Dogecoin Doesn’t Need an Ethereum Bridge, According to Elon Musk
Dogecoin Doesn’t Need Ethereum
Dogecoin’s founder, Billy Markus, more famously known as Shibetoshi Nakamoto, put out his opinion on Twitter today about what all could add utility to Dogecoin. The three things he mentioned were:-
1) Businesses accepting doge – the more it can be used as a currency, the better.
2) Using doge as a tipping currency – the most pure use case that brings happiness.
3) Dogecoin / Ethereum bridge – allows doge to be used with web3.
In response to this, the Tesla CEO stated that while Dogecoin certainly needs more acceptance, it could do without an Ethereum bridge.
Ethereum is known as the home of the Decentralized Finance since the chain not only houses the most protocol and TVL in the entire DeFi space but that it also holds the most utility for both investors and developers.
Due to its prominence in the crypto space, the chain serves as an excellent opportunity for other chains to attract protocol and investments by forming a bridge between the two chains.
However, in response to Elon’s comment, Shibetoshi said,
“yeah – personally i see web3 as a developer playground which is why i support it, tho i also think it’s not named properly as i don’t think it’ll take over the web, i think it’s more just like “log into some things with your crypto wallet + track virtual goods”, but i do like the idea of purchasing virtual items with dogecoin more seamlessly and being able to build EVM projects with dogecoin in mind.
ex. a website reads your crypto wallet, sees you have dogecoin, and unlocks some feature for you, i think that adds some utility to doge (sic).”
Now whether or not Dogecoin will implement an Ethereum bridge is yet to be seen but given Elon’s influence on the meme coin, it could not happen.
In fact, this influence has grown so much that even the remotest development surrounding Elon is affecting Dogecoin.