beyond market capitalization such as community involvement, developer activity and trading liquidity.

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McShibe! McDonalds Dogecoin burger approved for judging

Back in May, the Dogecoin community decided to take advantage of a competition McDonalds was hosting and tried to add a Dogecoin themed burger to the McDonalds menu. The competition is simple: design a burger online, pick the ingredients, and name it. The top voted burgers would be selected for judging and the winning burgers would sold in McDonalds restaurants for a week.


Early Troubles

Initially, multiple variations of the “Dogecoin” burger were submitted for entry. Examples include the McDogecoin, the McDoge, and the Doge Burger. Despite having been voted to the top, McDonalds had to remove most of these entries due to the name. In hindsight, this decision makes a lot of sense. Some customers (especially those who aren’t aware of the Doge meme) would find it very strange if McDonalds started selling “Doge” burgers all of a sudden.


Of all the entries, the McShibe burger was the most tame and an announcement earlier today disclosed that McDonalds had selected the burger and invited the contestant to the kitchen.


The judging will be held on June 29th and 11 other finalists will be invited. Of these 11, judges will select the top 5. These top 5 burgers will be made available on the UK McDonalds menu for a period of one week each.


Well — I guess we can add this to the eternal list of amazing things Dogecoin has done. It remains to be seen whether or not the judges will actually select the burger (or how good it actually tastes). Hopefully one of the judges is secretly a Shibe.

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Bitcoin, Dogecoin, and the Blockchain

The prevalent idea of modern day cryptographic currencies originated when Bitcoin launched in 2009. With Bitcoin, for the first time in history, the world had access to a completely decentralized medium of exchange. This medium of exchange reliably transfers value from one entity to another in a hostile, trust less environment by solving a problem that previously necessitated centralized entities, such as financial banks, to arbiter value exchanges. The main role of the centralized entity was to assure the recipient that the money has been taken from the sender, and given to the recipient, and the sender could no longer spend the same money (i.e., double spend it). The problem of double spending can be modeled under an abstract Byzantine Generals’ Problem that focuses on achieving majority consensus in a decentralized network.
The Byzantine Generals’ Problem is a topic that deserves its own blog post. For now, let’s just remember that the problem of double spending was thought impossible to solve in a decentralized manner before Bitcoin solved it. This solution was implemented in what is now called the Blockchain.

What is the Blockchain?

In simple terms, the Blockchain is a book of accounts that is divided into batches of transactions, or blocks, which are naturally a collection of transactions. Bitcoin uses a number of technologies that came before it, including decentralized file sharing (see: BitTorrent), Public Key Cryptography, and Proof of Work Hashing (see: Hashcash). Bitcoin introduced a new technology: the Blockchain. Most subsequent cryptographic currencies, such as Dogecoin, use the same technology with minor changes (e.g., a different Proof of Work hashing algorithm).
The Blockchain facilitates reliable transfer of units of account (later on referred to as values) between certain cryptographically valid entities. In Bitcoin, the total units of account that will ever exist is 2.1 Quadrillion Satoshis, or 21 Million Bitcoin. In Dogecoin, this is 100 Billion Dogecoin until March 2015, and 5 Billion additional Dogecoin annually after that. Dogecoin and Bitcoin consist of two separate networks of peer-to-peer nodes. Each Bitcoin or Dogecoin portefeuille tries to keep its local copy of the book of accounts up-to-date.
In order to make use of the power of the Blockchain and its fast, decentralized, low-fee transactions, one must understand what constitutes a transaction:
A transaction is simply a cryptographically verifiable instruction from the sender to transfer value the sender owns to one or more valid recipients. The sender(s), and receiver(s), have cryptographically verifiable identities, known as addresses (see: Public Key Cryptography).
In the Blockchain, here’s what a (simplified) transaction looks like:


    "txid": <a unique transaction identifier>
    "inputs": <an array of inputs>
    "outputs": <an array of outputs>
    "tx_hex": <transaction content as a hexcode string>

