The Dogecoin Foundation, a non-profit organization behind the meme-based cryptocurrency Dogecoin (DOGE), is collaborating with Ethereum co-founder Vitalik Buterin on a staking mechanism.
On Thursday, the Dogecoin Foundation launched its Dogecoin Trailmap, a “dog-walk” that it promises to explore and which it believes would help contribute to Dogecoin’s success.
The Dogecoin Foundation is collaborating with Buterin on developing a “distinctly Doge” proposal for a “village staking” version of proof-of-stake (PoS).
The Dogecoin Foundation’s explanation implies that a modified version of Dogecoin would enable all Dogecoin users to stake their DOGE, resulting in extra 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 reestablished its initiative in August 2021, after six years of almost no media attention, according to Cointelegraph. The foundation published a list of advisory board members, including Buterin, Dogecoin co-founder Billy Markus, and Dogecoin core developer Max Keller.
“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 latest post from the foundation reads.
Dogecoin was created in 2014 by software engineers Billy Markus and Jackson Palmer, who conceived DOGE’s payment system as a joke. The Dogecoin Foundation eventually shut down after its creators departed the project.
Writes /TheCryptoBase/
Reports /TrainViral/
