DOGE-ETH: What is the Dogecoin Ethereum bridge?

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Dogecoin (DOGE) is one of the leading cryptocurrencies, though it isn’t as flexible as some alternatives. The Dogecoin Ethereum bridge could help to remedy that, however. But, what exactly is the DOGE-ETH bridge? Here’s the lowdown on what a Dogecoin x Ethereum collaboration could mean for the biggest meme crypto.

Dogecoin Ethereum bridge explained

The Dogecoin Ethereum bridge allows investors to send Dogecoin from the DOGE blockchain to the Ethereum blockchain, converting them into DOGE tokens. These tokens can interact with different exchanges, like DeFi, before returning to the DOGE blockchain as Dogecoins via the DOGE-ETH bridge.

This will allow for significantly more DOGE transactions to take place per second than previously possible. Ethereum Co-Founder Vitalik Buterin is playing a role in developing the DOGE-ETH bridge; Buterin’s active involvement with the meme cryptocurrency could be a boon in and of itself, too.

Vitalik Buterin and DOGE-ETH lead Oscar Guindzberg recently appeared in a live interview via Twitch, which interested parties can watch for additional insight. As for the basics of what the Dogecoin Ethereum bridge actually is, however, the above information has it covered.

Crypto has been back on the rise recently, following an out-of-the-blue downturn. The market rose by more than 10% as a whole earlier this week, with Bitcoin (BTC) up 12% in a single day. Seemingly, this resurgence is due to some rumors surrounding e-commerce giant Amazon. According to an apparent insider, the online retailer will start taking cryptocurrency payments before the end of this year.

While the Dogecoin Ethereum bridge is good news for DOGE holders, some are concerned that a ban may be inbound. DOGE ban fears are due to recent action within Asian countries, though it remains to be seen whether these measures will spread. Although there are no meme crypto bans in the US yet, some states are banning PC components.

Exploring New Territory, DogeLabs Works to Create DOGE-ETH Bridge

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At any given point, Elon Musk seems to be one tweet away from shaking up the market. This past year, we saw many novice investors turn into millionaires amid Dogecoin pumping. Last month, DogeLabs announced plans to bridge Dogecoin with Ethereum staking products using the Doge protocol.

The co-founder of Ethereum, Vitalik Buterin spoke about the potential collaboration in an interview. He said that having a secure Dogecoin-to-Ethereum bridge would be “amazing” especially when scalability is compatible with Ethereum assets. This would enable users to trade wrapped Dogecoin with very low transaction fees at high speed.

DogeLabs brings blockchain developers and enthusiasts together.

Located in New York City and Tulsa, Okla., DogeLabs is focused on developing commercial applications around the Doge Protocol. While a long-term Dogecoin investment doesn’t seem attractive, Dogecoin’s value does hold liquidity, speed of transaction, and brand loyalty.

When I’m thinking about fees pic.twitter.com/bV2zY4e11z — Dogecoin (@dogecoin) May 19, 2021

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Aiming for mass integration and products for investors, DogeLabs is discovering, creating, and implementing “real-life” uses for the Doge Protocol. Expanding the team at Data Syndicate, the idea of building a sort of Doge-to-Ethereum bridge will open up the door for Dogecoin holders to interact with Ethereum-based protocols.

Due to relatively simple mining, which allows for faster block processing, blocks are created once every minute. Only four DOGE blockchain confirmations are needed to complete the exchange. With the speed of these transactions, Dogecoin could be an excellent means to transfer and make micropayments for websites and mobile applications.

7 of the Best Cryptocurrencies to Invest in Now

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These are seven of the best cryptos on the market. Few knew that in 2009, when the Bitcoin protocol was…

These are seven of the best cryptos on the market.

Few knew that in 2009, when the Bitcoin protocol was created in response to the economic calamities inflicted by the financial crisis, the world now had a novel asset class, not just a new digital currency. A dozen years later, there are thousands of cryptocurrencies, with varying specialties and differing degrees of utility, adoption and promise. In such a broad market, which now accounts for at least $1.3 trillion, how can investors decipher which are the best cryptocurrencies to invest in? Here’s a look at seven of the best cryptocurrencies to buy in 2021 and the bull case for each. Just as in the stock market, investors should wager only with money they’re willing to lose, as even the most blue-chip cryptos can be wildly volatile.

Bitcoin (BTC)

Theories on Bitcoin‘s utility differ, but there’s no denying that it’s been the dominant player in its field since its creation. Bitcoin’s growing adoption is its saving grace; both retail and institutional investors are primed to dip their toes into cryptocurrencies with Bitcoin first. Plus, some of today’s smartest business minds are increasingly gravitating toward the “digital gold.” Twitter Inc. (ticker: TWTR) and Square Inc. (SQ) CEO Jack Dorsey has said he doesn’t think there’s anything more important in his lifetime to work on, seeing it as a way for poor countries to guard against currency depreciation and for faster, cheaper funds transfers across borders. And although Bitcoin’s price lost more than half within two months of hitting all-time highs of about $65,000, Tesla Inc.’s (TSLA) decision to put Bitcoin on its balance sheet earlier this year could serve to usher in more corporate treasury inflows over time.

