Dogecoin joined Flare Network!

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Written by

Skalla

graphic designer in love with science, technology and sci-fi

2 years ago

In community: Cryptocurrency and Blockchain(7b7f)

Topics: Cryprocurrency, Blockchain

According to the announcement by Flare, Dogecoin will be included in the network as a FAsset. The decentralized network aims to provide complete smart contract functionality to the Dogecoin ecosystem in this way. When this functionality becomes available, Flare promises to allow the use of DOGE on Flare and other chains connected to Flare using the LayerCake bridging mechanism.

Flare made the above statement in response to a recent tweet by Dogecoin founder Billy Markus about what benefits Dogecoin. F-Assets are key components of the Flare Network. While Spark (FLR) is the network's cryptocurrency, users can bring their F assets to the network for use as well. This unlocks smart contracts for assets and essentially benefits non-smart contract crypto. This also allows users to participate in DeFi and other networking applications with their crypto.

Other than Doge, other F entities in the Flare network are:

Litecoin (LTC)

XRP (XRP)

Stellar (XLM)