The non-profit organization behind the development of meme-based cryptocurrency Dogecoin has announced a partnership with Ethereum co-founder Vitalik Buterin to create a staking mechanism for $DOGE.\u00a0<\/p>\n
As Cointelegraph reported on December 24, according to the \u201cDogecoin Trailmap\u201d, which is Dogecoin Foundation\u2019s first ever development roadmap, they have a plan to develop a staking mechanism for $DOGE with the help of Buterin. <\/p>\n
The Foundation says it is working to create a \u201cuniquely Doge proposal\u201d for community staking, a version of the Proof-of-Stake (PoS) system that Ethereum is similarly implementing.\u00a0<\/p>\n
Under the new system, Dogecoin users will be able to stake their $DOGE to improve network function, while receiving a modest reward in return.\u00a0<\/p>\n
The proposal reads,\u00a0<\/p>\n
[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.\u00a0<\/p>\n
Despite being billed as a dead project, with little to no media activity for the last six years, the Dogecoin Foundation is attempting a development revival for the memecoin. In August, the Dogecoin Foundation reestablished itself, announcing a new team comprised of advisory board members Vitalik Buterin and Dogecoin co-founder Billy Markus, among others.\u00a0<\/p>\n
The most recent Trailmap highlighted DOGE\u2019s \u201cinfluential friends\u201d working to grow the project and contribute development time to the open-source project.\u00a0<\/p>\n