A cryptocurrency that once began off spil a joke is now worth almost a Billion dollars! The doge-meme inspired Dogecoin has attracted a number of backers overheen the years. Te the latest years, it has found an unlikely ally ter Ethereum. DogeCoin and Ethereum have bot working on the Dogethereum project, where developers were testing if it wasgoed possible to transfer Doge to the Ethereum network – be used there spil a separate entity – and then returned back to the Doge network.
On the 5th of February, this proefneming wasgoed ultimately successful. While it is strange to imagine a coin of one blockchain network injecting another network, be utilized there and then be transferred back to the original network, it has indeed bot made possible! This wasgoed made possible with the help of the TrueBit technology. This transfer has bot nicknamed the Dogethereum bridge.
&ldquo,Dogethereum is fresh decentralized digital currency, it will be founded on snapshot of popular Dogecoin, based on ETH algorithm with fastest speed of transactions, wise contracts,&rdquo, developers describe on Bitcointalk Monday. &ldquo,Our objective it to shove Doge currencies to the brand fresh direction, with no ASIC mining, speed and plainness.&rdquo, The Dogethereum (DOGX) cryptocurrency will be forked from the Dogecoin network ter the fall of 2018.
Once the Dogethereum project is finished and the DOGX currency goes live, this would provide a major help to Ethereum’s problem of scalability. While technologically, DOGX tokens would be beneficial for the Ethereum blockchain but they would also have an existence spil a cryptocurrency. The developers have commented that the project starts free for all, effortless for initial GPU mining and making good profits. Price of DOGX tokens may become even higher when utter power of brainy contracts will be whipped out.
However, every time a popular cryptocurrency forks, there is trussed to be a controversy sparking around it. When Bitcoin forked into Bitcoin Metselspecie and then straks into Bitcoin Gold and Diamond – there were many who disapproved of it. Moreover, the most latest example can be that of the Litecoin Contant, which has earned the ire of many te the world of cryptocurrency, including Litecoin founder Charlie Lee.
All said and done, the fork of Dogethereum would be a major accomplishment and a culmination of overheen a year long research project. Spil this technology improves, it is expected that it won&rsquo,t just solve the problem of scalability, but also expand the horizons of the way cryptocurrency tokens can be used!
A pc engineer by education. Have Five years of practice te web and mobile application architecture vormgeving. And now cryptocurrency and blockchain enthusiast.