#### What is Dimecoin? Dimecoin (DIME) is a [digital currency](https://www.coinbase.com/learn/crypto-basics/what-is-cryptocurrency) that seeks to bridge the gap between traditional fiat and [blockchain](https://www.coinbase.com/learn/crypto-basics/what-is-a-blockchain) technology. Launched in December 2013, Dimecoin is one of the oldest UTXO blockchains in existence today. The Dimecoin Network, based in the United States, is the steward of the Dimecoin Blockchain. The network operates primarily through the help of volunteer members from within the Dimecoin community, who share a common belief and passion for facilitating the growth of not only Dimecoin but cryptocurrency as a whole. #### How does Dimecoin work? Dimecoin operates on a hybrid proof-of-work ([PoW](https://www.coinbase.com/learn/crypto-basics/what-is-proof-of-work-or-proof-of-stake)) and proof-of-[stake](https://www.coinbase.com/learn/crypto-basics/what-is-staking) (PoS) [consensus mechanism](https://help.coinbase.com/en/coinbase/getting-started/crypto-education/glossary/consensus-mechanism-protocol), which includes masternodes. This mechanism was stabilized with the release of Dimecoin core v2.3.0.0 in September 2023. Dimecoin aims to remain fully decentralized, with the development team having no controlling interest or stake in any pre-[mine](https://www.coinbase.com/learn/crypto-basics/what-is-mining). There has never been an [initial coin offering](https://help.coinbase.com/en/coinbase/getting-started/crypto-education/altcoins-and-icos) (ICO) or any sort of fundraising linked to the blockchain. As of December 2020, the total supply is roughly 556 billion coins, with an estimated 388.53 billion coins currently in circulation. #### What are the potential use cases for Dimecoin? Dimecoin aims to facilitate the growth and adoption of blockchain technology through the development of payment gateways and technology geared towards streamlining [peer-to-peer](https://help.coinbase.com/en/coinbase/getting-started/crypto-education/glossary/peer-to-peer) (P2P) and digital remittances. This is achieved through the use of Dimecoin (DIME) as a cryptocurrency. Given its status as a currency for everyday use, the supply of Dimecoin is uncapped and will continue to expand at an [inflation](https://www.coinbase.com/learn/crypto-basics/what-is-inflation) rate of less than 1.5% yearly. This makes Dimecoin a potential tool for daily transactions and digital remittances. #### What is the history of Dimecoin? Dimecoin was first launched in December 2013, making it one of the oldest UTXO blockchains in existence today. The Dimecoin Network, which is the steward of the Dimecoin Blockchain, was established in February 2018 by its founder, Ryan Downey. The network operates primarily through the help of volunteer members from within the Dimecoin community. These members share a common belief and passion for facilitating the growth of not only Dimecoin but cryptocurrency as a whole. The Dimecoin core v2.3.0.0 was released in September 2023, stabilizing the hybrid PoW-PoS consensus mechanism.