Dogechainjust two months after its inception, it outperformed with 244,000 unique wallets and 50 million cumulative transactions.
Despite a controversial start, dogecoin Dogechain, the unofficial layer 2 solution for the network, has seen steady growth and growth in adoption, with developers aiming to draw more attention to the solution through periodic improvements.
The concept of tier 2 chain has recently been embraced by the community, as can be clearly seen by the enormous growth of unique wallets and cumulative transactions. The official Dogechain Twitter account shared key milestones the network reached on Friday.
“In just two months #Dogechain has reached some incredible milestones. The most impressive are: 50 million transactions. 244,000 unique wallets.”
In just 2 months, #dogechain has reached some incredible milestones. 🚀
🤯 Two of the most impressive ones remain:
🔸 50 million transactions
🔸 244,000 unique walletsWe appreciate the community’s support that helped us achieve so much, so quickly. 🙏 pic.twitter.com/DilL3udWXc
— Dogechain💜 (Giving away a Tesla) (@DogechainFamily) October 7, 2022
Koinfinans.com As we reported, the Dogechain account thanked the community for their collective support. These successes have come with the increasing adoption rate of the network, which was only possible due to the interest of the community.
Considering Dogechain’s position in the crypto ecosystem, the success of 50 million transactions and 244,000 unique wallets in 2 months is indeed commendable. At this rate of growth, the tier 2 solution is the best dog themed meme coinIt can start to reach the heights reached by ‘s in a short time.
The cumulative number of transactions on Dogechain was recorded as 15 million as of September 5. The current number of 50 million indicates a 233% increase in the number of transactions in one month.
Additionally, on September 19, Dogechain introduced its unique naming system, Doge Name Service (DNS). The naming system allows users to adopt a readable .doge address instead of a string of hard-to-remember characters.
The team talked about a buyback and burn initiative associated with the DNS tokenomic model to bring more value to Dogechain.
Three days after the launch of Doge Name Service, Dogechain announced the launch of Dogegress, which will serve as a governance platform for projects on Dogechain. The impressive pace of work by the development team, coupled with the increasing adoption rate, could soon prepare Dogechain to reach higher ground.
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Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.