Empowering Dogecoin with Smart Contracts

Blockchain developers QED Protocol and Nexus are gearing up to introduce a layer-2 (L2) scaling solution for Dogecoin, enabling smart contracts on the memecoin network. The upcoming zero-knowledge virtual machine (zkVM) aims to level the playing field for Dogecoin against Ethereum and Solana in the smart-contract space. Unlike Bitcoin, Dogecoin lacks support for smart contracts but operates on a similar proof-of-work (PoW) blockchain. The zkVM on Dogecoin is expected to enhance the network's capabilities, allowing developers to create various high-performance applications like decentralized exchanges and NFTs. With a market capitalization of around $17 billion, Dogecoin, initially a parody of Bitcoin, has evolved into a significant player in the crypto market. QED Protocol and Nexus have already implemented scaling solutions on Bitcoin, showcasing the potential for growth in PoW blockchains. The move towards empowering Dogecoin with smart contracts signifies a broader trend in leveraging zero-knowledge technology for blockchain scalability. Read more AI-generated news on: https://app.chaingpt.org/news