Dogecoin (CRYPTO: DOGE) has always been one of the world's favorite meme coins. Started as a joke back in 2013, it has become one of the most popular cryptocurrencies in the world, with a market capitalization approaching $10 billion. Prominent Dogecoin supporters include Mark Cuban and Elon Musk, arguably two of the most influential billionaires in the world right now. But until recently, Dogecoin was always just a meme coin. It had almost zero utility in the real world. 

That all changed this week with the launch of Dogechain, a new blockchain platform that enables Dogecoin holders to use their DOGE crypto tokens for non-fungible tokens (NFTs), games, decentralized applications, and decentralized finance (DeFi) protocols. Dogechain is calling itself a Layer 2 for Dogecoin, and it seems to solve many of the issues facing Dogecoin as it prepares for its next stage of development. Most importantly, it gives Dogecoin real-world utility.

Does all this sound too good to be true? Well, unfortunately, that might be the case. Dogechain is an unauthorized blockchain project, meaning it does not have the support of the Dogecoin Foundation, the original founders and creators of Dogecoin, or many prominent developers of Dogecoin. In fact, some Dogecoin developers specifically told Dogecoin holders via Twitter to be skeptical of the project. In short, it appears that Dogechain has gone completely off the chain.

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Source Fool.com