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Home Cryptocurrency

Dogecoin (DOGE) is Still on the Rise

by admin

September 23, 2018

in Cryptocurrency

Dogecoin DOGE still on the rise cryptocurrency updates

Dogecoin (DOGE) is a permanent fixture of the cryptocurrency industry. Anyone involved with the market knows of the ‘joke’ coin – which continues to be a punchline for those unfamiliar with the meme-based blockchain. Where that humor might damage a less resilient product, Dogecoin thrives due to their perceived harmlessness. When other currencies lose double-digit percentages in value, Dogecoin continues to rise.

Of course, it isn’t simply levity that causes this increase. Dogecoin is voraciously pursuing new technology and new means of use – including full-scale integration of smart contract functionality. The Dogethereum project is now in full swing. Much as Dogecoin serves as a gateway for the average techie to enter the cryptocurrency market, Dogethereum may do the same for bringing new developers to the smart contract world.

The Dogethereum Bridge

Unrelated to the token of the same name, the Dogethereum bridge is a major project between Dogecoin and the Ethereum foundation – tested live on the 5^th of September. The system allows for the exchange of superblocks between chains, and ultimately for the assetization of Dogecoin on the Ethereum chain. This inter-chain liquidity is an important milestone in the market and will lead to greater interoperability between disparate projects.

These advances in fundamental blockchain technology are a fundamental reason that crypto-enthusiasts understand the true nature of the Dogecoin blockchain. Although started on a whim as a joke, the meme-coin takes cryptocurrency seriously. Indeed, they take the advancement of cryptocurrency technology more seriously than the average goal-orientated altcoin.

Advising Elon Musk

Those that engage with the cryptocurrency community on Twitter are aware of the constant scam attempts. Malicious actors posing as tech celebrities make constant requests for cryptocurrency – with the promise of sending a larger amount back. These scammers are becoming increasingly prolific over time, with Twitter seemingly powerless to stop them. When tech guru Elon Musk found himself dealing with these scammers, he turned to Dogecoin for a solution.

Jackson Palmer, the creator of Dogecoin, offered Musk a solution. As a previous target of these coordinated scam efforts, Palmer had cleared out his Twitter replies by using a custom-made script that removed the offending messages. A later update by Palmer confirmed that Musk had received the script and that the two had chatted about the situation as is – clarifying that Twitter desperately needs to find a permanent solution.

Article By: Adam Stone