How To send and Receive Money  in Dogechain  

Dogechain is an EVM-compatible Blockchain created to support the initial Dogecoin cryptocurrency. It is a chain developed to add smart contract features to the original Doge meme cryptocurrency.

It is based on the Polygon Edge framework and enables users to bridge over Dogecoin and utilize it for NFTs, DeFi, GameFi, Metaverse and much more 

The Proof-of-Stake (PoS) consensus mechanism used by Dogechain depends on a predetermined number of validators, which results in faster block times and cheaper transaction costs. In PoS, validator candidates may become validators and generate blocks according to how many tokens they have staked. The token also makes use of slashing scenarios, resulting in block finality, security, decentralization, and reliability.

In essence, it is a network constructed on top of Polygon that runs on the Ethereum blockchain. As a result, you can add Dogechain to your metamask, bridge assets over to it, and interact with dapps.

Similar to what other chains like Phantom and Avanlache does, it operates as a side-chain that allows users to interact with dapps on the EVM. Dogechain is technically built upon Layer-2 (Polygon Matic) but it is a chain on its own.

How to Send and Receive Money in Dogechain

Dogechain is already operational, enabling users to move DOGE between networks and engage with decentralized exchanges (DEXs) to purchase tokens created on the chain. According to the official website, Dogecoin can also be used to pay gas fees on transactions made on the Dogechain.

Owners of Dogecoin (DOGE) can transfer their holdings to Dogechain in exchange for Wrapped Dogecoin (wDOGE), which can then be used to engage with DeFi apps as well as possible NFT marketplaces, dapps, and games on the new platform.

Read Also;

How to get the Dogechain airdrop

Dogecoin: What You don’t Know about Dogechain

Co-Founder Billy Markus Gives Reason for DOGE’s Rise

Canadian Electric Vehicle to start Mining Bitcoin and Dogecoin

To be able to use Dogechain for transactions;

1. Bridge $DOGE to $DC (Dogechain) by connecting to your desired wallet.

Note: The only wallets supported for Dogechain at the moment are MetaMask and Clover 

Because you are bridging to Dogechain, the appropriate approach is Dogecoin to Dogechain (That is after you must have connected to the wallet)

• The next screen displays; click “Confirm” to show the Doge deposit address, then send the required quantity of $DOGE to the address.

Note: 100 $DOGE is the minimum amount you can transfer or send.

 Things to keep in mind when sending money to Dogechain:

• Never deposit anything other than $DOGE across the bridge; otherwise, you will lose money.
• Deposits require 6 block confirmations of Dogecoin to be considered valid.
•  Once the platform’s wallet has received your funds, the smart contract will mint the correct quantity of $DOGE and deliver them to your Dogechain address. 

Things to keep in mind withdrawing/Receiving money to Dogechain:

• Following your withdrawal request, the protocol will send your $Dogecoin within 7 days.

• Ensure you withdraw the minimum of 100 $Dogecoin to your wallet. If you submit a lower amount, the request will be denied. 

2. Send and receive dogecoin on dogechain 

DOGE on Dogechain is an EVM compatible token and supported by MetaMask. It’s the same way you would use MetaMask to send and receive tokens. To send and receive, follow these simple steps. 

• Add the Dogechain custom network. Manually add Dogechain to your MetaMask using the details below. Log into your MetaMask, click on the network bar on the top right corner of your wallet and select Add Network.

Input theses into their appropriate fields. 

Network Name: Dogechain

New RPC URL: https://rpc01-sg.Dogechain.dog

ChainID: 2000

Symbol: WDOGE

Click save, and the Dogechain network will be accessible to you, and you’ll be able to see your wallet balances. 

• To send copy the address of the receiver by clicking on “Account 1”

• Paste the address and continue with the transaction.

• Wait to receive after you must have connected. Using the above steps.

Final Thoughts

The Dogechain project is a community-driven blockchain that aims to empower Dogecoin holders and lovers. Dogechain promises to eventually provide Dogecoin users with access to blockchain games, NFTs, and the ever-expanding DeFi ecosystem.

It is important to remember that Dogechain technology is currently in its initial stages of development. It may be prone to inconsistencies; therefore, users should use them with caution. Precautions should be taken for risks, similar to any new technology.

What do you think of this article? Share your comments below.