This paper is a draft and will be subject to ongoing modifications. We welcome readers to provide feedback as we value your input. Please feel free to send your feedback to contact@dogelayer.org.
Dogelayer is the Layer 2 for Dogecoin, which makes Dogecoin programmable, faster, more widely used and accepted.
Dogecoin, a cryptocurrency that began as a lighthearted joke, has surprisingly evolved into a notable player in the digital currency world. Born out of a meme featuring a Shiba Inu dog with captions written in Comic Sans font, Dogecoin was created in December 2013 by software engineers Billy Markus and Jackson Palmer.
Initially, Dogecoin aimed to mock the rampant speculation and hype surrounding cryptocurrencies. However, it quickly gained a dedicated community of supporters who embraced its fun and friendly nature. This community, known as the "Doge Army," played a crucial role in its development and promotion.
Despite its humorous origins, Dogecoin has experienced significant growth and development. It operates on a decentralized network similar to Bitcoin, with a consensus algorithm called Proof-of-Work. As of now, the Dogecoin network boasts a substantial number of nodes, contributing to its robustness and security.
| Key | Value |
|---|---|
| Max Supply | No limit |
| Total Supply | 142,009,086,384 DOGE |
| Market Cap | 11,114,589,192 USD |
| Annual Increase | 5,256,000,000 DOGE |
| X Fans | 3,800,000 |
| Hash function | Scrypt-based |
| Block time | 1 minute |
| Block reward | 10,000 DOGE |
| Consensus | Proof-of-Work |
One of Dogecoin's notable features is its faster transaction speed. With block times of approximately one minute, transactions are confirmed swiftly compared to other cryptocurrencies. This attribute has made Dogecoin popular for microtransactions and tipping content creators online.
In terms of transaction volume, Dogecoin has witnessed considerable activity. Its vibrant community actively engages in various online platforms, resulting in a significant number of transactions. The simplicity and low transaction fees of Dogecoin have also contributed to its popularity as a medium of exchange.
Regarding the total supply, Dogecoin has no maximum limit. Unlike Bitcoin's capped supply of 21 million coins, Dogecoin operates on an inflationary model. Currently, billions of Dogecoins have been issued, with a yearly inflation rate that gradually decreases over time.
Furthermore, Dogecoin is often hailed as a more decentralized and internet-native currency. Its community-driven nature and widespread adoption on social media platforms have positioned it as a symbol of internet culture. Dogecoin's lightheartedness and accessibility have attracted a diverse user base, including individuals interested in exploring the world of cryptocurrencies.
While Dogecoin's journey started as a joke, it has emerged as a unique and influential digital currency. Its origins, development history, growing node count, fast transactions, significant transaction volume, uncapped supply, and association with internet culture have established Dogecoin as a distinct and intriguing player in the cryptocurrency landscape.
While Dogecoin has gained popularity, it does have some drawbacks. Its transaction speed is relatively slow compared to other cryptocurrencies, and transaction costs can be higher. These factors hinder its potential to become a practical everyday currency. Additionally, existing Dogecoin holders often find limited utility for their holdings.
DogeLayer aims to strengthen Dogecoin. DogeLayer proposes innovative solutions to enhance transaction speed, reduce costs, and provide additional functionality for Dogecoin holders. DogeLayer seeks to unlock new possibilities and improve the overall user experience, making Dogecoin a more versatile and practical digital currency for everyday use.
Dogelayer, a groundbreaking project, envisions transforming Dogecoin into "The People's Currency: From Concept to Reality." It aims to accelerate the widespread adoption of Dogecoin and establish it as a daily internet currency for payments and tipping. By leveraging its unique features, Dogelayer intends to disrupt the market and revolutionize the way people engage with cryptocurrencies.
One of Dogelayer's key objectives is to enhance the accessibility and usability of Dogecoin. It strives to create a seamless user experience, facilitating faster transactions and reducing costs. This advancement will empower individuals to effortlessly utilize Dogecoin for various online transactions, driving its acceptance as a mainstream digital currency.
Moreover, Dogelayer aims to support "The People's Finance" by integrating decentralized finance (DeFi) capabilities into the Dogecoin ecosystem. This integration will enable users to participate in a wide range of financial activities, such as lending, borrowing, and yield farming, directly through Dogecoin.
Additionally, Dogelayer aspires to empower Dogecoin as "The People's Assets" by facilitating the creation and management of ERC20 tokens on the Dogecoin blockchain. This feature will unlock opportunities for individuals and organizations to tokenize assets, ensuring greater liquidity and accessibility to a broader range of digital assets.
With its innovative vision and unique offerings, Dogelayer has the potential to disrupt the market and revolutionize the way people perceive and utilize cryptocurrencies. By turning Dogecoin into "The People's Currency," it aims to create a more inclusive and user-centric financial ecosystem, empowering individuals globally. The integration of DeFi capabilities and support for various digital assets will further enhance the versatility and potential of Dogecoin, making it a force to be reckoned with in the cryptocurrency landscape.
