{"id":603197,"date":"2024-11-23T04:03:30","date_gmt":"2024-11-23T04:03:30","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=603197"},"modified":"2024-11-23T04:03:30","modified_gmt":"2024-11-23T04:03:30","slug":"doge%c2%b2-is-a-meme-coin-aiming-to-change-the-way-people-perceive-dogecoin","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/doge%c2%b2-is-a-meme-coin-aiming-to-change-the-way-people-perceive-dogecoin","title":{"rendered":"Doge\u00b2 is a Meme Coin Aiming to Change the Way People Perceive Dogecoin"},"content":{"rendered":"

Dogecoin’s social attributes transformed it into the best meme coin investment on the market, as evidenced by the token’s high market capitalization.<\/p>\n

However, since most of the token’s attributes are limited to social media, when it comes to real use cases, people don’t have many options. Doge\u00b2<\/a> is a meme coin project designed to fix this issue, providing its own unique Layer 2 solution that may eventually transform Doge\u00b2 into a more valuable asset.<\/p>\n

What is Doge\u00b2?<\/h2>\n

“Supercharge Dogecoin with next-gen layer 2 scaling.” This is how the official website introduces Doge\u00b2. Essentially, Doge\u00b2 is a meme coin project developed on the Ethereum blockchain\u2014a Layer 2 solution that envisions boosting Dogecoin’s speed, efficiency, and utility. It leverages Ethereum L2’s architecture to accomplish that, and down the line, it will migrate to Dogecoin’s L2 solution, transforming Dogecoin into a utility-centric crypto worth more value in the long run.<\/p>\n

\"What<\/p>\n

The idea is to inject more utility into Dogecoin by making the Dogecoin network faster and charging a lower fee. This approach will open roads for the development of decentralized applications and easy payments. Furthermore, the bridge between Ethereum and Dogecoin will allow transfers to be seamless while unlocking new opportunities in DeFi and gaming as well.<\/p>\n

How Does Doge\u00b2 Plan to Enhance the Usability of Dogecoin?<\/h2>\n

Doge\u00b2<\/a> has crafted a strong outline covering six ways that it aims to change the traditional Dogecoin paradigm, turning it from a simple crypto asset to a utility-centric cryptocurrency that could hold long-term potential. It plans to do so using the following:<\/p>\n

Introducing Layer 2 on Ethereum<\/h3>\n

The first noteworthy element that Doge\u00b2 will introduce is leveraging the Layer 2 Solution on Ethereum using rollups and zk-rollup technology to bundle transactions to enhance speed and efficiency. This will allow $Doge\u00b2 to scale infinitely.<\/p>\n

Transitioning to Dogecoin Layer 2<\/h3>\n

As the project develops further, the plan is to transition it towards Dogecoin Layer 2. It will build on top of Dogecoin, which will reduce the burden on the main DOGE chain and offer fast transactions at a lower cost.<\/p>\n

Cross Chain Communication<\/h3>\n

The act of transitioning from Ethereum to Dogecoin will essentially allow Doge\u00b2 to establish cross-chain communication. Being able to tap into multiple networks is one of the most endearing factors people look for in new blockchain technology. This bridging can bring together meme coin communities in new ways, altering the perceptions around meme coins in general.<\/p>\n

A Look Into Doge\u00b2 Tokenomics<\/h2>\n

Simplicity is the key factor when we discuss Doge\u00b2 tokenomics. Since the project itself focuses so much on the community, most of the tokens of the total supply are being given to the public via the presale. This approach will ensure that the community holds the reins of the project, which, in the current crypto space, is a significant factor. Here is a complete breakdown of this unique tokenomics:<\/p>\n