Dogecoin joins the Flare Network and launches new tools on DOGE’s use in the DeFi space. Very soon, DOGE will be allowed to be used in the Flare network as well as other chains linked to Flare. Here are the details…
Dogecoin joins the Flare network
According to the announcement by Flare, Dogecoin will be included as a FAsset. The aim of the decentralized network is to provide complete smart contract functionality to the Dogecoin ecosystem in this way. Once this functionality becomes available, Flare promises to allow the use of DOGE on Flare and other chains connected to Flare using the LayerCake bridging mechanism.
Flare is Dogecoin founder Billy Markus’ beneficiary of Dogecoin He made the above statement in response to a recent tweet he posted about things. F-Assets are key components of the Flare Network. While Spark (FLR) is the network’s cryptocurrency, users can bring their F assets to the network for use as well. This unlocks smart contracts for assets and essentially benefits non-smart contract crypto. This also allows users to participate in DeFi and other networking applications with their crypto.
Apart from Doge, other F assets in the Flare network:
- Litecoin (LTC)
- XRP (XRP)
- Stellar (XLM)
These developments will be discussed this week
As we reported as Kriptokoin.com, Tesla CEO Elon Musk stated that if more businesses start accepting, the meme cryptocurrency Dogecoin will benefit more. stated. Musk suggests using Dogecoin to tip developers. The entrepreneur recently proposed allowing Twitter users to pay for Twitter Blue subscriptions with the help of Dogecoin after acquiring a 9.2% stake in the company.
Last week, the first Dogecoin transaction without internet was sent via RadioDOGE, marking a historic moment for the meme coin. RadioDoge is focusing on using low-cost radio technology (HF/LoRaWAN) in conjunction with the global Starlink satellite network to provide inexpensive, large-scale access to Dogecoin for individuals living outside the reach of normal internet infrastructure. According to the Dogecoin Foundation, the goal of Dogecoin is to make DOGE the de facto worldwide currency for the exchange of goods and services. He says he is currently working on some projects aimed at getting the Dogecoin ecosystem ready for rapid base adoption, citing the fact that 1.7 billion people in the world are unbanked.
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