Launched in 2013, Dogecoin was originally issued as a joke and was published with the dog theme “Shiba Inu”. In the intervening time, DOGE gained great popularity and achieved an unexpected growth as a result of frequent references by Elon Musk. Although there are great debates when it comes to the function of Dogecoin in the market, it can now be seen that it is ready to go beyond a joke. Recently, it seems like a step taken in this regard. Dogechain was released to the market. We have compiled the answer to the question of what is Dogechain, which defines itself as a Layer-2 solution, and is it related to Dogecoin?
Where Did Dogechain Come From?
Dogechain himself dogecoin It positions it as a layer-2 for The chain apparently went live earlier this month and has been talked about frequently in the crypto industry ever since. However, in order to avoid confusion, the first thing we need to point out is that this solution is not built on Dogecoin.
Dogechain, which turned out to be using Polygon Edge to build the Ethereum compatible smart contract network, is simply a unique Ethereum sidechain running on the Polygon network blockchain software.
It is known that Dogechain and Dogecoin do not have any ties apart from the interaction elements between them, and the Dogecoin Foundation has officially announced a similar statement.
“Allegations that Dogecoin has launched a “Dogechain” testnet are false in media paid reports. […] We don’t usually comment on such things publicly as this only tends to raise attention, but multiple PR/media sites are reporting or implying that Dogecoin launched or is closely related to this token or testnet.”
Adding to the uncertainty, the project is backed by a few influencers and while captivating the community with these ads, it’s clearly putting them in a difficult spot. Any inexperienced or careless investor hearing this name will automatically conclude that there is a connection between the two. Dogechain also seems to be gaining quite a popularity in a short time.
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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.