The Dogethereum project is a smart contract-based system designed to become a bridge between the Dogecoin and Ethereum blockchains. Potentially, the system can be scaled to other compatible ecosystems.
The first test transaction of Dogethereum took place in February this year, when the developers of TrueBit sent DOGE coins to the test the Rinkeby network and back. In addition, on Wednesday, another test took place, which should bridge the exchange of tokens between the Dogecoin and Ethereum platforms. This will be possible thanks to a new smart contract. As a result, the test successfully showed small transactions in DOGETOKEN.
Doge/Ethereum bridge test live on Youtube - starting in 90 Minutes: https://t.co/KXmEDklcru | #Dogethereum #Dogecoin #DOGE #ethereum #ETH
— #hashtagnochmal (@hashtagnochmal) September 5, 2018
WHY IS IT IMPORTANT?
- The news about the launch of the Dogethereum project had a positive impact on the value of this cryptocurrency. While a week ago, bitcoin and most altcoins showed a decline, Dogecoin added more than 50% in price.
- However, the creator of Dogecoin Jackson Palmer reacted to this with a share of skepticism. He believes that the new "bridge" does not add any real value to any of the projects.