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DogeChain Reaches Massive Heights in just 2 Months, Including a Feat of 244k Unique Wallets

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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: 

50 million transactions.

244,000 unique wallets,” the handle noted in a tweet.

 

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.

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Albert Brown
Albert Brownhttps://thecryptobasic.com/
Albert Brown is a cryptocurrency investor and journalist who has been in the nascent space since 2017. His love and passion for technological innovations made him delve deeper into the world of blockchain and cryptocurrencies. As a journalist, Brown has written on several crypto-related topics that have been referenced by popular industry players like Tyler Winklevoss, Binance CZ, etc.

Disclaimer: The content is for informational purposes only, may include the author's personal opinion, and does not necessarily reflect the opinion of TheCryptoBasic. All Financial investments, including crypto, carry significant risk, so always do your complete research before investing. Never invest money you cannot afford to lose; the author or the publication does not hold any responsibility for your financial loss or gains.

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