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Dogecoin Foundation says it is working with Vitalik Buterin from Ethereum on a staking concept – – Crypto News

According to the Dogecoin Foundation, the organization is working with Vitalik Buterin on developing Proof-of-Stake (PoS) capabilities for the Dogecoin network. The “Doge Unique Proposal” aims to support a “community staking” version of the protocol.

Dogecoin Foundation discusses the “trail map” of the project

The official Twitter account of the Dogecoin Foundation is on December 23rd tweeted via the digital currency network “Route map“, A series of initiatives that essentially detail the proposed direction of the Dogecoin blockchain and ecosystem. The Dogecoin Foundation says that a traditional crypto “roadmap” is a rigid summary of the direction of a cryptocurrency network and is usually “guided by a single company or” lead “.

The foundation behind the Dogecoin blockchain protocol says that Dogecoin has always been “community driven”, with “many individual and organizational contributors”. “Dogecoin is a community-run, consensus-based open source project and its leadership is formed by the many individuals and organizations involved in the various Dogecoin blockchain projects [and] Ecosystem ”, it says in the blog post of the Dogecoin Foundation. The Dogecoin trailmap adds:

This trail map represents a dog walk that the Dogecoin Foundation wants to research and that we believe will add to the success of Dogecoin.

The trailmap explains a number of projects and proposals the foundation is working on and shared those recently released Dogecoin Manifesto the organization released in August. In essence, the basics of the trailmap emphasize that the utility of the crypto asset equals acceptance.

Gigawallet project and collaboration with Vitalik on a community staking version of PoS

One of the projects mentioned is that Gigawallet project, which is “an open source initiative that aims to fill this void by providing a node / API solution that can be set up in seconds and enable a developer to make Dogecoin transactions as easily as with add every sophisticated payment provider to their platform ”. . ”The Dogecoin Foundation believes the Gigawallet project will” rapidly accelerate “the adoption of Dogecoin (DOGE).

In addition to the Gigawallet project, the foundation also claims to work with Ethereum co-founder Vitalik Buterin. “The basis [is] Collaborated with Vitalik to develop a unique Doge proposal for a ‘Community Staking’ version of PoS that would 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 giving back to the entire community through charity, ”says the trail map.

The foundation’s PoS proposal follows Buterin’s statements about the collaboration with the Dogecoin community in June. The co-creator of Ethereum discussed the topic on Lex Fridman’s podcast. “If Doge wanted to somehow build a bridge to Ethereum and then people could swap Doge in a loop ring thousands of times per second, that would be amazing,” said Buterin at the time.

In addition, in September last year, co-founder of Dogecoin Billy Markus recommended that an Ethereum bridge and compatible non-fungible token (NFT) markets would improve the Dogecoin network. “Two things I think you would help Dogecoin: [The] Graduation from DOGE↔ETH Bridge, [and] NFT platforms (e.g. Opensea) that support the DOGEETH Token for purchases, ”Markus noted on Twitter. “The purchase of NFTs is very popular with crypto. The consideration of DOGE purchases from NFTs increases the benefit considerably. “

What do you think of the trail map of the Dogecoin Foundation and the foundation that is working with Vitalik on a kind of Doge PoS system? Let us know what you think on this matter in the comments below.

Jamie Redman

Jamie Redman is the News Lead at News and a Florida-based financial tech journalist. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for bitcoin, open source code and decentralized applications. As of September 2015, Redman has written more than 5,000 articles for News on the disruptive protocols emerging today.

Photo credits: Shutterstock, Pixabay, Wiki Commons

Source: Crypto News Austria

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