Dogecoin Foundation Announces Roadmap To Implement $DOGE Staking


The non-profit organization behind the development of meme-based cryptocurrency Dogecoin has announced a partnership with Ethereum co-founder Vitalik Buterin to create a staking mechanism for $DOGE. 

As Cointelegraph reported on December 24, according to the “Dogecoin Trailmap”, which is Dogecoin Foundation’s first ever development roadmap, they have a plan to develop a staking mechanism for $DOGE with the help of Buterin.

The Foundation says it is working to create a “uniquely Doge proposal” for community staking, a version of the Proof-of-Stake (PoS) system that Ethereum is similarly implementing. 

Under the new system, Dogecoin users will be able to stake their $DOGE to improve network function, while receiving a modest reward in return. 




The proposal reads, 

[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. 

Despite being billed as a dead project, with little to no media activity for the last six years, the Dogecoin Foundation is attempting a development revival for the memecoin. In August, the Dogecoin Foundation reestablished itself, announcing a new team comprised of advisory board members Vitalik Buterin and Dogecoin co-founder Billy Markus, among others. 

The most recent Trailmap highlighted DOGE’s “influential friends” working to grow the project and contribute development time to the open-source project. 

Disclaimer

The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading cryptoassets comes with a risk of financial loss.

Image Credit

Photo by user KNFind via Pixabay.com





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