Dogecoin Co-Founder Suggests an Ethereum Bridge to Doge and Compatible NFT Markets

Dogecoin Co-Founder Suggests an Ethereum Bridge to Doge and Compatible NFT Markets

Billy Markus, the co-founder of Dogecoin, explained on Wednesday that an 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.

Dogecoin Co-Creator Thinks 2 Ideas Could Help the Doge Network

The popular crypto asset dogecoin (DOGE) has gained a whopping 7,500% during the last 12 months and reached a high of $0.731 per unit on May 8, 2021. However, DOGE is down 72% since that all-time high and 25.4% during the last month.

While the Dogecoin co-founder Jackson Palmer criticized the crypto world and said it was managed by powerful cartels, Billy Markus speaks about crypto in a positive manner.

On Wednesday, Markus tweeted about the meme-based crypto network he helped create and discussed how the project could be helped by adding two things.

“Two things I believe would help Dogecoin: [The] completion of DOGE↔ETH bridge, [and] NFT platforms (e.g. Opensea) allowing for the DOGE-ETH token to be used for purchases,” Markus added:

NFT purchasing is [in] high demand with crypto. Allowing for DOGE purchases of NFTs greatly increases its utility.

Some People Are Already Discussing a Dogecoin↔Ethereum Bridge

Markus’s idea follows the suggestions from the co-founder of Ethereum Vitalik Buterin during the first week of September.

“Personally, I hope that doge can switch to PoS soon, perhaps using Ethereum code,” Buterin said at the time. “I also hope they don’t cancel the 5b/year annual PoW issuance, instead they put it in some kind of DAO that funds global public goods. Would fit well with dogecoin’s non-greedy wholesome ethos.”

Meanwhile, a number of individuals liked Markus’s concept of an ETH ↔ DOGE bridge and NFT utility. “DOGE being implemented into the NFT ecosystem would be a huge benefit to the community,” one individual said in response to the DOGE co-creator’s tweet.

A Twitter account dubbed “DogeX” tweeted: “HEY Billy Markus our metaverse developer spoke with Steven Steele about this last week. We are actively trying to work with you on this concept while we build out the Doge X ecosystem.”

What do you think about the ideas the co-creator of DOGE shared on Twitter? Let us know what you think about this subject in the comments section below.



from Bitcoin News https://ift.tt/3zSp2pO

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