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Home/ Questions/Q 1066
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CoindiskusEnlightened
Asked: August 31, 20222022-08-31T05:24:00+00:00 2022-08-31T05:24:00+00:00

Could Dogecoin be ported to the Ethereum blockchain?

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  1. Coindiskus Enlightened
    2022-08-31T05:24:16+00:00Added an answer on August 31, 2022 at 5:24 am

    The simple answer is yes. Dogecoin can be ported or transferred to the Ethereum Blockchain. A concept of wrapped crypto comes to play here. This is also what some people call bridging. A bridge is a piece of contract that allows you to have tokens from another chain on your chain of choice. I hope I did not lose you so far. Okay, let me give it another shot. Let’s say you want to move 20 $DOGE from the dogecoin chain to the Ethereum blockchain. You will be able to do this through a bridge. So, what will the bridge do? The bridge will hold your original Doge momentarily and mint Wrapped Doge which is an ERC-20 token, that is compatible with the Ethereum blockchain. You can use the wrapped Doge on Ethereum as if it is the original $DOGE token. Don’t worry, it mirrors the exact same price as the original DOGE. Once you are done with having your Wrapped doge on Ethereum, you can easily transfer them back to the Doge protocol. The wrapped DOGE will be burnt/destroyed and your Original $DOGE will be deposited in your wallet. I hope that explanation helps.

    Happy porting!!

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  2. Marry Wilson Begginer
    2022-10-05T12:18:21+00:00Added an answer on October 5, 2022 at 12:18 pm

    The Dogecoin-Ethereum bridge is a piece of technology that lets DOGE be moved from the Dogecoin blockchain to the Ethereum blockchain. Dogecoin coins can be used on Ethereum just like any other ERC-20 token. This means they can be invested in DeFi protocols and used to buy NFTs.

    The Ren Project has enabled Dogecoin (renDOGE) to be used on the Ethereum blockchain  development and access the DeFi network.

     

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