What is dogechain (Dogecoin)?

Dogechain brings crypto applications like NFTs, games, and DeFi to the $Dogecoin community. Dogechain is a new EVM-compatible blockchain that aims to complete the original Dogecoin cryptocurrency. Dogechain looks to bring true utility to Dogecoin. The chain exists 100% independently of the Dogecoin blockchain.

Can you use $Doge on dogechain?

You can’t use $DOGE directly on Dogechain. Instead, Dogechain has built a bridge to facilitate the transfer of tokens from the dogecoin blockchain. A (3-of-5) multi-sig smart contract holds the $DOGE sent to the chain in escrow (burning) and mints $wDOGE at a 1:1 ratio in return.

Does Dogecoin have a new blockchain?

Released to the public in 2014, Dogecoin has become one of the most popular cryptocurrencies along with Bitcoin and Ethereum. Now there is a new blockchain named Dogechain built by Dogecoin holders for Dogecoin holders that aims to make a splash. What Is Dogechain?

Is dogechain a layer 2 network?

However, Dogechain isn’t a true layer-2 network in that it’s not built on top of Dogecoin. Instead, it’s a separate network based on Polygon Edge, which is custom blockchain software from Polygon, the most popular Ethereum sidechain.