Dogecoin Foundation works with Ethereum co-founder on DOGE staking


The Dogecoin Foundation, a non-profit group behind the meme-based cryptocurrency Dogecoin (DOGE), is engaged on a staking mechanism in collaboration with Ethereum co-founder Vitalik Buterin.

The Foundation on Thursday launched its Dogecoin Trailmap or a “dog-walk” that the Dogecoin Foundation is dedicated to exploring and which it believes would contribute to Dogecoin’s success.

As a part of the trailmap, the Dogecoin Foundation is working with Buterin on constructing a “uniquely Doge proposal” for a “community staking” model of proof-of-stake (PoS).

Such a model would enable all Dogecoin customers to stake their DOGE and get additional tokens for supporting the community, the Dogecoin Foundation stated:

“[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.”

As beforehand reported by Cointelegraph, the Dogecoin Foundation reestablished its venture in August 2021 after six years of just about zero media exercise. As a part of the brand new workforce, the inspiration listed advisory board members, together with Buterin, Dogecoin co-founder Billy Markus and Dogecoin core developer Max Keller. Tesla CEO and main DOGE fan Elon Musk’s pursuits had been 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 most recent publish from the inspiration reads.

Related: Dogecoin and Ether rank in prime 10 information searches on Google in 2021

Dogecoin was based in 2014 by software program engineers Billy Markus and Jackson Palmer, who created DOGE’s fee system with an concept of a “joke.” The Dogecoin Foundation ceased to be lively shortly after its founders left the venture.

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