Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
Billy Markus, a software engineer who co-founded DOGE together with Jackson Palmer back in 2013, has taken to Twitter to suggest two things that, in his view, will help Dogecoin to become a more widely used cryptocurrency and possibly attract more users into the ecosystem.
"Doge needs NFTs and ETH bridge"
According to Markus, Dogecoin will improve when a bridge between DOGE and Ethereum is completed.
The second thing is that the most popular meme cryptocurrency needs platforms that trade non-fungible tokens (NFT), such as Opensea, and that will agree to accept DOGE compatible with Ethereum as payment.
At the moment, NFTs are in high demand in the crypto community with crypto used for purchasing them, Markus tweeted, adding that using DOGE for NFT purchases will turn it into a coin with high utility.
Two things I believe would help Dogecoin:— Shibetoshi Nakamoto (@BillyM2k) September 29, 2021
1) Completion of DOGE-ETH bridge
2) NFT platforms (e.g. Opensea) allowing for the DOGE-ETH token to be used for purchases
NFTs purchasing is high demand with crypto. Allowing for DOGE purchases of NFTs greatly increases its utility.
Vitalik Buterin hopes Doge will switch to PoS
As reported by U.Today earlier this month, on Sept. 2, a co-founder of the second-biggest blockchain platform, Ethereum, tweeted that he hoped Dogecoin would switch to the proof-of-stake (PoS) consensus algorithm—perhaps using the Ethereum code to do that. However, he believes that Doge should maintain its annual issuance of five billion coins via proof of work (PoW).
That was Vitalik's response to a question from The Three Arrows Capital founder, Zhu Su, who asked him to suggest ideas about how Ethereum and Doge could collaborate in the near future.
Aside from that, Buterin suggested that the co-founders of Dogecoin could put its massive emission of DOGE into some sort of a DAO that "funds global public goods."
Buterin emphasized that this step would fit pretty well with Dogecoin's "non-greedy wholesome ethos."
As reported earlier, Vitalik Buterin joined Dogecoin's advisory board. After it happened, his father, Dmitry Buterin, tweeted that the presence of Vitalik on the board may make DOGE a better coin.