Like bitcoin and Litecoin, Dogecoin functions using public-
Compared with other cryptocurrencies, Dogecoin has a fast initial coin production schedule: 100 billion coins have been in circulation by mid 2015 with an additional 5.256 billion coins every year thereafter. As of 30 June 2015, the 100 billionth Dogecoin has been mined. While there are few mainstream commercial applications, the currency has gained traction as an Internet tipping system, in which social media users grant Dogecoin tips to other users for providing interesting or noteworthy content. Many members of the Dogecoin community, as well as members of other cryptocurrency communities, use the phrase "To the moon!" to describe the overall sentiment of the coin's rising value. A gold version of a Dogecoin is being taken to the moon in 2017. Despite being introduced as a "joke currency" on 8 December 2013, Dogecoin quickly developed its own online community and reached a capitalization of USD 60 million in January 2014; as of March 2016, it had a capitalization of USD 22.2 million.