The Wanchain team is happy to announce that the WanBridge for Dogecoin (DOGE) is now live. This is another important step for Wanchain as we continue to add to our growing list of well-known public chain integrations such as Ethereum, EOS, XRP Ledger, BSC, Polkadot, Litecoin, Moonriver, and Avalanche.
What Is Dogecoin?
Software engineers Billy Marcus and Jackson Palmer created Dogecoin in late 2013. In 2021, boosted and promoted by Tesla CEO Elon Musk, Dogecoin has become famous worldwide.
With the PoW consensus mechanism, DOGE is similar to BTC or ETH on the basis of blockchain technology. Besides holding DOGE in wallets, DOGE can be used as a payment method in some regions and some online shops.
Read more about Dogecoin here: https://dogecoin.com/
Workflow Of DOGE Crosschain
In the latest “Multi-chain Bridges” mechanism, we have successfully implemented the “direct bridge” mode. The so-called “direct bridge” means that assets can be transferred directly between two public chains without going through Wanchain as a relay.
Taking DOGE from Dogechain to Moonriver as an example:
- When a user starts a DOGE cross-chain transaction via WanBridge Web, the Dogechain-Moonriver WanBridge will automatically generate a one-time address (OTA).
- The user transfers DOGE (e.g. transferring 10 DOGE) to this one-time address. The Storeman Group will automatically parse the transaction and use the sMPC mechanism with at least 17 out of the 25 Storeman nodes to complete the transaction.
- The Storeman Group once again conducts sMPC (17/25) and mints the mapped asset (DOGE.m) to the target address on Moonriver specified by the user, so that the cross-chain transaction completes.
Necessary Crosschain Tools for DOGE
For DOGE crosschain, the following tools are required:
- Wallets: A wallet that supports native DOGE; MetaMask.
- Crosschain Bridge: WanBridge Web
Currently, for DOGE, the decentralized crosschain bridge supports:
- Dogechain-Avalanche
- Dogechain-Moonriver
In the near future, we will further open up the decentralized crosschain bridge for Dogechain-Wanchain so that the current wanDOGE crosschained through InstantCross will be compatible with the wanDOGE crosschained through WanBridge.
About Wanchain
True DeFi is interoperable — Wanchain, the Wide Area Network chain, is the world’s premier decentralised blockchain interoperability solution. Our mission is to drive blockchain adoption through interoperability by building fully decentralised bridges that connect the world’s many siloed blockchain networks. This crosschain infrastructure empowers developers to build truly decentralised crosschain applications to power the future of DeFi.
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