Dogecoin Basis says it’s engaged on a staking idea with Vitalik Buterin of Ethereum

According to the Dogecoin Foundation, the organization is working with Vitalik Buterin on developing Proof-of-Stake (PoS) capabilities for the Dogecoin network. The “Doge Unique Proposal” aims to support a “community staking” version of the protocol.

Dogecoin Foundation discusses the “trail map” of the project

On December 23, the Dogecoin Foundation’s official Twitter account tweeted about the digital currency network’s “trailmap,” a series of initiatives that essentially detailed the proposed direction of the Dogecoin blockchain and ecosystem. The Dogecoin Foundation says that a traditional crypto “roadmap” is a rigid summary of the direction of a cryptocurrency network and is usually “led” by a single company or “lead.”

The foundation behind the Dogecoin blockchain protocol says that Dogecoin has always been “community driven”, with “many individual and organizational contributors”. “Dogecoin is a community-run, consensus-based open source project and its leadership is formed by the many individuals and organizations involved in the various Dogecoin blockchain projects [and] Ecosystem ”, it says in the blog post of the Dogecoin Foundation. The Dogecoin trailmap adds:

This trail map represents a dog walk that the Dogecoin Foundation wants to research and that we believe will add to the success of Dogecoin.

The trailmap explains a number of projects and proposals the foundation is working on and shared the organization’s recently released Dogecoin manifesto, which was released in August. In essence, the basics of the trailmap emphasize that the utility of the crypto asset equals acceptance.

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 that aims to fill this gap by providing a node / API solution that can be set up in seconds and let a developer do it allows adding Dogecoin transactions to your platform as easily as any sophisticated payment provider. ”The Dogecoin Foundation believes the Gigawallet project will” quickly accelerate “the adoption of Dogecoin (DOGE).

In addition to the Gigawallet project, the foundation also claims to work with Ethereum co-founder Vitalik Buterin. “The basis [is] Collaborated with Vitalik to develop a unique Doge proposal for a ‘Community Staking’ version of PoS that would 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 giving back to the entire community through charity, ”says the trail map.

The foundation’s PoS proposal follows Buterin’s statements about the collaboration with the Dogecoin community in June. The co-creator of Ethereum discussed the topic on Lex Fridman’s podcast. “If Doge wanted to somehow bridge to Ethereum and then people could trade in a loop ring thousands of times per second, that would be amazing,” Buterin said at the time.

Additionally, Dogecoin co-founder Billy Markus suggested last September that an Ethereum bridge and compatible non-fungible token (NFT) markets would improve the Dogecoin network. “Two things I think you would help Dogecoin: [The] Completion of the DOGE↔ETH bridge, [and] NFT platforms (e.g. Opensea), which make it possible to use the DOGE-ETH token for purchases, ”remarked Markus on Twitter. “The purchase of NFTs is very popular with crypto. The consideration of DOGE purchases from NFTs increases the benefit considerably. “

Tags in this story

Adoption, Billy Markus, Doge, DOGE Adoption, Dogecoin, Dogecoin (DOGE), Dogecoin Adoption, Dogecoin Foundation, Ethereum Bridge, Ethereum Co-Creator, Gigawallet Project, nft, NFTs, PoS, Proof-of-Stake, Trailmap, Utility, Vitalik, Vitalik Buterin

What do you think of the trail map of the Dogecoin Foundation and the foundation that is working with Vitalik on a kind of Doge PoS system? Let us know what you think on this matter in the comments below.

Jamie Redman

Jamie Redman is the News Lead at Bitcoin.com News and a Florida-based financial tech journalist. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for bitcoin, open source code and decentralized applications. As of September 2015, Redman has written more than 5,000 articles for Bitcoin.com News on the disruptive protocols emerging today.

Photo credit: Shutterstock, Pixabay, Wiki Commons

Disclaimer of liability: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement for any product, service, or company. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author are directly or indirectly responsible for any damage or loss caused or allegedly caused by or in connection with the use of or reliance on the content, goods or services mentioned in this article.

More popular news

In case you missed it

Robinhood launches program for cryptocurrency gifts

Robinhood launches program for cryptocurrency gifts

The Robinhood trading platform is launching a cryptocurrency gift program that allows users to give away multiple cryptocurrencies, including Bitcoin, Dogecoin, Ether, Bitcoin Cash, and Litecoin. As with crypto trading, gifts are commission free and users can only get $ 1 in … read more.


Share post on

Sonic BTC is reader-supported. When you buy through links on our site, we may earn an affiliate commission.

Bitcoin Assaults The Final Ponzi Scheme Bitcoin

Bitcoin Assaults The Final Ponzi Scheme

Bitcoin Attacks The Ultimate Ponzi SchemeWho Is Running The Ultimate Ponzi Scheme, And How...

