KEY POINTS

  • Dogechain is now live on Polygon Edge
  • Can be used on Ethereum like all other ERC-20 tokens
  • DOGE was trading up 0.93% at $0.08215

Dogecoin has launched its blockchain explorer service on Polygon Edge, giving its holders access to Web 3 and DeFi and enabling them to write smart contracts, launch dApps, build blockchain games and even create non-fungible tokens (NFT).

"One of the early adopters of @0xPolygonEdge is rolling closer to the moon every day. #Doge chain is now live #onPolygon. It joins 40+ other projects built using the #PolygonEdge framework," Polygon announced on Twitter.

Representations of cryptocurrencies Bitcoin, Ethereum, DogeCoin, Ripple, Litecoin are placed on PC motherboard in this illustration taken, June 29, 2021.
Representations of cryptocurrencies Bitcoin, Ethereum, DogeCoin, Ripple, Litecoin are placed on PC motherboard in this illustration taken, June 29, 2021. Reuters / Dado Ruvic

Polygon Edge is a modular and extensible framework used for developing Ethereum-compatible networks, general scaling solutions and sidechains. One of its major purposes includes providing complete compatibility with Ethereum smart contracts and transactions.

It also offers a "decentralized built-in Ethereum Bridge solution, which allows for cross-chain communication. This allows users to transfer ERC-20 tokens, NFTs, or wrapped native currencies, from any EVM or Substrate compatible network," Dogechain explained in a blog post.

This Dogecoin-Ethereum bridge technology, as previously tweeted by Dogecoin core developer Michi Lumin, allows DOGE to be transferred between Dogecoin and Ethereum blockchains. This means the dog-themed cryptocurrency can now be used on Ethereum like all other ERC-20 tokens.

This allows the meme coin to be invested in DeFi protocols as well as a currency to purchase NFTs. "To sum up, Dogechain makes good use of the aforementioned Polygon Edge benefits of modularity and scalability. As a result, it provides users with a sustainable and cost-effective solution for imbuing the original Dogecoin with Ethereum smart contract capability," the blog said.

"Dogechain is bringing DeFi & long awaited utility to Dogecoin," the blog post noted. DOGE was created as a joke to the cryptocurrency industry but its popularity exploded when key personalities in the business world promoted it. Right now, DOGE is being accepted as a form of payment in many businesses and institutions including Elon Musk's Tesla and soon Starlink.

DOGE was trading up 0.93% at $0.08215 with a 24-hour volume of $393,398,365 as of 4:28 a.m. ET on Friday, based on data from CoinMarketCap.

RELATED STORIES