Dogecoin Will Connect With Ethereum And Enter NFT Space To Boost DOGE Utility

Dogecoin is said to be linked to Ethereum (Kapitalet)

JAKARTA – One of the founders of Dogecoin (DOGE), Billy Markus revealed that Doge will have a bridge or link to the Ethereum network to support the DOGE ecosystem. In addition, Markus also stated the importance of the non-fungible token (NFT) market for the development of Dogecoin.

On the other hand, Dogecoin co-founder, Jackson Palmer who has left the Dogecoin project criticized the crypto world by saying that cryptocurrency is controlled by powerful cartels. This view is contrary to Billy Markus who sees the crypto world with a positive perspective.

Markus reveals the possibility of a bridge between Dogecoin and Ethereum and how NFT can help improve DOGE's usability. This was conveyed by Markus via Twitter on Wednesday.

“Two things I believe will help Dogecoin: [Completion of] the DOGE↔ETH bridge, [and] NFT platforms (eg Opensea) that allow DOGE-ETH tokens to be used for purchases,” Markus said in a Twitter tweet.

“NFT buying is in high demand with crypto. Allowing the purchase of NFT DOGE greatly increases its utility,” he added.

Ethereum Founder Vitalik Buterin Supports Ethereum Bridge – Dogecoin

Vitalik Buterin himself hopes that Dogecoin can switch to proof-of-stake (PoS) consensus without leaving proof-of-stake (PoW).

“Personally, I hope Doge can switch to PoS soon, maybe using Ethereum code,” Buterin said some time ago as quoted from Bitcoin.com News.

“I also hope they don't cancel the 5 billion/year annual PoW issuance, but instead they put it in some kind of DAO that funds global public goods. It would fit in with Dogecoin's healthy ethos of not being greedy," he added.

A number of parties support the concept proposed by Mark regarding the connecting bridge between ETH – DOGE and its function in the NFT.

"DOGE being implemented into the NFT ecosystem will be of great benefit to the community," said one Twitter user who responded to Billy Markus' tweet.

Not only that, DogeX's Twitter account also responded to Mark's tweet: “HEY Billy Markus, our metaverse developer spoke to Steven Steele about this last week. We are actively trying to work with you on this concept as we build the Doge X ecosystem.”

According to a data report from CoinMarketCap, Dogecoin's position has declined from rank to rank in the top 10 cryptocurrencies by market capitalization. Dogecoin lags behind Solana, USDC, and Polkadot. DOGE prices also decreased by 8.1 percent in the past week. At the time of writing, Dogecoin is trading at a price of IDR 2,949 per coin.