Dogecoin Will Connect To Ethereum Network Before The End Of This Year!
JAKARTA – Dogecoin (DOGE) has experienced significant development in recent months. This time, the meme coin is rumored to have a bridge to the Ethereum network. Dogecoin will have access to all decentralized financial platforms or DeFi on the Ethereum network.
The Dogecoin-Ethereum bridge will be developed by bridge developer Blue Pepper. It is planned that the DOGE bridge will launch in 2022. This is an important announcement for the DOGE community after a series of improvements to the utility of the meme coin.
With the existence of The Dogecoin Foundation, DOGE has experienced significant development. The developer has successfully tested the delivery of coins bearing the Shiba Inu logo using satellite radio signals. That is, DOGE transfers can be done without the internet.
Meanwhile, the launch of the DOGE-ETH bridge allows Dogecoin to have capabilities in decentralized finance (DeFi) functions. So, meme coin users will be able to lend or stake DOGE ownership on the DeFi platform.
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Blue Pepper will use a centralized custodial BitGo like the Wrapped Bitcoin (wBTC) version. Likewise, with Dogecoin, there will be a wDOGE version. This means that Dogecoin's capabilities have increased in terms of interoperability.
DailyCoin reports that The Dogecoin Foundation and MyDoge will join Blue Pepper and BitGo as early members of a decentralized autonomous organization (DAO) that will be responsible for governing the protocol.
Dogecoin co-founder Billy Markus hopes the bridge will work. However, he said he would not be responsible for any activity that occurs in the DeFi environment. On the other hand, one of the Dogecoin developers, Mishaboar, encouraged Blue Pepper to coordinate with the Dogecoin Core team to discuss the implementation of DOGE-ETH in a more efficient way.
At the time of writing, the DOGE crypto price is trading at the level of IDR 1,005. The price has decreased by 1.3% in the last 24 hours based on Coingecko data.