Dogecoin (DOGE) Approved by Flare Community as New Asset

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Sun, 01/24/2021 - 14:22
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Vladislav Sopov
More than 53 percent of Flare supporters are ready to see F-DOGE listed on platforms
Dogecoin (DOGE) Approved by Flare Community as New Asset
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Flare Networks, the development team behind the much-anticipated Flare blockchain, organized a poll on its official Twitter account. Now it is clear whether Flare supporters are welcoming the most unusual asset of all old-fashioned cryptocurrencies.

DOGE implementation approved by the Flare community

As U.Today reported previously, on Jan. 21, 2020, Flare Networks launched a community referendum with only one question. Namely, Flare supporters were asked to specify their position on the possibility of adding Dogecoin (DOGE) as an F-Asset on Flare.

Today, when the discussion concluded, it became clear that the Flare community is generally optimistic about DOGE's prospects on the platform. A whopping 53.1 percent of respondents showed enthusiasm about DOGE as a third F-asset alongside XRP and Litecoin (LTC).

https://twitter.com/FlareNetworks/status/1352359566273613824
Image via Twitter

Mr. Hugo Philion, Flare Networks CEO, stressed that the "value" behind a cryptocurrency protocol is the core criteria for new assets implementation.

Related
Flare Networks (FLR) Considering Adding DOGE as F-Asset. Why?

The poll generated great interest among Flare Network's Twitter community. Out of 64,000 followers, 11,546 crypto enthusiasts decided to take part in it.

What are F-Assets?

According to the official explanation by Flare Networks, an F-Asset should be referred to 1:1 representation on Flare of any token from another chain. Due to the trustless design of Flare, the bridge between the two protocols is established in a decentralized manner with no third party involved.

Flare is a programmatic blockchain, so bridging to it enables smart contract functionality for every blockchain connected. 
FXRP, an XRP-pegged token, will be the first one to go live on Flare. Also, recently, Flare Networks announced the integration of the Litecoin-based FLTC token.

Related
Flare Networks to Integrate Litecoin (LTC) as SEC Alleges XRP Is Unregistered Security

Furthermore, Flare will be Ethereum-compatible from day one. Flare, a Turing-complete blockchain, the utilizes FBA mechanism and Avalanche consensus. Flare's first mainnet release is expected in May 2021.

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About the author

Blockchain Analyst & Writer with scientific background. 5+ years in IT-analytics, 2+ years in blockchain.

Worked in independent analysis as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)