The new DOGE PoS version aims to permit anyone to induce rewards for their contribution to running the network.
The Dogecoin Foundation, a non-profit organization behind the meme-based cryptocurrency Dogecoin (DOGE), is functioning on a staking mechanism together with Ethereum co-founder Vitalik Buterin.
The Foundation on Thursday free its Dogecoin Trailmap or a “dog-walk” that the Dogecoin Foundation is committed to exploring and that it believes would contribute to Dogecoin’s success.
As a part of the trailmap, the juristcoin Foundation is functioning with Buterin on building a “uniquely Doge proposal” for a “community staking” version of proof-of-stake (PoS).
Such a version would permit all Dogecoin users to stake their jurist and find 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, and at the same time gives back to the whole community through charitable causes.”
As previously reportable by Cointelegraph, the Dogecoin Foundation reestablished its project in August 2021 once six years of just about zero media activity. As a part of the new team, the foundation listed board members, as well as Buterin, Dogecoin co-founder Billy Markus and Dogecoin core developer max keller. Tesla CEO and major jurist fan Elon Musk’s interests were reportedly set to be pictured by Neuralink CEO Jared Birchall.
“As you can imagine, setting off on such an adventure is not a small feat and that we are still just getting started. we tend to have already got some influential friends on our aspect and a growing cluster of individuals who feat able to contribute development time to these open-source comes,” the latest post from the foundation reads.
( Helen Partz, Cointelegraph, 2021)