Dogecoin could be brought closer to the Ethereum blochain, to boost the adoption of DOGE and start (finally) to find a use for it. In any case, this is the wish of its co-founder, Billy Markus, who evoked on Twitter the idea of a gateway between Ethereum and Dogecoin.
This does not mean that Dogecoin will change its blockchain to that of Ethereum, but that the Doge digital currency can be used more in the world of decentralized finance, which is greatly organized through the Ethereum blockchain. In this way, Doge’s exchanges would be multiplied.
In fine, the digital token which had no use except its high volatility could be used on the booming NFT market, in Ethereum 2.0 staking, or in projects of all kinds of the DeFi (decentralized finance). Billy Markus confirmed it. : “Allowing the payment of NFTs through the DOGE would considerably increase its usefulness”, he wrote.
Imagine the future of Dogecoin
Currently, without much use, Dogecoin continues to rank in the top 10 of the most important cryptocurrencies, in eighth place. Its capitalization currently stands at $ 29 billion. At the start of the year, the frenzy had won over investors, Dogecoin was exploding and its price increased by 10,000% in just 4 months.
After this period, large cryptocurrency exchanges like Coinbase introduced the token. Neobanks like Revolut also adopted it. Its course is regularly shaken up by tweets from its greatest ambassador, billionaire Elon Musk. Just yesterday, Dogecoin was climbing again after a photo of a Shiba released by the CEO of Tesla.
Simple meme, means of payment or a real key player in decentralized finance, Dogecoin remains firmly anchored in its parody image, but is not discouraged in transforming the adoption of users and platforms to find a second life.
For the more expert, with Ethereum becoming a deflationary network during the London hard fork, Dogecoin could also become a deflationary currency (limited number of tokens). A reversal that would play on its course.