Dogechain is a new blockchain platform that allows users to use Dogecoin for DeFi and NFTs, among others. An important detail is that it is not an official second layer on Dogecoin. The developers and creators of Dogecoin are not involved in the project in any way.
Started as a joke
Dogecoin may have started as a joke, but with the launch of Dogechain, that could soon change. Although the market cap of several billions also makes it difficult to continue to label Dogecoin as a joke. Dogechain is now adding capabilities to Dogecoin that theoretically makes the project a competitor to Ethereum. The Dogecoin price responds well to the news with a price gain of 11 percent.
Dogechain is not a “real” second layer on Dogecoin. It is an independent network based on Polygon Edge, which makes it possible to build your own blockchains. Polygon, in turn, is the most popular sidechain of Ethereum. Polygon’s software is built to work with the Ethereum Virtual Machine, meaning it can run the same apps and games.
Not an official Dogecoin project
Despite the “link” with Dogecoin, Dogechain is not an official Dogecoin project. The Dogecoin Foundation made this clear by sharing a post stating that they have nothing to do with the project. The same message states that founders Jackson Palmer and Billy Markus are also in no way affiliated with Dogechain. Also, Dogechain is not connected to the blockchain explorer of the Dogecoin blockchain of the same name.
Dogecoiners can transform their Dogecoin into Wrapped Dogecoin via a digital bridge and then use those tokens on Dogechain. For example, to interact with DeFi applications, future NFT marketplaces and games. We don’t have to wait long for Dogechain, because the project is already live. So it is currently already possible to send your Dogecoin to Dogechain to play with your tokens there.