Dogecoin Co-founder Billy Markus revealed that popular meme currency should link with Ethereum to accelerate its mainstream adoption.
Markus also unveiled his Doge proposal to launch a DOGE-ETHER bridge. This would link Doge with Ethereum's ecosystem, allowing the cryptocurrency to be used to purchase Non-Fungible Tokens or NFTs in the long run.
What is Doge-Ethereum Bridge, and why does it matter?
In September, Markus took to Twitter to announce the idea of a DOGE-ETH bridge. If implemented, it would create a collaborative link that could stimulate Dogecoin's popularity if used in the Ethereum ecosystem.
Since NFTs have gained mainstream coverage due to their sophisticated sole ownership conception, Markus also stated that integrating Doge with leading NFT marketplaces could help the crypto achieve considerable momentum.
The completion of the ETH-DOGE bridge will allow integration with Ethereum's ecosystem and NFT platforms. This will enable Doge users to send the token from its native blockchain to an Ethereum blockchain, allowing for Doge transactions in the DeFi domain.
Of course, this pairing for NFT utility may not be needed. In mid-December, a Dogecoin developer revealed they had minted the first NFT on the Dogecoin blockchain.
The news of the bridge currently under process has prompted a significant media frenzy, with the crypto community lauding Markus's ideas to accelerate Doge's mass adoption.
DOGE-ETH Bridge Release Date
A Doge-Eth bridge is currently under work and is set to go live in 2022.
Indeed, while Markus is one of the original Dogecoin developers, his role is now less focused on the actual development. This is more in the hands of the Dogecoin Core developers, who are more working towards Dogecoin 1.21.
The recently updated blog post adds how the Doge-Ethereum bridge is almost ready and will go live in 2022.
The bridge comes under the governing authority of the DAO whose genesis members are Bitgo, BluePepper, MyDoge, and the Dogecoin Foundation
The project will focus on maintaining the transparency of the transactions alongside facilitating a smooth transaction between the two protocols.
While Bitgo will act as a custodian to protect all DOGES used to mint wdoge. BluePepper on the other hand will be a merchant to facilitate the burning and minting of wdoge
As is the case with decentralised cryptocurrency, however, this doesn't mean we need to wait for the Dogecoin Core developers to create it. Indeed, there is already a bridge in the works, called Dogethereum, although progress on GitHub looks to have stalled.
Read More: New Dogecoin Tip Bot Releases On Twitter
[Image: Modestas Urbonas/Unsplash]
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