By wpadminsonic164
NBA gamers Klay Thompson and Andre Iguodala are paid with Bitcoin Bitcoin

NBA gamers Klay Thompson and Andre Iguodala are paid with Bitcoin

NBA players Klay Thompson and Andre Iguodala will take part of their next salary...

By wpadminsonic164
Why Bitcoin is the very best Christmas current Bitcoin

Why Bitcoin is the very best Christmas current

It is that time of year when Mariah Carey and Wham! Songs are playing...

By wpadminsonic164
Bitcoin equals freedom Bitcoin

Bitcoin equals freedom

An earlier version of this article was posted on Medium on September 25, 2019.Something...

By wpadminsonic164
Putin: Russia has ‘benefits’ in bitcoin mining Bitcoin

Putin: Russia has ‘benefits’ in bitcoin mining

Russian President Vladimir Putin said on Wednesday the country has distinctive features that allow...

By wpadminsonic164
Contributors’ Convictions: A Bitcoin Legacy Letter Bitcoin

Contributors’ Convictions: A Bitcoin Legacy Letter

Why spend scarce and irreplaceable time toward building and bettering Bitcoin?What convinces us that...

By wpadminsonic164
Novatar – the very best place to create your digital identification Bitcoin

Novatar – the very best place to create your digital identification

Press release PRESS RELEASE. Novatar kicks off with a limited edition of 25,000 avatars,...

By wpadminsonic164
Billionaire Jeff Gundlach expects recession this yr and advises in opposition to shopping for Bitcoin Bitcoin

Billionaire Jeff Gundlach expects recession this yr and advises in opposition to shopping for Bitcoin

Jeffrey Gundlach, CEO of Doubleline Capital, also known as the "Bond King", has warned...

By wpadminsonic164

Latest Posts

Cryptocurrency Worth Prediction: Litecoin, Stellar & Dogecoin – American Wrap December twenty seventh – FXStreet Stellar

Cryptocurrency Worth Prediction: Litecoin, Stellar & Dogecoin – American Wrap December twenty seventh – FXStreet

Litecoin (LTC) price is currently on its way back as the low volume triggers...

By wpadminsonic164
Is Stellar (XLM) well worth the danger on Monday?  – InvestorsObserver Stellar

Is Stellar (XLM) well worth the danger on Monday? – InvestorsObserver

The InvestorsObserver analysis gives Stellar an average risk assessment. The proprietary scoring system calculates...

By wpadminsonic164
#BITCOIN NEXT BIG MOVE COMING | TOP 5 #ALTCOINS WITH BIG EVENTS | BAG ALTCOINS NOW Videos

#BITCOIN NEXT BIG MOVE COMING | TOP 5 #ALTCOINS WITH BIG EVENTS | BAG ALTCOINS NOW

BITCOIN NEXT BIG MOVE COMING | TOP 5 ALTCOINS WITH BIG EVENTS | BAG...

By wpadminsonic164
StarSharks, the Binance-sponsored Shark Metaverse, is launching its first turn-based card sport, StarSharks.Warriors – The Every day Hodl Binance

StarSharks, the Binance-sponsored Shark Metaverse, is launching its first turn-based card sport, StarSharks.Warriors – The Every day Hodl

Jan 5, 2022 - Singapore, Singapore Star sharks - an NFT GameFi ecosystem based...

By wpadminsonic164
That altcoin has shot up 1,300%: is it nonetheless a purchase?  – coloured idiot Stellar

That altcoin has shot up 1,300%: is it nonetheless a purchase? – coloured idiot

Image source: Getty Images Investors were looking for low-cost blockchains for NFT transactions and...

By wpadminsonic164
Binance Tightening Buyer Verification Course of Amid Striving for Regulatory Compliance – The Every day Hodl Binance

Binance Tightening Buyer Verification Course of Amid Striving for Regulatory Compliance – The Every day Hodl

The global cryptocurrency exchange Binance is rolling out immediate verification requirements for all of...

By wpadminsonic164
WARNING! Bitcoin Will Have BAD NEWS! Tomorrow It BEGINS!! Videos

WARNING! Bitcoin Will Have BAD NEWS! Tomorrow It BEGINS!!

WARNING! Bitcoin could have some really BAD NEWS by tomorrow!! Why?? Well six of...

By wpadminsonic164
Bitcoin Assaults The Final Ponzi Scheme Bitcoin

Bitcoin Assaults The Final Ponzi Scheme

Bitcoin Attacks The Ultimate Ponzi SchemeWho Is Running The Ultimate Ponzi Scheme, And How...

By wpadminsonic164