Untitled
  • Overview
    • Laika: Supercharging Dogecoin with Layer 2 Technology
    • Dogecoin's Limitations and How Laika Addresses Them
  • Architecture
    • Hybrid Layer 2 Network
    • Laika Validators: Guardians of a Secure and Efficient Network
    • Laika's Sequencers: Orchestrating Efficiency on a Hybrid Network
    • Laika's Ecosystem: Beyond Validators and Sequencers
    • Laika's Smart Contracts: Unleashing Innovation with Smart Contracts and EVM Compatibility
    • Laika's Bridge: Connecting Chains and Enabling Seamless Transactions
  • Technical Specifications
    • Inter-Layer Communication
    • Addressing Data Integrity Challenges on Dogecoin
    • Consensus and Network Security
    • Validator selection and staking
    • Transaction Fees and Validator Rewards
    • Laika Bridge: Inter-Layer Asset Transfer and Communication Protocol
    • Laika Account Abstraction: Seamless L1 Wallet Integration for L2 Interaction
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  1. Overview

Dogecoin's Limitations and How Laika Addresses Them

Dogecoin, while being a well-established cryptocurrency, inherits some limitations common to many Bitcoin-derived blockchains:

  • High Computational Power for Proof of Work (PoW): Mining Dogecoin requires significant computing resources, leading to concerns about centralization and environmental impact.

  • Reorganizations (Forks): Occasional chain splits can disrupt transactions. If a miner creates two valid blocks at nearly the same time, the Dogecoin network may temporarily fork into two separate chains. This can lead to temporary confusion about which chain is the "real" one and can cause transactions to be temporarily reversed or lost.

  • Slow Transaction Confirmation Times: Transactions on Dogecoin can take several minutes to be finalized, making it inconvenient for everyday use like paying for coffee or groceries.

  • Limited Transaction Volume: The Dogecoin blockchain can only handle a limited number of transactions per second, leading to congestion and high fees during peak usage times.

  • No Smart Contract Support: Dogecoin, by design, doesn't support smart contracts. This hinders the development of decentralized applications (dApps) that could expand Dogecoin's use cases beyond a simple store of value.

Laika: Addressing Dogecoin's Limitations

Laika, as an L2 network built on top of Dogecoin, offers solutions to these challenges:

  • Faster Transactions and Scalability: Transactions are processed on the Laika network, enabling significantly faster confirmation times (as low as 3 seconds) and handling a much higher transaction volume compared to Dogecoin. This makes Dogecoin more suitable for everyday use.

  • Security through Dogecoin Blockchain: Laika leverages Dogecoin's robust security by periodically submitting cryptographic proofs of transactions back to the Dogecoin blockchain. These proofs cryptographically verify the validity of the L2 transactions on the L1 chain, ensuring the security of the entire system.

  • Smart Contract Functionality: Laika's EVM compatibility allows developers to create sophisticated smart contracts, unlocking a vast array of new use cases for Dogecoin. This opens doors for innovative applications and functionalities that weren't possible before on Dogecoin alone.

By addressing these limitations, Laika empowers Dogecoin with the potential to become a faster, more scalable, and feature-rich blockchain, attracting a wider range of users and developers.

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Last updated 10 months ago