Bitcoin Cash (BCH)

As the first cryptocurrency, Bitcoin was a canary in the coal mine for other digital currencies that would follow. One aspect of the currency that many users and developers became frustrated with was the small size of the “blocks” of data on the Bitcoin blockchain, which is capped at 1 megabyte. That limit began slowing transaction times and increasing fees, an issue Bitcoin Cash sought to alleviate when it split off, or “forked,” from its parent in 2017, adopting a block size of 8 MBs. Sure, BCH isn’t as stable or widely used as its namesake, but it has a greater potential to scale and is the 12th-most valuable cryptocurrency in the world. Although it’s fallen steeply from its 2021 highs of about $1,600 in April, even current prices around $500 are well above the $342 level where it began the year.

Ethereum (ETH)

The Scottie Pippen of cryptocurrency, Ethereum has been capably playing second fiddle to Bitcoin for years now. With a market capitalization of about $276 billion, Ethereum’s share of the overall crypto market, is about 18% — a far cry from the 47% commanded by Bitcoin but more than four times the next-closest token.The native currency on the platform is technically called ether but is colloquially referred to as Ethereum. The leading platform for decentralized finance, or DeFi, Ethereum allows users to create smart contracts that automatically execute when certain conditions are met. The potential to cut out third parties such as banks, brokerages and clearinghouses makes Ethereum an exciting, money-saving platform. The rising tide of DeFi should continue resulting in higher usage of this platform, which can be used to issue new cryptocurrencies or create and exchange nonfungible tokens, known as NFTs, among other things.

Cardano (ADA)

Like Ethereum, Cardano is a decentralized blockchain platform that uses a native cryptocurrency, in this case Ada, to enable secure peer-to-peer transactions. It was founded in 2015 by Ethereum co-founder Charles Hoskinson, who left what is now the leading platform for decentralized finance to found Cardano, which is designed to use a fraction of the energy demanded by Bitcoin and Ethereum. One way Cardano does this is by using a “proof-of-stake” protocol that doesn’t incentivize high energy usage and is an increasingly popular way for blockchains to validate transactions for security reasons. Cardano, which at $43 billion is the fifth-most valuable cryptocurrency, is transitioning toward enabling smart contracts that should be fully operational by fall 2021.

Dogecoin (DOGE)

Named for the popular “Doge” internet meme of a Shiba Inu dog, Dogecoin was created as a lighthearted take on the blockchain craze. The cryptocurrency has surged about 4,000% this year, making it the eighth-largest cryptocurrency by market cap. Its price peaked in early May at more than 70 cents, though it has since pulled back. Dogecoin’s price remains well below a dollar because of its larger circulation and unlimited capacity to mine more. While Bitcoin is capped at 21 million coins, there are 130 billion Dogecoins in circulation already, with new blocks available to mine each year. Although wildly speculative, Dogecoin has a much faster mining rate, or hash rate, than Bitcoin, giving it some quantifiable advantage over the premier cryptocurrency.

Binance Coin (BNB)

One of Binance Coin’s chief advantages is that, like Bitcoin, it has a strict limit on the number of tokens in circulation. The limit is 200 million, and it’s a big reason BNB has soared to become to become the fourth-most valuable cryptocurrency in the world. The native currency of the popular Binance exchange, the coin is up more than 700% in 2021 alone. It has a different model than many of the other cryptocurrencies in the market, destroying, or “burning,” much of its currency on a quarterly basis, using one-fifth of its profits to do so. With a market capitalization of more than $50 billion, Binance Coin is no longer the instrument of pure speculation that it once was, and as long as the wildly popular Binance platform continues to grow, the BNB crypto has a bullish outlook.

Polkadot (DOT)

Unlike stocks, cryptocurrencies have debatable and subjective measures of “fundamentals.” Because of that, there are other credentials that are important to consider with crypto, with one of those being who began the project in the first place. Enter Gavin Wood, whose credibility as a co-founder of Ethereum helped drive DOT to one of the top 10 most valuable cryptocurrencies. One advantage of DOT is that it can be used as a bridge between networks, meaning applications can be built on Polkadot that work on both the Ethereum and Bitcoin networks, for instance. As one of the cryptocurrencies built after the pioneers in the industry, its features make it both more scalable and faster than its predecessors.

Seven contenders for the best crypto to buy for 2021:

— Bitcoin (BTC)

— Bitcoin Cash (BCH)

— Ethereum (ETH)

— Cardano (ADA)

— Dogecoin (DOGE)

— Binance Coin (BNB)

— Polkadot (DOT)

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