Dogecoin (DOGE) is one of the leading cryptocurrencies, though it isn’t as flexible as some alternatives. The Dogecoin Ethereum bridge could help to remedy that, however. But, what exactly is the DOGE-ETH bridge? Here’s the lowdown on what a Dogecoin x Ethereum collaboration could mean for the biggest meme crypto.
Dogecoin Ethereum bridge explained
The Dogecoin Ethereum bridge allows investors to send Dogecoin from the DOGE blockchain to the Ethereum blockchain, converting them into DOGE tokens. These tokens can interact with different exchanges, like DeFi, before returning to the DOGE blockchain as Dogecoins via the DOGE-ETH bridge.
This will allow for significantly more DOGE transactions to take place per second than previously possible. Ethereum Co-Founder Vitalik Buterin is playing a role in developing the DOGE-ETH bridge; Buterin’s active involvement with the meme cryptocurrency could be a boon in and of itself, too.
Vitalik Buterin and DOGE-ETH lead Oscar Guindzberg recently appeared in a live interview via Twitch, which interested parties can watch for additional insight. As for the basics of what the Dogecoin Ethereum bridge actually is, however, the above information has it covered.
Crypto has been back on the rise recently, following an out-of-the-blue downturn. The market rose by more than 10% as a whole earlier this week, with Bitcoin (BTC) up 12% in a single day. Seemingly, this resurgence is due to some rumors surrounding e-commerce giant Amazon. According to an apparent insider, the online retailer will start taking cryptocurrency payments before the end of this year.
While the Dogecoin Ethereum bridge is good news for DOGE holders, some are concerned that a ban may be inbound. DOGE ban fears are due to recent action within Asian countries, though it remains to be seen whether these measures will spread. Although there are no meme crypto bans in the US yet, some states are banning PC components.