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Memecoin cryptocurrency Dogecoin introduces Dogechain—a blockchain for NFTs, DeFi, and games. As Doge itself does not support crypto applications, the team behind it has decided to change it.
The new blockchain brings a variety of perks to Dogecoin holders. For instance, individuals can now pay gas fees with $DOGE. This allows users to finally utilize the cryptocurrency and not just hold it. More than that, the developers claim Dogechain to be very fast and the fees to be relatively low.
Additionally, the creators will introduce $DC, the native token of Dogechain. $DC will give community members access to exclusive “Holders Only” benefits and perks and let users participate in proof of stake governance.
The Doge team will airdrop millions of tokens to Doge holders later this year. Furthermore, the developers plan to make $DC the future “go-to token” for decentralized applications, smart contracts, and fueling transactions.
“Dogechain is a new blockchain entirely built and designed to be community-driven. No VCs, no big promises that we can’t keep, such as 1 Trillion Transactions Per Second powered by a world-changing consensus algorithm. We’re an honest project that simply seeks to bring blockchain applications to the Dogecoin community,”states the website of the project.
At the time of writing, the price of Dogecoin is $0.08391 USD. The token price increased following the introduction of Dogechain on August 1. However, some users are still skeptical about the meme currency—only time will show if the developers’ move will bring Dogecoin the status of a serious cryptocurrency.
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