The Dogecoin Foundation has published a “trail map” with detailed plans for the future DOGE. The focus is on being community-minded and committed to increasing the value of all stakeholders.
“Dogecoin is a consensus-based, open-source community-supported project that is led by many individuals and organizations who contribute to various projects in the Dogecoin ecosystem and the blockchain.”
The main focus for this new impulse is on the commitment to the Dogecoin Manifesto of the first pillar to make DOGE a useful cryptocurrency.
“In order to be useful, we value utility one level higher than technical superiority.”
The foundation offers examples of buying coffee or paying rent, both of which aim to encourage adoption by the utility service. This means focusing on payments, or as they call it, “one serious universal currency for all”.
Although the importance of price is often not emphasized on some projects, it is still an important metric to assess the success of a project.
While DOGE boomed in 2021, hitting an all-time high (ATH) of almost 15,000% on May 8, the bears have prevailed ever since.
The $ 0.1543 level has acted as strong support during this downturn. But at the beginning of December DOGE was again hovering close to dangerous values and showed a clear disinterest in the project.
DOGE price table | Source: TradingView
With the rise of Shiba Inu (SHIB), the whole situation has worsened for DOGE. At some point SHIB even surpassed DOGE in the ranking of market capitalization.
It has been suggested that this is because the coin meme may be out of date and the hype around them is no longer valid. However, to regain investor interest, the Dogecoin Foundation is promoting utility through a number of development projects.
The first direction to promote adoption is the GigaWallet project. Therefore, the Dogecoin Foundation proposes a new API solution in GigaWallet to solve this problem.
“Project GigaWallet is an open source initiative that fills this void by providing a node / API solution that can be set up in seconds and allowing developers to add Dogecoin transactions to the platform as easily as possible with any innovative payment provider.”
The Foundation adds that GigaWallet, through the “Keyring App and SDK”, will allow users to maintain management of their DOGE so that mobile apps can transact without the need to store user keys.
In addition, “Community Staking” is planned under the direction of Vitalik Buterin.
The idea was first discussed in early September when Buterin suggested choosing an Ethereum code to move Dogecoin from the Proof of Work (PoW) to a Proof of Stake (PoS) model.
The “Community Staking” proposal does not refer to a fundamental change, but assumes that the idea will work just like the current Ethereum, where ETH 1.0 as a PoW chain and ETH 2.0 as a blockchain is under development, staking -Pays out rewards. In short, two compatible versions run side by side.
Join Bitcoin Magazine Telegram to keep track of news and comment on this article: https://t.me/coincunews
Follow the Youtube Channel | Subscribe to telegram channel | Follow the Facebook page
As Bitcoin reaches unprecedented heights and the market surges, he's highlighting five altcoins poised for…
With the crypto market reaching new peaks, many are eager to discover digital currencies poised…
XYZVerse, blending sports passion with meme energy, is set to make a significant impact, uniting…
Will Bitcoin Crash?" seems to be one of the most controversial questions, as the price…
There’s always that one coin people wish they hadn’t overlooked. For many, Cosmos ($ATOM) is…
Cosmos Developer Interchain Foundation sold 3000 ETH from its ICO today, totaling 21,600 ETH sold…
This website uses cookies.