The new DOGE PoS version promises to reward anybody for their contribution to the network’s operation.
In conjunction with Ethereum co-founder Vitalik Buterin, the Dogecoin Foundation, a non-profit organisation behind the meme-based cryptocurrency Dogecoin (DOGE), is developing a staking mechanism.
The Dogecoin Foundation revealed its Dogecoin Trailmap on Thursday, which is a “dog-walk” that the foundation is devoted to exploring and feels will contribute to Dogecoin’s prosperity.
The Dogecoin Foundation stated that such a variant would enable all Dogecoin users to risk their DOGE and receive more tokens for supporting the network:
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.
The Dogecoin Foundation, as previously reported by Cointelegraph, relaunched its initiative in August 2021 after a six-year period of almost little public coverage. The foundation named Buterin, Dogecoin co-founder Billy Markus, and Dogecoin core developer Max Keller as members of the new advisory board. Elon Musk, the CEO of Tesla and a big supporter of DOGE, was supposedly going to have his interests represented by Neuralink CEO Jared Birchall.
According to the foundation’s most recent post:
“As you can imagine, setting off on such an adventure is not a small feat and we are still just getting started. We already have some influential friends on our side and a growing group of people who are getting ready to contribute development time to these open-source projects,”
Dogecoin was founded in 2014 by software engineers Billy Markus and Jackson Palmer, who created DOGE’s payment system with an idea of a “joke.” The Dogecoin Foundation ceased to be active shortly after its founders left the project.
