Dogecoin is a cryptocurrency, a totally digital form of money that is more than just a revolutionary way to pay.
It means you can send money to friends and family, pay for products, and anything else. All nearly instantly, and all securely.
You have a new way to accept payments with zero fees for you and no waiting for payment processors.
Accept donations from anywhere in the world and in any amount, so you can get money to those who need it.
The Dogecoin network is made up of thousands of computers connected via the internet. They each have a copy of every transaction that has ever taken place. This complete record allows them to make sure every new transaction is valid, and keeps everyone safe.
It's the backbone of cryptocurrencies. Various algorithms are used in every transaction to make sure coins are going to the right place, and coming from the right people.
Keeping the network safe takes a lot of computing power, but is obviously very important. So people have their computers mine. They occasionally get a Dogecoin reward, and you get a fast and secure network.
The pool that powered I Dig Doge has shut down, so I have decided to cease mining as well. :( If you're still interested in mining Dogecoin, take a look at this tutorial. Please withdraw your Dogecoins as soon as possible!