Introducing the UTXO Asset Format, a groundbreaking asset paradigm specifically tailored for the Dogecoin blockchain. This new design encompasses innovative asset symbols, cutting-edge technologies, and advanced asset carrying formats. Our vision is to issue the wDoge currency and implementation of the StableCoin, revolutionizing asset transactions on the Dogecoin network.
With the UTXO Asset Format, users can enjoy enhanced security, efficiency, and interoperability for their asset transactions. Furthermore, we are proud to announce the support for Inscriptions, enabling users to embed personal messages or data within their asset transactions, adding a unique touch to their interactions.
Through the issuance of wDoge and the implementation of the StableCoin, we aim to provide a comprehensive ecosystem where users can seamlessly engage in decentralized finance activities, including lending, borrowing, and other financial services.
The UTXO Asset Format represents a significant leap forward, propelling Dogecoin into the next generation of asset management and opening up new possibilities for the community to explore and leverage the potential of this beloved cryptocurrency.
DRC-20 assets, short for Doge Real Cool, are similar to BRC-20 tokens and are issued on the Dogecoin network. These assets can be seamlessly transferred across chains to the Dogelayer blockchain, enabling participation in various DeFi activities. DRC-20 tokens inherit the robustness and security of Dogecoin while unlocking the potential for decentralized finance. With DRC-20 assets, users can explore a wide range of DeFi services, including staking, lending, borrowing, liquidity provision, and yield farming. This integration of DRC-20 with Dogelayer opens up new opportunities for Dogecoin holders to engage in the rapidly evolving DeFi ecosystem, maximizing their investment potential.
DogeCoin, while gaining popularity, faces certain technical challenges in its current state. The existing technology infrastructure lacks robust tools and features required for a seamless user experience. Recognizing this, we have made valuable contributions to address these limitations.
libdogelayer encapsulates all the APIs of Dogecoin and provides the functionality to transfer assets to Dogelayer. Users can also utilize libdogelayer to interact with a rich set of dApps on Dogelayer.
Dogelayer-tunnel allowing Dogecoin to be transferred to Dogelayer-Runtime, users would have the experience of seamlessly bridging between two ecosystems, benefitting from the diverse DeFi applications and liquidity available on the Dogelayer ecosystem.
Dogelayer-Runtime contains Dogelayer-Blockchain and Dogelayer-Offchain-SDK. Dogelayer-blockchain is fully compatible with EVM. Users can also using Dogelayer-Offchain-SDK to create complex software and write compute result back to Dogelayer-Blockchain.
Introducing our Payment Network, a seamless integration that enables effortless connection between ordinary web 2.0 pages and mobile app to the Dogelayer network. With this solution, users can easily utilize Dogecoin for small-scale payments and tipping on web pages and apps. The Payment Network simplifies the process, making it user-friendly and accessible to individuals without extensive technical knowledge. By bridging the gap between web 2.0 platforms and the Dogelayer network, we aim to promote the widespread adoption of Dogecoin as a means of convenient and hassle-free transactions and tipping in the digital realm.
Below is an example code for integrating the Payment Network into an web 2.0 page:
<script src="https://your.dogelayer_pay.url/modal/dogelayer_pay.js"></script>
const axiosClient = axios.create({
baseURL: DOGELAYER_PAY_URL,
timeout: 5000,
responseType: 'json',
headers: {
'Content-Type': 'application/json',
Authorization: DOGELAYER_PAY_AUTH
}
})
const invoiceCreation = {
price: 12345,
currency: 'USD',
orderId: 'something',
itemDesc: 'item description',
notificationUrl: 'https://webhook.after.checkout.com/goeshere',
redirectURL: 'https://go.here.after.checkout.com'
}
const response = await axiosClient.post('/invoices', invoiceCreation)
const invoiceId = response.data.data.id
window.dogelayer_pay.showInvoice(invoiceId)
window.dogelayer_pay.onModalWillEnter(yourCallbackFunction)
window.dogelayer_pay.onModalWillLeave(yourCallbackFunction)
window.dogelayer_pay.onModalReceiveMessage(yourCallbackFunction)
We have developed a new blockchain explorer, providing users with a comprehensive view of the DogeCoin blockchain. This explorer offers enhanced functionality, including transaction tracking, address monitoring, and real-time network statistics, empowering users with valuable insights into the blockchain's activity.
Additionally, we have introduced a testnet wallet, allowing developers and enthusiasts to experiment and test their applications in a secure environment. This testnet wallet facilitates the development of innovative solutions without risking real funds.
Moreover, we have focused on improving security by implementing a multi-signature wallet solution. This feature enhances the protection of user funds and provides an extra layer of security against unauthorized transactions.
These contributions, such as the new blockchain explorer, testnet wallet, and multi-signature wallet, strengthen the foundation of DogeCoin's layer 1 infrastructure. By addressing technical gaps and enhancing user experiences, we aim to foster a more secure and user-friendly environment for DogeCoin and its community.
With Programmable capability, Dogecoin users would experience enhanced functionality, decentralized applications, and automated transaction execution, expanding the possibilities and creating a more interactive and innovative ecosystem.
