Dogechain has attained some incredible heights two months after inception, with 244k unique wallets and a cumulative transaction count of 50 million.
Despite a controversial start, Dogechain – the unofficial layer-2 solution for the Dogecoin network – has seen a steady increase in adoption, with developers aiming to bring more mainstream attention to the solution through periodic developments.
The concept of the layer-2 chain has recently been received well by some proponents, as indicated by the massive growth of unique wallets and cumulative transactions. The official Dogechain Twitter handle revealed the magnificent heights the network has reached on Friday.
“In just two months, #Dogechain has reached some incredible milestones. Two of the most impressive ones remain:Â
50 million transactions.
244,000 unique wallets,” the handle noted in a tweet.
In just 2 months, #Dogechain has reached some incredible milestones. ?
? Two of the most impressive ones remain:
? 50 million transactions
? 244,000 unique walletsWe appreciate the community's support that helped us achieve so much, so quickly. ? pic.twitter.com/DilL3udWXc
— Dogechain? (Giving away a Tesla) (@DogechainFamily) October 7, 2022
The Dogechain handle further appreciated the community for its massive support. These accomplishments indicate the network’s growing adoption rate, which is only possible due to the community’s interest.
A feat of 50 million transactions and 244,000 unique wallets in 2 months is commendable, considering Dogechain’s position in the crypto ecosystem. At this growth rate, the layer-2 solution could start reaching heights attained by the top dogs in no time.
Recall that the cumulative transaction count on Dogechain was sitting at 15 million as of September 5, as The Crypto Basic earlier highlighted. The current count of 50 million marks a 233% increase in transaction count in the space of a month.
Additionally, on September 19, Dogechain introduced its unique naming system, the Doge Name Service (DNS). The naming system enables users to adopt a readable .doge address instead of a string of characters that would be hard to recall.
To introduce more value to Dogechain, the team mentioned a buyback-and-burning initiative associated with the DNS tokenomics model.
Three days after the introduction of the Doge Name Service, Dogechain announced the launch of Dogegress, which would serve as a governance platform for projects on Dogechain. The development team’s impressive work rate, coupled with the growing adoption rate, could set Dogechain up to attain greater heights before long.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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