What's Hot

    First Citizens to Buy Silicon Valley Bank

    March 27, 2023

    Nasdaq Looking to Launch Crypto Custody Services in Q2 2023

    March 27, 2023

    Africa Moving to Crypto as Alternative to US Dollar

    March 27, 2023
    Facebook Twitter Instagram
    Facebook Twitter Instagram
    The Bull's GazetteThe Bull's Gazette
    Members Area
    • News
      1. Markets
      2. Policy & Economy
      3. Business
      4. Tech
      Featured

      First Citizens to Buy Silicon Valley Bank

      News March 27, 2023
      Recent

      First Citizens to Buy Silicon Valley Bank

      March 27, 2023

      Nasdaq Looking to Launch Crypto Custody Services in Q2 2023

      March 27, 2023

      Africa Moving to Crypto as Alternative to US Dollar

      March 27, 2023
    • Features
      • Opinion
    • Research
      • Publications
      • Market Analysis
      • Contribute
    • Finance & Crypto Guides
    • Consultation
    • Membership
    • Store
    The Bull's GazetteThe Bull's Gazette
    Home»News»Dogecoin Foundation Introduces New Development Plan
    News

    Dogecoin Foundation Introduces New Development Plan

    Anietie DavidBy Anietie DavidJanuary 3, 2023Updated:January 3, 2023No Comments2 Mins Read
    Dogecoin Foundation Introduces New Development Plan
    Share
    Facebook Twitter LinkedIn Pinterest Email

    The Dogecoin Foundation – a non-profit organization supporting the development of the first memecoin – has announced a new development fund of 5,000,000 DOGE. The funds are allocated to developers who contribute to the development of the token ecosystem.

    The group has promised to transfer 5 million Dogecoins (currently worth about $360,000) into a “segregated multi-signature wallet” and use the funds to fund core developers to promote and grow the Dogecoin ecosystem reward. Dogecoin Foundation members will manage the wallet, while the following five custodians will keep it safe: chromatic (Dogecoin core developers), Marshall Hayner, Patrick Lodder, Michi Lumin, and Ross Nicoll.

    The fund distributes 500,000 DOGE to developers after each minor or major improvement of Dogecoin Core, but the size of the reward depends on the behavior of each contributor. It will be fully transparent and will announce any distribution across social media platforms.

    The Rebirth of the Dogecoin Foundation

    Founded in 2014, the organization went dormant for years before being reborn in 2021 with a new advisory board. Notable figures in the sector include Ethereum’s Vitalik Buterin, Dogecoin founder Billy Markus (Satoshi Nakamoto), and Jared Birchall (a key figure in Elon Musk’s inner circle).

    The Dogecoin Foundation partnered with Buterin in late 2021 to create a Proof-of-Stake (PoS)-based “community staking” system, suggesting that Memecoin will be powered by a Proof-of-Work (PoW) consensus mechanism.

    The team announced at the time that the foundation was also working with Vitalik (the founder of the Ethereum blockchain) to develop a unique DOGE proposal for a “community staking” version of PoS that would benefit everyone, not just the big gamers , would allow them to participate in one of the ways to reward them for their contribution to running the network while also giving back to the community in general through philanthropy.

    However, Michi Lumin recently denied these rumors, stating that DOGE has no plans to copy Ethereum’s move. Vitalik Buterin’s brainchild remains the only crypto protocol to move from PoW to PoS. The upgrade, the more popular “Fusion,” finally completed last September.

    Dogecoin Dogecoin Foundation
    Share. Facebook Twitter Pinterest LinkedIn Tumblr Telegram Email
    Previous ArticleBinance Set to Re-enter South Korea with Exchange Acquisition
    Next Article Italy Approves 26% Capital Gains Tax On Cryptocurrencies
    Anietie David

    Anietie has worked in the blockchain industry for three years, gaining experience in blockchain technology, cryptocurrencies, DeFi, and NFTs. As a seasoned content writer, he is passionate about creating effective content strategies for blockchain brands. In addition to content writing, he also has a strong interest in front-end development. When he's not working, he spends his time reading horror novels or playing CODM.

    Related Posts

    First Citizens to Buy Silicon Valley Bank

    March 27, 2023

    Nasdaq Looking to Launch Crypto Custody Services in Q2 2023

    March 27, 2023

    Africa Moving to Crypto as Alternative to US Dollar

    March 27, 2023
    Add A Comment

    Leave A Reply Cancel Reply

    Top Posts

    New Crypto Mining Bill in Russia Mandates Earnings Reports

    March 10, 2023

    India Pushes Anti-money Laundering Regulation for Crypto Transactions

    March 8, 2023

    Zambia Explore Crypto Regulatory Framework 

    February 20, 2023

    Our best content, straight to your inbox.

    Disclaimer

    Capital at risk. Content on this website does not constitute financial advice. Please do your due diligence before making any investment.

    Company
    Company

    At the forefront of news and analysis for emerging markets, business, crypto and tech - TBG is redefining financial information through resources for next-generation economics.

    Facebook Twitter Instagram LinkedIn TikTok Discord
    Links
    • About
    • Contribute
    • Advertise
    • Careers
    • Membership
    • Investor Relations
    • Frequently Asked Questions

    TBG Newsletter

    © 2023 The Bull's Gazette.
    • Terms and Privacy
    • Contact Us

    Type above and press Enter to search. Press Esc to cancel.