DOGECOIN ETHEREUM BRIDGE NEWS
The team is currently working on the Dogecoin and Ethereum Bridge, although he doesn’t reveal more information.
It is still big enough for DOGE holders and supporters, since now they know that the work on Dogecoin and Ethereum Bridge is in progress and it is actually going to be released any time in the future.
Dogecoin co-founder Billy Markus said last month how Ethereum bridge to the Doge network would bolster the Dogecoin ecosystem. Markus also said that non-fungible token (NFT) markets would help Dogecoin as well.
Similarly, Ethereum co-founder Vitalik Buterin had also stated that DOGE can migrate to proof of stake soon using Ethereum technology, and it appears that Vitalik Buterin is also assisting in the development of this bridge.
What is Dogecoin Ethereum bridge?
And for those who don’t know about this Dogecoin and Ethereum Bridge and its importance. The Dogecoin Ethereum bridge allows investors to send Dogecoin from the DOGE blockchain to the Ethereum blockchain, converting them into DOGE tokens. These tokens can interact with different exchanges, like DeFi, before returning to the DOGE blockchain as Dogecoins via the DOGE-ETH bridge.
And this will be an important development since these tokens will be able to be used on a variety of exchanges such as decentralized finance before being transferred back to the DOGE blockchain as DOGE tokens via the Dogecoin and Ethereum Bridge.
Now, since this bridge will enable the execution of substantially more DOGE transactions per second than was previously possible, it is evident that this will bring DOGE to mainstream adoption.
And since we have already seen Dogecoin’s 1.1 4.5 upgrade which also reduce transaction costs, DOGE will have the most lower transaction costs which will definitely help in the mass adoption of DOGE.