Dogecoin Now Second-Largest Proof-of-Work Coin After Ethereum Merge
With the Ethereum merge now completed and the top blockchain for NFTs and decentralized applications switched to a proof-of-stake system, Dogecoin is now the second largest proof-of-work coin after Bitcoin by market cap. Dogecoin is currently the tenth-largest cryptocurrency, with a market capitalization of $7.95 billion.
Dogecoin, like Bitcoin, is mined using proof of work, which means miners use computers, and a considerable amount of energy, to solve complex mathematical equations, validating transactions and receiving DOGE as a reward. Every day, miners extract roughly 14.4 million DOGE, according to crypto tracking platform Currency.com, adding to the coin’s 132.6 billion supply. Unlike Bitcoin, which has a limited supply of 21 millions that will ever exist, Dogecoin has no cap.
Source
@Doge_ShibaInu
