While Dogecoin has been following the general crypto recovery as its price rises and it continues to work on the Dogecoin trailmap, one external project grabbing attention is Dogechain.
This so-called Layer-2 solution for Dogecoin states it will deliver additional utilit to Doge users through DeFi, NFTs, dApps, and more. This suggests a similarity to Shibarium, the Shiba Inu Layer-2, albeit with one major difference. The Dogecoin Foundation is not involved.
Here's a closer look at Dogechain.
What is Dogechain?
Dogechain dubs itself as a Layer-2 for Dogecoin. As it states on the official website:
Dogechain supercharges DOGE to bring crypto applications like NFTs, games, and DeFi to the DOGE community. Unfortunately, $DOGE cannot support any of these applications (or any other dApps). Dogechain fixes this.
However, it isn't actually a Dogecoin Layer-2, as it is not built on top of Dogecoin. Instead, it uses Polygon Edge software, using Polygon, which itself is a sidechain of Ethereum.
Alongside this, members of the official Dogecoin Foundation have dismissed links to Dogechain.
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Is Dogechain related to Dogecoin?
Not officially. Dogechain's relation to Dogecoin is moreso just that it lets users interact through Dogecoin. It is not officially linked to the Dogecoin Core or Dogecoin Foundation, nor is it even on top of the Dogecoin blockchain.
Indeed, Dogecoin Foundation member Jens Wiechers published a Tweet noting that any claims made in sponsored posts about Dogecoin launching Dogechain are false.
Several high-profile 'influencers' appear to be promoting the project, further leading to confusion.
Others in the Dogecoin community issued further warnings against Dogechain, noting the many unknowns of the project may have "many risks and red flags".
There is also a further need for clarification in that Dogechain is the name of a popular Dogecoin blockchain explorer. This is also unaffiliated with this Dogecoin project.
In recent Doge news, it was revealed that Dogecoin creator Billy Markus has reportedly rejected a $14 million offer to promote Dogechain,
In addition to this, the new Dogecgain project is already attracting its fair share of news and headlines. Recently a dogechain developer wallet was noted dumping 1 million DC tokens a minute. T
he DC token was launched on August 24. The news has caught the attention of several community enthusiasts however, the official Dogechain twitter and team members are yet to respond to the news.