In his recent discussion on Reddit, Vitalik Buterin stated that cryptocurrency Dogecoin will be transfered onto the Ethereum network. In particular, it covers usage of DOGE coins in Ethereum’s smart contracts.
DOGE employment in Ethereum will use two-sided pegging (sidechains), which, according to Buterin, will free the Dogecoin community from possible risks associated with Ethereum. The only obstacle for the integration is in peculiarities of the scrypt algorithm underlying Dogecoin operation. Earlier, Ethereum started developing similar solution for Bitcoin.
“Basically, the approach would be on the ethereum side to modify btcrelay into dogerelay (the hardest part there being implementing scrypt in EVM code […]), and then create an ethereum contract where you can burn 1 DOGE to create 1 E-DOGE,” Buterin said.
Read more:
http://forklog.net/dogecoin-integrates-in-ethereum-for-application-in-smart-contracts/Twitter:
https://twitter.com/forklog_enFacebook:
https://www.facebook.com/forklogen
