Dogecoin (DOGE) is a popular meme coin that was forked from Litecoin in December 2013. The coin was created by Billy Markus and Jackson Palmer from a viral meme of the dog breed, Shiba Inu. DOGE continues to exist as a peer-to-peer and open-source cryptocurrency. Unlike Bitcoin, Dogecoin uses a proof-of-work (PoW) consensus mechanism that is based on the Scrypt algorithm. This confers less block time for the Dogecoin network. Bitcoin takes up to 10 minutes to process a block, whereas, in Dogecoin, the block time is 1 minute.