Dogecoin co-founder proposes an Ethereum-to-Dogecoin bridge as well as compatible NFT markets
On Wednesday, Billy Markus, a co-founder of Dogecoin, stated that an Ethereum bridge to the Doge network will strengthen the Dogecoin ecosystem. Non-fungible token (NFT) markets, according to Markus, “would benefit Dogecoin.”
Two ideas, according to Dogecoin’s co-creator, might help the Doge Network.
Dogecoin (DOGE), a popular cryptocurrency, has increased by 7,500 percent in the previous year, reaching a peak of $0.731 per unit on May 8, 2021. DOGE, on the other hand, is down 72 percent from its all-time high and 25.4 percent in the previous month.
While Jackson Palmer, the co-founder of Dogecoin, has attacked the crypto world, claiming that it is run by powerful cartels, Billy Markus is a proponent of the technology.
Markus explained how the meme-based crypto network he helped develop may be aided by adding two items on Wednesday in a tweet.
“I believe two things would benefit Dogecoin: [the] completion of the DOGE ETH bridge, [and] NFT platforms (e.g. Opensea) that allow the DOGE-ETH token to be utilized for purchases,” Markus said.
Some are already talking about building a Dogecoin-Ethereum bridge
Markus’ concept is based on ideas made by Vitalik Buterin, the co-founder of Ethereum, in the first week of September.
“Perhaps utilizing Ethereum technology, I hope that doge may transition to PoS soon,” Buterin stated at the time. “I also hope they don’t discontinue the yearly PoW issue of $5 billion, but instead put it into a DAO that finances global public goods. Would go nicely with Dogecoin’s healthy, non-greedy ethos.”
Meanwhile, Markus’s idea of an ETH DOGE bridge and NFT utility was well received by a number of people. One person responded to the DOGE co-tweet creators by saying, “DOGE being incorporated into the NFT ecosystem would be a great advantage to the community.”
“HEY Billy Markus our metaverse developer spoke with Steven Steele about this last week,” a Twitter user called “DogeX,” said. While we build out the Doge X ecosystem, we are actively attempting to collaborate with you on this concept.”