    "blockhash": <a unique block identifier this transaction belongs to>
    "time": <the time this transaction's block was processed>
    "confirmations": <number of blocks that confirmed this transaction>

The very basic parts to understand in the above snippet are: a transaction has inputs, and outputs. The inputs are specifications of which values to transfer from the sender’s address(es), and the outputs are specifications of how much of the total input value each recipient’s address(es) receives. Inputs in this transaction were outputs in a previous transaction, with the exception of when the network generates new coins.
New coins are generated by the Dogecoin network as rewards for miners for solving a block (example), i.e., miners work hard to find the correct hash for a batch of transactions, also known as a block (see: Hashcash, Proof of Work). If the total input values are higher than the total output values, the difference is paid to miners of the block as a transaction fee. Total input value is never less than the total output value in a single transaction.
When a miner finds a new block, they confirm all the transactions contained within it as valid. However, a block does not exist on its own — it is linked to blocks previously solved in a chain of blocks all the way to the Genesis Block. The Genesis Block was created when Bitcoin or Dogecoin networks were created (see: Dogecoin Genesis Block). Therefore, where a block is solved, and appended to a chain of previously found blocks, it confirms the transactions within it, as well as the transactions in all the previous blocks in its chain. Hence the name: Blockchain.
So, what is the Blockchain? In very concise terms, it is a chain of blocks!

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The single most profitable illegitimate mining operation: 500 Million Dogecoins mined!

(CoinDesk) An unknown hacker has reaped an estimated 500 million dogecoins – worth nearly $200,000 at today’s prices – by hacking into a series of data storage hubs for computer networks, according to SecureWorks, an information services subsidiary of personal computing giant Dell.
The SecureWorks report revealed that the hacker targeted network attached storage (NAS) boxes made by Taiwan-based Synology Inc. and used its computing power to mine dogecoin through a private pool. The action caused problems for Synology’s customers, some of whom reported poor performance on Facebook in February.
SecureWorks called the months-long intrusion unprecedented, saying:
“To date, this incident is the single most profitable, illegitimate mining operation.”
Following reports of an issue, the investigators ultimately discovered a folder entitled ‘PWNED’ that contained the mining software CPUMiner and the capacity to conceal the program.
The address the mined dogecoins were being sent to was also identified,
revealing the accumulation of more than 400 million dogecoins. Along
with another wallet, the hacker generated roughly 500 million dogecoins
between January and April.
addition to exploring the technical aspects of the hack attack,
SecureWorks delved into the possible identity of the assailant,
suggesting that “the findings strongly indicate that the threat actor is
of German descent”.

Hacker used private pool

configuration file of the software that was infecting Synology’s NAS
boxes pointed to the presence of hidden mining software.
the program used, had been modified to run on the boxes and was
connecting to a dogecoin pool not associated with any public mining
group, SecureWorks said. Each NAS box acted as an individual miner,
connecting to the pool and generating dogecoins.
accessed the data being sent to the NAS boxes, which allowed them to
ascertain the dogecoin wallet address holding the fraudulently mined
dogecoins, as well as the possible identity of the hacker.
“foilo.root3″ in the configuration file, the user appears to have a
connection with accounts on GitHub and BitBucket, although it remains
unclear whether the name is unique to a single person.

Mining malware gains

dogecoin mining attack represents one of the more creative approaches
to generating digital currency through fraudulent means. Other recent
attempts have found wrongdoers using unique means to upload software to
mine bitcoin, but in nearly all cases, the program was designed to
conceal itself and its operations.
Last month, unknown hackers attempted to distribute bitcoin mining malware through a modified torrent file of the video game Watch Dogs. This attack was notable as it targeted another form of online piracy.
more unusual concealed attempt to create mining botnets out of mobile
phones was uncovered in April. At the time, a group of wallpaper apps
listed on the Google Play app store were discovered to contain bitcoin mining programs.
Image via Dig Doge

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