With Dogelayer payments offering instant settlement and minimal transaction fees, users would enjoy a seamless and cost-effective experience, eliminating delays and reducing financial friction in transactions. Web 2.0 apps and websites can easily integrate with Dogecoin payment systems.
Individual Dogecoin can be inscribed with arbitrary content, creating Dogecoin-native digital artifacts that can be held in a Dogecoin wallet and transferred using Dogecoin transactions. Inscriptions are as durable, immutable, secure, and decentralized as Dogecoin itself.
Dogelayer Coin (DLC) is designed with a comprehensive allocation principle and a clear economic model. DLC will be distributed to the core development team, advisors, investors, and community members.
The primary purpose of DLC is community governance. Holders of DLC have the ability to participate in decision-making processes, proposing and voting on key matters that shape the future of the project. This governance model ensures that the community has a voice and actively participates in the development and evolution of the Dogelayer ecosystem.
In addition to governance, DLC serves as a utility token within the ecosystem. It can be used for various purposes, including but not limited to:
Payment: DLC can be used as a means of payment within the Dogelayer network, facilitating transactions and fostering a vibrant ecosystem.
Rewards and Incentives: DLC holders can earn rewards and incentives for active participation, contributing to the growth and success of the community.
Staking and Governance: DLC can be staked to secure the network and participate in the consensus mechanism. Stakers are rewarded for their contribution to network security.
The economic model of DLC ensures a fair and balanced distribution among the key stakeholders, aligning the interests of the development team, advisors, investors, and the wider community. This approach fosters a sustainable and decentralized ecosystem where the collective wisdom of the community drives the project's success.
Dogelayer adopts a unique governance model where all DogeLayer Coin (DLC) holders collectively govern the DogeLayer network. This governance structure extends to the management of Layer1 assets. The DogeCoin Keeper is elected to oversee Layer1 asset management through a multi-signature mechanism, ensuring transparency and accountability.
In terms of mining, participants can stake DLC tokens to join the Proof-of-Authority (PoA) consensus mechanism and contribute to the DogeLayer Runtime network. By doing so, they actively participate in the governance and decision-making processes of the DogeLayer project.
The governance functionality allows DLC holders to initiate improvement proposals, fostering a culture of continuous enhancement. Through a voting system, DLC holders can express their opinions and vote on proposed improvements, actively shaping the future direction of the DogeLayer project.
This governance model ensures that the DogeLayer project remains community-driven and decentralized, with all stakeholders having a say in its development. By actively engaging DLC holders in decision-making processes, the project aims to foster a collaborative environment that encourages innovation and ongoing improvement.
Through this comprehensive governance structure, DogeLayer empowers its community to drive the project's growth, ensure efficient asset management, and continuously improve the overall DogeLayer ecosystem.
Stage 1: Genesis
Stage 2: Enriched Assets and Enhanced Performance
Stage 3: Increased Decentralization
Our project is driven by the community and embraces a fully decentralized philosophy. Developers are an integral part of the community. With a market of significant size, our idea aims to empower and benefit the community.
Central to our approach is the concept of decentralization. We believe in categorizing the community into distinct groups: users, DogeCoin holders, and investors. Each group plays a crucial role in driving the project forward.
We emphasize the core strengths of our project developers, who excel in areas such as cryptography, mathematics, engineering, internet technology, blockchain, and app development. Their expertise ensures the project's technical foundations are solid and innovative.
The collaboration between DogeCoin holders and ecosystem project developers is pivotal in propelling the project's growth. By working together, they contribute to the development and expansion of the project, leveraging the collective knowledge and resources of the community.
Through our community-driven and decentralized approach, we aim to create a vibrant ecosystem that benefits all stakeholders. By aligning the interests of DogeCoin holders, investors, and users, we foster a collaborative environment where everyone has a voice and actively contributes to the project's success.
Our project is poised for a remarkable future with a bright path ahead. By embracing a community-driven and decentralized approach, we empower users, DogeCoin holders, and investors to shape our project's growth. With a market of significant size, we tap into its potential while fostering innovation and expertise. Our core developers, adept in cryptography, mathematics, engineering, internet technology, blockchain, and app development, drive our project's success. By prioritizing sustainable development and building a robust infrastructure, we ensure long-term viability. Together, we are confident in creating a vibrant ecosystem that propels us toward a prosperous and impactful future.
The information provided in this document is for informational purposes only and should not be construed as investment advice. The content presented does not constitute an offer, solicitation, or recommendation to buy or sell any securities or financial instruments.
The future of the project is subject to ongoing adjustments and revisions. The team reserves the right to modify, alter, or update various designs, features, and plans without prior notice. While we strive to ensure the accuracy and timeliness of the information, we make no representations or warranties of any kind, express or implied, regarding the completeness, reliability, suitability, or availability of the information contained herein.
Any reliance you place on the information provided is strictly at your own risk. We disclaim any liability for losses or damages, whether direct, indirect, incidental, consequential, or otherwise, arising from or in connection with the use of this document or any information contained within.
We recommend consulting with a qualified professional or financial advisor before making any investment decisions. The responsibility for all investment choices rests solely with the individual reader.