Dogecoin Foundation and Vitalik Buterin Plan to Develop a Staking Mechanism for DOGE
The Dogecoin Foundation, a non-profit organization focused on the development of the Dogecoin Ecosystem (DOGE), is cooperating with the Ethereum co-founder Vitalik Buterin on a staking mechanism for the meme crypto, according to the roadmap of the project.
The Dogecoin team announced in August 2021 the reactivation of the Dogecoin Foundation. The organization’s advisors included Buterin, Elon Musk’s longtime associate and head of his family office, Jared Birchall, the Dogecoin co-founder Billy Markus and developer Max Keller.
Buterin expressed in September his hope the project will move to the proof-of-stake (PoS) consensus mechanism, using the codebase of the second largest crypto in terms of capitalization.
According to CoinDesk, the Dogecoin team is “going to explore the benefits of PoS, possibly with some kind of parallel chain.” “There is no definite timeframe and there are internal tensions.”
The foundation has reported that the work on most of the projects will start only in 2022. The team will then update the roadmap with extra details.
