Dogecoin (DOGE) co-founder Billy Markus addressed the DOGE community, incentivizing it to work on both a DOGE-ETH bridge and NFT platforms for DOGE and ETH purchases. As he said, this could help DOGE increase its utility and use-cases. This comes at a moment in which DOGE fell to the 10th position in the cryptocurrency market.
Dogecoin Co-Founder Pushes for a DOGE-ETH Bridge
One of the main problems of the cryptocurrency community is related to the lack of interoperability across blockchain networks. This is something that affects not only Bitcoin (BTC) but also other digital assets such as Dogecoin or Ethereum. This is why Billy Markus wrote a tweet in which he suggests two things that could help Dogecoin in the long term: the completion of a DOGE-ETH bridge and NFT platforms on DOGE.
The first thing to say about the proposed bridge is that there are other blockchain networks that are already working with bridges to increase interoperability. One of these blockchain networks is RSK, which offers Bitcoin’s security but is connected with the Ethereum ecosystem thanks to a bridge.
The same could now be done with DOGE and ETH. This would definitely be a positive thing for both networks as there could be projects moving from one blockchain to the other. Moreover, it could also be a good way to let DOGE users enjoy the ETH ecosystem without having to be worried about interoperability.
Talking about NFTs, the industry has massively expanded in recent years, but specifically in 2021. NFT marketplaces became very popular with Opensea offering a wide range of solutions to artists, content creators and more. Collectors and NFT holders are now able to get access to a wide range of NFTs thanks to these new marketplaces working mostly on the Ethereum network.
But, would it be possible to start creating new solutions on top of Dogecoin and creating a connection to the Ethereum platform? It might be possible to do so and this could not only help Dogecoin remain among the top 10 virtual currencies but it can also be a great way to incentivize the community and create new projects and solutions using DOGE.
At the time of writing this article, DOGE is the 10th largest virtual currency in the market with a valuation of $29 billion. Moreover, it has a price per coin of $0.22. Let’s not forget that during the bull market, DOGE surged to over $0.60 per coin.