LOGO_CRYPTO_SIGHT

Dogecoin Foundation Collaborating With Ether Co-founder to Roll Out DOGE Staking

By Shannon Wilson | December 25, 2021

The Dogecoin Foundation, a non-profit organization that created the meme-based crypto coin Dogecoin (DOGE), is reportedly investing resources in rolling out staking features for the coin.

Specifically, on December 23rd, the Foundation reportedly disclosed details related to its Dogecoin Trailmap, also known as a “dog-walk”, where the Dogecoin Foundation expressed its commitment in deep-diving into Dogecoin, which it believes would make contributions to Dogecoin’s success.

As included in the scope of the trailmap, the Dogecoin Foundation is reportedly collaborating with Ethereum co-founder Buterin on developing “uniquely Doge proposal” for a “community staking” version of proof-of-stake (PoS).

That type of version would reportedly make it possible for every Dogecoin user to stake their DOGE and earn additional tokens for supporting the network. 

“[The PoS version] will allow everyone, not just the big players to participate in a way that rewards them for their contribution to running the network, and at the same time gives back to the whole community through charitable causes.” the Dogecoin Foundation additionally remarked. 

The Dogecoin Foundation reportedly re-established its initiative in August this year, following over half a decade of virtually no media activity. 

As part of the new team, the foundation listed advisory board members, including Buterin, Dogecoin co-founder Billy Markus and Dogecoin core developer Max Keller. 

The interest from Head of Tesla Elon Musk towards DOGE was reportedly set to be represented by Neuralink CEO Jared Birchall.

“As you can imagine, setting off on such an adventure is not a small feat and we are still just getting started. We already have some influential friends on our side and a growing group of people who are getting ready to contribute development time to these open-source projects” The Foundation further explained.

Tags: , , ,

Related Articles

Comments