Dogecoin Grabs Spot As 2nd Biggest PoW Crypto Following Ethereum Merge
Image: CoinsferaBagging 10th Place In Top Crypto List Dogecoin was launched in 2013 and has since risen to the top 10 cryptocurrency rankings. The crypto is currently trading at $0.060888, a decrease of 4.8% over the last seven days. The joke coin is now ranked 10th on Coingeckos list of the leading cryptocurrencies. In the previous 24 hours, BTC was trading at $19,709, down 2.5%, while ETH was trading at $1,474, falling 9.7%. As with Bitcoin, DOGE is mined using proof of work, which requires miners to use powerful computers and a significant amount of energy to solve complex mathematical problems in order to validate transactions and earn DOGE. Regulatory authorities have recently upped their monitoring of network validators as many nations advocate for a total ban on crypto mining activities since they place a significant strain on national grids. Dogecoin PoS Transition In The Drawing Boards Approximately 14.4 million DOGE are mined daily, according to the cryptocurrency tracking platform Currency.com, adding to the coins supply of 132.6 billion. In contrast to Bitcoin, which has a restricted supply of 21 million, Dogecoin has no supply limit. Meanwhile, the Dogecoin Foundation has been contemplating a transition of Dogecoin to a proof-of-stake (PoS) mechanism after Ethereum co-founder Vitalik Buterin,