The Dogecoin Foundation, a non-profit organization focused on the development of the Dogecoin Ecosystem (DOGE), is working with Ethereum founder Vitalik Buterin on a meme-cryptocurrency staking mechanism. This is stated in the project roadmap.
The first part of the #Dogecoin Foundation’s #trailmap is up. More to come! https://t.co/snYwhxiIge
– Dogecoin Foundation (@DogecoinFdn) December 23, 2021
In August 2021, the Dogecoin team announced the reactivation of the Dogecoin Foundation. The organization’s advisors included Buterin, Elon Musk’s longtime associate and head of his family office, Jared Birchell, Dogecoin co-founder Billy Markus, and developer Max Keller.
In September, the Ethereum founder expressed his hope that the project will move to the Proof-of-Stake (PoS) consensus mechanism, using the codebase of the second largest cryptocurrency in terms of capitalization.
In conversation with CoinDesk a knowledgeable source noted that the Dogecoin team is “going to explore the benefits of PoS, possibly with some kind of parallel chain.” He also stressed that “there is no definite timeframe and there are internal tensions.”
Lead developer Ross Nicholl told the publication that he “would like to see how PoS is being studied.” To do this, he said, he would have to “convince a lot of people.”
Nicholl may have managed to do it. The Dogecoin Foundation roadmap says:
“The organization is also working with Vitalik to create a model that is unique for DOGE community staking on PoS, which allows everyone, not just large players, to participate in the project, receiving a reward for contributing to the network. “
As part of the presented roadmap, the Dogecoin Foundation also announced a number of projects aimed at developing the ecosystem:
- Libdogecoin is a cryptocurrency meme protocol implemented as a standard C library;
- Dogecoin Standard – specifications representing the “reference implementation” of the wallet. The document will also become the white paper of the project;
- GigaWallet is an open source solution that allows you to add DOGE transactions to any online platform. It is a collection of APIs.
The organization noted that work on most of the projects will begin in 2022. The team will then update the roadmap with additional details.
As a reminder, in November, the developers lowered the recommended transaction fees on the Dogecoin network.