Michi Lumin, a Dogecoin Core developer, recently tweeted about a recent meeting based on the Dogecoin–Ethereum bridge that is presently under development.
The Dogecoin-Ethereum bridge is a technology that enables DOGE to be transferred between the blockchains of Dogecoin and Ethereum. Dogecoin coins may be used on Ethereum just like any other ERC-20 token, enabling them to be invested in DeFi protocols and used to acquire NFTs. Dogecoin users would be able to utilise DeFi, NFTs, and all of the Ethereum platform’s dApps.
The Dogecoin-Ethereum bridge, according to Blue Pepper, is built on Ethereum co-founder Vitalik Buterin’s Scrypt hash validation technique in Serpent, which was published in 2015.
Shibetoshi Nakamoto, the founder of Dogecoin, believes that building a bridge between DOGE and Ethereum would benefit Dogecoin. He also believes that Dogecoin would need platforms that trade non-fungible tokens (NFTs), like Opensea, to enable the DOGE-ETH token to be used for purchases.
The DOGE founder also said that purchasing NFTs with crypto is still in great demand, so using DOGE to purchase NFTs might significantly increase its usefulness.
Several discussions on Dogecoin’s use cases have emerged in recent months. Some organisations claim that the major purpose of the Dogecoin Foundation is to make Dogecoin the worldwide currency for the purchase of goods and services. Elon Musk, the CEO of Tesla, also said that Dogecoin’s usefulness would increase if more businesses embraced it.
