What is Dogeparty?

Dogeparty is a tokenization protocol that has been developed to run on top of the Dogecoin blockchain. Like Counterparty (XCP) for the Bitcoin blockchain, Dogeparty allows anyone to spend the protocol’s native asset (XDP) to create their own token or cryptocurrency. It does this by storing additional information in the Dogecoin blockchain not recorded in normal DOGE transactions.

The new Dogeparty logo.

The Dogeparty protocol is basically a set of rules for how to recognize the information that pertains to these assets, enabling anyone to create their own tokens, currencies or even NFTs, stored and secured on the Dogecoin blockchain.

What is Dogewallet?

Dogewallet is a Dogecoin wallet especially made for Dogeparty assets. It is based on Freewallet, a desktop Bitcoin wallet that is used for Counterparty assets and transactions. Dogewallet can be used to hold or transact DOGE, XDP and assets created using the Dogeparty protocol. The wallet also doubles as a highly-flexible asset creation and management utility. Furthermore, Dogewallet features its own DEX, or Decentralized Exchange, which can be used to create markets and place orders for any pair of supported assets. This makes it a highly powerful utility and a must-have for any serious Dogeparty user.

Screenshot of the Dogewallet with assets.

We are currently working on a full guide on how to use the Dogewallet. The link to that will go here.

Why Dogeparty?

Compared to bigger, more popular coins like Bitcoin (BTC) or Ethereum (ETH), Dogecoin is faster and/or cheaper to send. For several years, the average Dogecoin transaction cost 1 DOGE; recently it became even cheaper, thanks to recent modifications to the network by long-time developers. This aspect, combined with its 1-minute block times, make Dogecoin a more affordable and accessible blockchain for hosting and trading NFTs. These qualities are becoming increasingly important in a blockchain, as Ethereum’s consistently elevated gas fees continue to price out artists wishing to sell their work as NFTs for less than hundreds of dollars a pop.

Just as there is a vibrant community that collects and trades Rare Pepe ‘cards’ released on Counterparty, there is a growing community of Rare Doge collectors; the series having already demonstrated some outstanding, doge-inspired creativity, with some cards already selling regularly for over $1,000. The easy-to-use, highly intuitive nature of Dogewallet lowers the barriers of NFT creation to a level that renders it accessible to anyone with a computer, the internet, and $5 worth of cryptocurrency. Beyond this, the only limit faced by the artist is their own creativity, as the wallet allows for the instant creation of un-censorable markets, with all transactions secured by the Dogecoin blockchain.

Am I late to the party?

Absolutely not. While the underlying protocol that makes Dogeparty work has been around for a while, Dogewallet is still in its relative infancy. The community of artists and collectors is rather small, especially when compared to the collector’s market for Rare Pepes. Now’s a great time to find some hidden asset gems before they are discovered by the larger crypto crowd. Those who join now are still part of the early adopter crowd and will thusly be rewarded for their engagement during this formative period of development.

Remember that while fads come and go – prices fall and rise – the blockchain is forever. Whether you make your mark as an artist, investor or otherwise, getting in during the first decade of a tech as transformative as cryptocurrency and using it to better your life now is a no-brainer. We’ve had more than ten years of Bitcoin already, which has proven to be revolutionary — improving the lives of thousands or even millions already. There’s no chance of DOGE not continuing to follow in the footsteps of BTC, while appealing to those seeking a refuge from its high cost and slow confirmation times.

To the moon!