Bitcoin may be seen by many as the pack leader in the cryptocurrency space although a merger of sorts between two of the popular ‘alt coins’ is expected to be a significant event.
Now, it is not going to be an actual merger in the M&A sense, rather a new software protocol is due to be implemented to create a ‘bridge’ between Ethereum - the second largest cryptocurrency, behind Bitcoin – and Dogecoin, the meme-turned-digital currency.
The software bridge, which can alternatively be called a ‘smart contract’ has been designed to enable the transfer of Dogecoins into the Ethereum blockchain.
Crypto-evangelists claim the move will be significant as it will increase the scalability of both blockchains and, specifically, for Doge it will open up the broader services available within the Ethereum system.
The initial crossovers will be possible starting from September.
Ethereum is the second largest cryptocurrency in circulation with a US$28bn total market value, whereas the Dogecoin circulation presently stands at around US$0.33bn.