Dogecoin becomes the second-largest proof-of-work coin next to Bitcoin

  • 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, like Bitcoin, is mined using proof of work, which means miners use computers, and a considerable amount of energy, to solve complex mathematical equations.