|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Dogechain, a layer-2 scaling solution for Dogecoin, announces the discontinuation of its wallet services effective June 1st. Users are advised to transfer their DOGE funds out of the Dogechain wallet and retain copies of their private keys to prevent potential loss of assets.
Dogechain Wallet Services to Cease Operations on June 1st
Dogecoin (DOGE), the popular meme cryptocurrency, has announced the impending closure of its layer-2 scaling solution, Dogechain, next month.
Mishaboar, a Dogecoin developer, issued an advisory on the social media platform X, urging investors to promptly withdraw their DOGE funds from the Dogechain wallet before its shutdown on June 1st. He also advised users to retain a backup copy of their wallet's private keys.
"Ensure you transfer your DOGE from http://dogechain.info (only use the .info domain!) before June 1st. It is also crucial to keep a copy of Dogechain's wallets' private keys. This will enable you to retrieve funds unintentionally sent or received to those addresses in the future, should you still have them in use," Mishaboar stated.
Dogechain, a Polygon (MATIC)-powered Ethereum Virtual Machine (EVM) blockchain, was designed to bridge the Dogecoin ecosystem with the burgeoning Web3 domain.
Leveraging a proof-of-stake (PoS) consensus mechanism, Dogechain facilitated swifter and more cost-effective transactions. This paved the way for the introduction of non-fungible tokens (NFTs), blockchain-based video games, and decentralized finance (DeFi) offerings to DOGE holders.
At the time of writing, DOGE traded at $0.132, representing a 10.86% increase over the preceding 24 hours. However, it is noteworthy that on March 28th, DOGE commanded a value of $0.219, indicating a substantial decline since its peak.
Dogechain's shutdown announcement has sparked concerns among DOGE investors, as it could potentially limit the coin's utility and growth prospects. It is imperative for users to promptly withdraw their funds from the Dogechain wallet before the June 1st deadline and safeguard their private keys to ensure the security of their assets.
The closure of Dogechain serves as a reminder of the evolving nature of the cryptocurrency market, where innovations and advancements are continually shaping the landscape. As the industry continues to mature, it is crucial for investors to stay informed and exercise prudence in their investment decisions.
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research!
If you believe that the content used on this website infringes your copyright, please contact us immediately (info@kdj.com) and we will delete it promptly.
-
- Altcoins Set to Explode: Crypto Analysts Predict Record Highs in 2024
- May 17, 2024 at 03:19 pm
- Altcoins Poised for Explosive Growth: Crypto Analysts Predict ATHs in 2024 As the cryptocurrency market exhibits optimistic indications of a sustained
-
- Embrace Meme Coins: Diversify Your Crypto Holdings with Bonk and Raboo
- May 17, 2024 at 03:19 pm
- Embrace the Meme Coin Revolution: Diversify Your Crypto Portfolio with Bonk and Raboo In the ever-evolving crypto landscape, where volatility reigns s
-
- Three Cryptocurrencies Poised for Takeoff: Toncoin, Render, and Algotech
- May 17, 2024 at 03:17 pm
- Toncoin, Render, and Algotech: The Crypto Trifecta Set to Soar In the ever-evolving crypto market, where fortunes are made and lost with lightning spe
-
- AI Cryptos Lead Surge in Crypto Market: Render, Bittensor, and Raboo Dominate
- May 17, 2024 at 03:14 pm
- The Rise of AI Cryptos: Render, Bittensor, and Raboo Lead the Charge The cryptocurrency market is experiencing a resurgence in 2024, with a particular
-
- Furrever Token Aims to Rival Success of Crypto Giants, Channeling Cuteness and Engagement
- May 17, 2024 at 03:14 pm
- Furrever Token: Poised to Emerge as a Crypto Giant, Rivaling the Success of XRP, Cardano, and Polygon In the ever-evolving digital asset landscape, a
-
- Shiba Inu and Dogwifhat Soar as Meme Coin Adoption Expands
- May 17, 2024 at 03:05 pm
- Shiba Inu and Dogwifhat Surge Amidst Wider Meme Coin Adoption Integration with Global Payment Service Shiba Inu (SHIB), the second-largest meme coin b
-
- USD Index Key to Bitcoin's Potential 127% Surge, Says Analyst
- May 17, 2024 at 03:04 pm
- US Dollar Index Holds Key to Bitcoin Price Surge, Analyst Predicts 127% Rally Acclaimed financial analyst Jamie Coutts from Real Vision has asserted t
-
- CoinGeek AMA Highlights Blockchain Innovations Ahead of London Conference
- May 17, 2024 at 03:03 pm
- CoinGeek Weekly Livestream AMA Explores Blockchain Advancements as London Blockchain Conference Nears In anticipation of the London Blockchain Confere
-
- Chainlink Poised for Surge as Technical Analysis Reveals Bullish Momentum
- May 17, 2024 at 03:02 pm
- Chainlink Poised for a Surge, Technical Analysis Reveals Strong Bullish Momentum NEW DELHI, India (CoinChapter.com) - Chainlink (LINK), the leading pr