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{"id":6902,"date":"2021-09-30T17:47:59","date_gmt":"2021-09-30T17:47:59","guid":{"rendered":"https:\/\/cryptocurrencypanther.com\/2021\/09\/30\/dogecoin-creator-backs-ethereum-nft-compatibility\/"},"modified":"2021-09-30T17:47:59","modified_gmt":"2021-09-30T17:47:59","slug":"dogecoin-creator-backs-ethereum-nft-compatibility","status":"publish","type":"post","link":"https:\/\/cryptocurrencypanther.com\/2021\/09\/30\/dogecoin-creator-backs-ethereum-nft-compatibility\/","title":{"rendered":"Dogecoin Creator Backs Ethereum, NFT Compatibility"},"content":{"rendered":"

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Key Takeaways<\/h3>\n
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Dogecoin co-founder Billy Markus thinks that a Dogecoin-Ethereum bridge and support for DOGE as an NFT payment adoption would help Dogecoin. <\/li>\n
Markus argued that interoperability with Ethereum and NFTs would increase DOGE’s utility. <\/li>\n
While Markus is still supportive of Dogecoin despite his lack of involvement in the project, the crypto’s other co-founder, Jackson Palmer, is less enthusiastic. <\/li>\n<\/ul>\n<\/section>\n
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Share this article<\/h4>\n<\/section>\n
Markus says that the updates would boost adoption.<\/p>\n
Dogecoin Co-Founder Pushes DOGE-ETH Bridge\u00a0<\/b><\/h2>\n
Billy Markus thinks that Dogecoin could benefit from becoming more compatible with the Ethereum ecosystem.\u00a0<\/span><\/p>\n
The meme currency co-founder, who operates under the pseudonym Shibetoshi Nakamoto on Twitter, posted a tweet<\/a> today outlining two proposals for the project. He wrote:\u00a0<\/span><\/p>\n
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\u201cTwo things I believe would help Dogecoin: 1) Completion of DOGE-ETH bridge 2) NFT platforms (e.g. Opensea) allowing for the DOGE-ETH token to be used for purchases.\u201d\u00a0<\/span><\/p>\n<\/blockquote>\n
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Two things I believe would help Dogecoin:<\/p>\n
1) Completion of DOGE-ETH bridge
2) NFT platforms (e.g. Opensea) allowing for the DOGE-ETH token to be used for purchases<\/p>\n
NFTs purchasing is high demand with crypto. Allowing for DOGE purchases of NFTs greatly increases its utility.<\/p>\n
\u2014 Shibetoshi Nakamoto (@BillyM2k) September 29, 2021<\/a><\/p>\n<\/blockquote>\n
Markus added that using DOGE as a currency for NFTs \u201cgreatly increases its utility.\u201d Currently, the vast majority of NFTs are bought using Ethereum\u2019s native asset, ETH.\u00a0<\/span>The completion of the DOGE-ETH bridge would allow for greater compatibility and interoperability with the Ethereum ecosystem, something many other Layer 1 blockchains such as Avalanche and Fantom have focused on.\u00a0<\/span><\/p>\n
NFTs, otherwise known as non-fungible tokens, have exploded in popularity this year. In recent weeks, the NFT market has seen wild price speculation amid a boom in tokenized animal avatars, generative art, photography, and more in what crypto enthusiasts have dubbed \u201cNFT summer.\u201d<\/a><\/span><\/p>\n
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While ETH is the reserve asset of choice for NFTs minted on Ethereum, other Layer 1 coins like SOL and FTM have been adopted as payment options as their NFT ecosystems have grown. Dogecoin is another Layer 1 blockchain, and DOGE\u2019s popularity as a payment option could make it a fitting asset for NFT purchases.\u00a0<\/span><\/p>\n
The latest update comes nine days after AMC CEO Adam Aron asked his Twitter followers<\/a> whether his firm should accept DOGE as payment in addition to Bitcoin, Ethereum, Litecoin, and Bitcoin Cash. Respondents overwhelmingly voted in favor of the update.\u00a0<\/span>Dogecoin is known for its passionate community. The asset still has a large following of supporters despite its recent weak price action<\/a>\u00a0(DOGE is currently 71% off its all-time high recorded in May).\u00a0<\/span><\/p>\n
While Markus is no longer involved with Dogecoin, he frequently shares his suggestions and hopes for the future of the project. Meanwhile, Dogecoin\u2019s other co-founder, Jackson Palmer, has distanced himself from the entire cryptocurrency space, recently dismissing<\/a> the technology as an \u201cinherently right-wing, hyper-capitalistic\u201d space controlled by a \u201cpowerful cartel of wealthy figures.\u201d\u00a0<\/span><\/p>\n
Disclosure: At the time of writing, the author of this feature owned ETH and several other cryptocurrencies.\u00a0<\/em><\/p>\n
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Coinbase CEO Tells Dogecoin Creator Bitcoin Made \u201cMany People Wealth…<\/h3>\n
\nCoinbase CEO Brian Armstrong has responded to Dogecoin creator Jackson Palmer\u2019s recent slam on the cryptocurrency space. Coinbase CEO Defends Crypto Questions over the ideology of cryptocurrencies have sparked debate… <\/p>\n<\/div>\n<\/div>\n
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Dogecoin, Shiba Inu at Risk of Steep Correction<\/h3>\n
\nDogecoin and Shiba Inu have lost the crowd support that allowed them to skyrocket to new all-time highs. Until retail interest is back, both assets could suffer further losses.\u00a0 Dog… <\/p>\n<\/div>\n<\/div>\n
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AMC Is Considering Dogecoin Alongside Other Cryptos<\/h3>\n
\nAdam Aron, CEO of AMC Entertainment, polled his Twitter audience today on the possibility of accepting Dogecoin. More Than 80% of Respondents Support Dogecoin Aron posted this message on his… <\/p>\n<\/div>\n<\/div>\n
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How to Trade Using the Inverse Head and Shoulders Pattern<\/h3>\n
\nIn stock or\u00a0cryptocurrency trading, you may have heard of the term \u201cinverse head and shoulders.\u201d Also known as\u00a0the \u201chead and shoulders bottom\u201d\u00a0formation, the inverse head and shoulders chart pattern can… <\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n