A bunch of new details about the much-anticipated Doge-Eth bridge were shared in a recent blog post. As expected, this 2-way bridge is being completed and will be put into operation in 2022.
Doge-Eth bridge is an incubation and started construction in 2017. This is a Bidirectional Bridge that will allow users to migrate Doge to the Ethereum blockchain and vice versa.
Dogecoins on the Ethereum blockchain could be used in Turing-complete smart contracts, DeFi protocols, NFT marketplaces, wallets with fancy features, etc.
The goal is to create a completely decentralized two-way bridge without creating a new blockchain. Bridges aim to be inexpensive for both users and bridge node operators. The development is funded by grants.
The Dogecoin Foundation, Blue Pepper, MyDoge, and BitGo will be the genesis members of the decentralized autonomous organization (DAO) that will be responsible for governing the protocol.
Developers have to grapple with a massive Solidity codebase and a huge number of attack vectors that could be used for hacking the bridge. In particular, currently the bridge is becoming a prime target for Defi attacks.
Aside from that, other challenges faced by Dogecoin bridge developers include the rise of Ethereum gas prices and the reluctance of actors to be required to participate.
The developers of the Doge-Eth bridge are looking forward to hearing from the community to fix it before the bridge is officially launched.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
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Doge-Eth Bridge Expected To Open In 2022
A bunch of new details about the much-anticipated Doge-Eth bridge were shared in a recent blog post. As expected, this 2-way bridge is being completed and will be put into operation in 2022.
Doge-Eth bridge is an incubation and started construction in 2017. This is a Bidirectional Bridge that will allow users to migrate Doge to the Ethereum blockchain and vice versa.
Dogecoins on the Ethereum blockchain could be used in Turing-complete smart contracts, DeFi protocols, NFT marketplaces, wallets with fancy features, etc.
The goal is to create a completely decentralized two-way bridge without creating a new blockchain. Bridges aim to be inexpensive for both users and bridge node operators. The development is funded by grants.
The Dogecoin Foundation, Blue Pepper, MyDoge, and BitGo will be the genesis members of the decentralized autonomous organization (DAO) that will be responsible for governing the protocol.
Developers have to grapple with a massive Solidity codebase and a huge number of attack vectors that could be used for hacking the bridge. In particular, currently the bridge is becoming a prime target for Defi attacks.
Aside from that, other challenges faced by Dogecoin bridge developers include the rise of Ethereum gas prices and the reluctance of actors to be required to participate.
The developers of the Doge-Eth bridge are looking forward to hearing from the community to fix it before the bridge is officially launched.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join CoinCu Telegram to keep track of news: https://t.me/coincunews
Follow CoinCu Youtube Channel | Follow CoinCu Facebook page
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