Baby Doge, the self-proclaimed “son” of Dogecoin, is setting its sights on new territory – the Solana blockchain. This move, driven by a community vote, promises faster transaction speeds and lower fees for Baby Doge enthusiasts.
Community overwhelmingly approves Solana expansion
On June 8th, a proposal on Snapshot requesting Baby Doge’s deployment on Solana received a resounding 100% approval from the community. This green light sets the stage for the next phase: research, development, testing, and finally, deployment of a Solana-compatible Baby Doge smart contract. Additionally, bridges connecting Ethereum, BNB Chain, and Solana are planned to ensure seamless token movement across these networks.
Why Solana? Speed, Cost, and Exchange Reach
The decision to expand to Solana hinges on two key factors: transaction speed and accessibility. Compared to Ethereum, Solana boasts a significantly faster throughput, exceeding 65,000 transactions per second (TPS). This translates to quicker and more efficient transactions for Baby Doge users. Additionally, not all major centralized exchanges support BNB Chain, making Solana a more accessible option for wider adoption.
The switch to Solana also promises a significant reduction in transaction fees. Baby Doge estimates a drop to a mere $0.00025 per transaction, a welcome change for users accustomed to higher gas fees on Ethereum. These combined advantages – speed, cost, and reach – likely played a major role in the community’s overwhelming approval.
Also Read: Baby Doge Goes Multi-Chain: Community Backs Decentralization Push with Near-Unanimous Vote
Price Takes a Dip Despite Upbeat News
Despite the positive development, Baby Doge’s price experienced an 8% dip in the past 24 hours, currently hovering around $0.000000001814. This price movement seems to mirror the broader cryptocurrency market’s current downturn. However, with the potential benefits of Solana integration on the horizon, a price recovery for Baby Doge could be in the cards once the market sentiment improves.
The Future of Baby Doge on Solana
The road ahead involves careful development and testing to ensure a smooth transition to the Solana network. While the short-term price dip might cause concern, the long-term potential of faster, cheaper transactions on Solana could be a significant boost for Baby Doge’s user base and overall appeal.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
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