Forwarded from c0mm0n
Telegraph
From transparency to Balina FUD: a hate story
I've been involved in a debate in ICO Check which ultimately lead to create a lot of confusion. Let's put a few things straight. I'll write this as questions and answers. What was it all about in ICO Check? How did I get involved? I'd been for a while in…
Forwarded from Cointify | Blockchain & CryptoCurrency
The current DOGE rally is based on a misunderstanding of what the Dogethereum bridge is.
Dogecoin is up over 200% in a week. You might be wondering what happened. Well, here's the whole story.
Back in April, there was a planned "fork" of Ethereum made with its native currency changed to DOGX. This fork simply granted DOGX tokens based on user's DOGE holdings from some particular snapshot of the DOGE main chain.
This "project" was called Dogethereum, and was pretty much dead out of the gate. The source code was never released and as far as we can tell it was probably just a scam to steal DOGE private keys.
Fast forward to the announcement of the Dogethereum bridge. Today, reading this article, we noticed an odd quote:
Its goal, according to various reports, is to find a way to connect both cryptocurrencies and allow Dogecoin to have some of Ethereum’s features, including the ability to host smart contracts.
That is not what the Dogethereum bridge is. Obviously this "journalist" couldn't spend two seconds to validate his "various reports" and has conflated the two projects. Due to many articles parroting this misinformation, everyone is buying DOGE thinking that Dogethereum is launching in September and that either they'll be getting DOGX tokens for their DOGE or that Dogecoin will suddenly be the next Ethereum. Crypto "journalists" are doing their usual job of getting everything wrong and generally being incompetent.
Note: We're not disparaging the work on the Dogethereum bridge. It's an important project that paves the way for building bridges for other blockchains. It's just clear that the market is overreacting, likely due to bad journalism. Again.
Links to both projects:
1. DOGX Scam Fork
2. Actual Bridge with Explanation - GitHub
Dogecoin is up over 200% in a week. You might be wondering what happened. Well, here's the whole story.
Back in April, there was a planned "fork" of Ethereum made with its native currency changed to DOGX. This fork simply granted DOGX tokens based on user's DOGE holdings from some particular snapshot of the DOGE main chain.
This "project" was called Dogethereum, and was pretty much dead out of the gate. The source code was never released and as far as we can tell it was probably just a scam to steal DOGE private keys.
Fast forward to the announcement of the Dogethereum bridge. Today, reading this article, we noticed an odd quote:
Its goal, according to various reports, is to find a way to connect both cryptocurrencies and allow Dogecoin to have some of Ethereum’s features, including the ability to host smart contracts.
That is not what the Dogethereum bridge is. Obviously this "journalist" couldn't spend two seconds to validate his "various reports" and has conflated the two projects. Due to many articles parroting this misinformation, everyone is buying DOGE thinking that Dogethereum is launching in September and that either they'll be getting DOGX tokens for their DOGE or that Dogecoin will suddenly be the next Ethereum. Crypto "journalists" are doing their usual job of getting everything wrong and generally being incompetent.
Note: We're not disparaging the work on the Dogethereum bridge. It's an important project that paves the way for building bridges for other blockchains. It's just clear that the market is overreacting, likely due to bad journalism. Again.
Links to both projects:
1. DOGX Scam Fork
2. Actual Bridge with Explanation - GitHub