Dogecoin Foundation And Buterin To Build Community Staking

The Dogecoin foundation and Buterin will build a strong community staking alongside other projects to create it as we are reading more in our latest Dogecoin news.

The Dogecoin Foundation and Buterin as Ethereum’s founder joined forces to expand the growth of popular meme-inspired crypto DOGE and the goal is to design a “Community Staking” system based on the Proof of Stake consensus mechanism. This came after the foundation announced the Bitcoin ESG conference held earlier this year and it is moving DOGE from Proof of Work to Proof of Stake. According to the Dogecoin roadmap, community staking is a version of PoS which allows the community members to earn more rewards for their participation and contributions to the ecosystem. The users will be able to give back to the entire community via charitable causes.

The foundation is working with other projects like GigaWallet as a PoS wallet project, javascript library for DOGE, and Libdogecoin. According to the latest updates, the community staking is in the testing phase with support from the integrators that are showing some more interest. Over the next few months, the gigaWallet project and Libdogecoin will start to take shape and we have some early integrations that are interested in putting them to use in the projects.

The projects are about creating a solid foundation while the projects are aiming to target improving transactions throughput and scale. Dogecoin was built as PoW crypto like Bitcoin but in recent times, there was a lot of energy efficiency arguments about PoW projects. Elon Musk’s Tesla stopped accepting BTC payments for the products earlier this year due to environmental concerns. Dogecoin is not the only project that is planning to move to PoS and Etheruem’s move to PoS was in preparation for a long time now and will play a huge role in the ETH 2.0 upgrade in 2022.

Dogecoin went from being a joke meme coin to one of the biggest cryptocurrencies by market cap. The roadmap that was released by the DOGE foundation on the official website noted that they have a plan for the future as well as where the proejct could be headed from here. The recently released Dogecoin roadmap will propel the meme coin into the territory of “more serious coins” and it outlined some major projects that the digital asset will get involved in which showed a peak of what will be a very busy year for the core developers.