Dogecoin Foundation Says It’s Working With Ethereum’s Vitalik Buterin on a Staking Concept

Dogecoin

According to the Dogecoin Foundation, the organization is working with Vitalik Buterin on constructing proof-of-stake (PoS) capabilities for the Dogecoin network. The “uniquely Doge proposal” is aimed at bolstering a “community staking” version of the protocol.

The Dogecoin Foundation discusses the “trail map” of the project

On December 23, the official Dogecoin Foundation Twitter account tweeted about the Digital Currency Network Trailmap, a set of initiatives that essentially detail the proposed direction of blockchain and the Dogecoin ecosystem. The Dogecoin Foundation says that a traditional crypto “roadmap” is a stark summary of the direction of a cryptocurrency network and is typically “run by one company or” leader. “

The foundation behind the Dogecoin blockchain protocol says Dogecoin has always been “community-driven” with “many individual and organisational contributors.” “Dogecoin is a community-driven, consensus-based open-source project and its direction is formed by the many individuals and organisational contributors to the various projects of the Dogecoin blockchain [and] ecosystem,” the Dogecoin Foundation’s blog post notes. The Dogecoin Trailmap adds:

This trail map represents a dog walk that the Dogecoin Foundation is committed to exploring and which we believe will contribute to the success of Dogecoin.

The Trailmap explains a number of projects and proposals the foundation is working on and it shared the recently released Dogecoin Manifesto the organization published in August. Essentially, the Trailmap’s fundamentals stress that the crypto asset’s utility equates to adoption.

Gigawallet project and collaboration with Vitalik on a Community Staking version of PoS

One of the projects mentioned is the Gigawallet Project, which is “an open source initiative to fill this gap by providing a node / API solution that can be set up in seconds and allow a developer to add Dogecoin transactions to its platform, like as easily as with any fancy payment provider. The Dogecoin Foundation believes that the Gigawallet project will “quickly accelerate” the adoption of dogecoin (DOGE).

In addition to the Gigawallet Project, the foundation also claims it’s working with the co-founder of Ethereum, Vitalik Buterin. “The Foundation [is] also working with Vitalik on crafting a uniquely Doge proposal for a ‘Community Staking’ version of PoS that 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 Trailmap details.

The foundation’s PoS proposal follows Buterin’s statements about working with the Dogecoin community in June. The Ethereum co-creator discussed the topic on the Lex Fridman podcast. “If Doge wants to kind of bridge with Ethereum, and people can trade doge thousands of times per second inside a looping ring, then that would be amazing,” Buterin told the era.

Furthermore, last September, co-founder of Dogecoin Billy Markus suggested that an Ethereum bridge and compatible non-fungible token (NFT) markets would enhance the Dogecoin network. “Two things I believe would help Dogecoin: [The] completion of DOGE↔ETH bridge, [and] NFT platforms (e.g. Opensea) allowing for the DOGE-ETH token to be used for purchases,” Markus remarked on Twitter. “NFTs purchasing is in high demand with crypto. Allowing for DOGE purchases of NFTs greatly increases its utility.”

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