A few days ago, a Redditor asked whether Dogecoin (DOGE) has plans of implementing the Lightning network. To this, one of Dogecoin’s developers responded that it will probably never happen. That’s because the problems that such solutions are looking to solve are non-existent in Dogecoin.
The whole point behind such a solution is to help the network scale, by taking transactions off the main chain. However, up to this point, Dogecoin (DOGE) has proven itself to have the capacity to scale without any issues. It doesn’t have the problems that Bitcoin and many other coins have, that is the inability to handle lots of transactions without congestion. He stated that,
“Dogecoin is a fourth/fifth generation Litecoin forked coin however along the way many issues relating to the scaling proposed problems were addressed in a manner that made a very stable, healthy main net able to handle a load many other assets could not. It seems rather silly to me as a person, and as a developer to simply adopt so many issues from already known to be broken technology that seems to run counter to the very base ideals of decentralization. I understand buzzwords, hype and the mess that people like to tote around; but that does not make the actual tech good. In the case of LN it has had a while now to produce anything remarkable, yet still is not really stable enough to support a small transaction load, let alone the load of an asset like Dogecoin that does not gain anything but bugs, issues, and transaction failures from the adoption of it…”
This Dogecoin developer is not the first one to take jabs at the LN, with regards to their compatibility with the ideals of decentralization. Decentralization seems to be the biggest problem that second layer solutions like LN face. That’s because such solutions are to some extent centralized, which defeats the whole essence of decentralized cryptocurrencies in the first place.
Only cryptos that have the capability to scale on-chain meet the real needs of decentralized networks. This means that cryptos that have the capacity to scale on-chain such as Dogecoin (DOGE) and Digibyte (DGB) are many steps ahead of the rest in terms of tech development.
The best part is that the market seems to be appreciating the power of these technically superior coins. For instance, over 95% of Dogecoin (DOGE) transactions come from merchant transactions. This is a fundamentally strong aspect to Dogecoin (DOGE) considering that most cryptos have no real usage, other than for speculative trading on exchanges. This goes to show that the market is accepting Dogecoin (DOGE) as a real use crypto that could play a role in driving forward crypto adoption, and take it to the next level of growth.
This makes Dogecoin (DOGE) a high potential coin, one that stands in a good position for growth going into the future. Dogecoin (DOGE) may be pegged to bitcoin (BTC), but it is one of the safer bets in the market. That’s because as opposed to most altcoin, Dogecoin has utility. This may explain why in spite of having billions of coins in circulation and being inflationary, Dogecoin (DOGE) has been relatively stable compared to most altcoins that far much lower supply, but don’t have any real use in the market. As Dogecoin adoption continues to grow, so will its price. It’s a crypto worth keeping an eye on in the long-run.