Can We Steak DOGE? Vitalik Buterin is Developing a New Mechanism

The Dogecoin Foundation, together with Ethereum founder Vitalik Buterin, are working on the development of a staking mechanism for the Dogecoin cryptocurrency.

As reported in the project roadmap, in August 2021, the Dogecoin team announced the reactivation of the Dogecoin Foundation. The organization’s advisors included Buterin, Elon Musk’s longtime associate and head of his family office, Jared Birchell, Dogecoin co-founder Billy Markus, and developer Max Keller.

Speaking with CoinDesk, a knowledgeable source noted that the Dogecoin team is going to explore the benefits of PoS, possibly with some kind of parallel chain. He also stressed that there is no definite date for the launch of the project, and there are also some internal disagreements.

The Dogecoin Foundation’s roadmap says the organization is also working with Buterin to create a PoS community staking model unique to DOGE, which allows everyone, not just the big players, to participate in the project by being rewarded for contributing to the network.

As part of the presented roadmap, the Dogecoin Foundation is also going to launch several projects:

Libdogecoin is a cryptocurrency meme protocol implemented as a standard C library;

Dogecoin Standard – specifications representing the “reference implementation” of the wallet. The document will also become the white paper of the project;

GigaWallet is an open-source solution that allows you to add DOGE transactions to any online platform. It is a collection of APIs.

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