The announcement that Dogecoin will be a Rinkeby testnet of Ethereum had created quite a stir in the cryptocurrency world. But the developers of Dogecoin have negated any association with the impending hard fork which shares the same name, Dogethereum.
The Rinkeby Project
The Doge-Ethereum bridge project is an ongoing development which will let Dogecoin ride on Ethereum so it can be used in smart contracts. The project is testing the Ethereum network, being perceived as a defining moment in DOGE history.
It will bring Dogecoin to the regular traders and suppliers from the entire crypto community. The Dogethereum Bridge will also scale up Dogecoin transactions greatly, thus improving its use.
Nicoll denied the negative rumours concerning Dogecoin, saying that like all other cryptocurrencies it has updates, occasional releases as well us usability which is regularly stress tested.
Nicoll said in an interview that: “We are very very careful with everything we do. We’re taking code that is well tested … keeping half a billion dollars of people’s money over four years stable. . . We’re doing very very very well.”
Dogethereum (DOGX) Hard Fork
There hard fork referred to as Dogethereum (DOGX) will be expected to separate from its current blockchain later this year. So far, Dogecoin has never experienced a hard forked. DOGX will be the first hard fork in the cryptocurrency’s history. It is a bit confusing though that the impending hard fork is named the same as the aforementioned Dogethereum Bridge Rinkeby project.
Dogethereum (DOGX) will be a whole new decentralised digital currency that will be created from a snapshot of the original Dogecoin (DOGE). The new coin’s developers have described it on Bitcointalk: “Dogethereum is the new decentralised digital currency, it will be founded on a snapshot of popular Dogecoin, based on ETH algorithm with the fastest speed of transactions, smart contracts,”
The developers behind the coin revealed that DOGX will not be pre-mined and even pre-sale(d). Thus Dogecoin owners will receive Dogethereum at a 1:1 ratio.
Confusion In the Community
“Our goal is to give Doge currencies a completely new development vector, without mining on ASIC, but with speed and simplicity. The community manages the project, so there will be no ICO, no preliminaries, and no other manipulations,” said the creators of DOGX.
While any hard fork in the crypto community is welcomed, the developers at Dogecoin have recently dissociated themselves from the upcoming hard fork. The clarification was made in a Twitter post on Dogecoin’s account.
“Very clarification: The Dogecoin Core developers are not involved in nor endorse the upcoming Dogethereum (DOGX) “hard fork”. It is also *not* related at all to the DOGE-ETH-Bridge project! As always, be careful, shibes,” read the tweet.
This explicatory information comes at a time when there is great confusion amid community members. Both projects are named the same, and they are under development. But in spite of this misinformation, Dogecoin (DOGE) enthusiasts are still pleased about the exposure their coin is receiving.