The Dogecoin Foundation, a non-profit organization behind the meme-based cryptocurrency Dogecoin (DOGE), is working on a staking mechanism in collaboration with Ethereum co-founder Vitalik Buterin.
The foundation published its Dogecoin trail map or “dog walk” on Thursday, which the Dogecoin Foundation is committed to exploring and which, in its opinion, would contribute to the success of Dogecoin.
As part of the trail map, the Dogecoin Foundation is working with Buterin to create a “unique doge proposal” for a “community staking” version of the Proof-of-Stake (PoS).
Such a version would allow all Dogecoin users to set their DOGE and receive additional tokens for supporting the network, the Dogecoin Foundation said:
“[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 while giving back to the entire community through charitable causes. “
As Cointelegraph reported, the Dogecoin Foundation resumed its project in August 2021 after six years of no media activity. As part of the new team, the foundation listed advisory board members, including Buterin, Dogecoin co-founder Billy Markus, and Dogecoin core developer Max Keller. The interests of Tesla boss and big DOGE fan Elon Musk are reported to be represented by Neuralink CEO Jared Birchall.
“As you can imagine, starting an adventure like this is not an easy task and we are still at the beginning. We already have some influential friends by our side and a growing group of people who are preparing to invest development time in these open source projects, ”states the foundation’s latest post.
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Dogecoin was founded in 2014 by software engineers Billy Markus and Jackson Palmer, who developed DOGE’s payment system with the idea of a “joke”. The Dogecoin Foundation stopped shortly after its founders left the project.
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