The Dogecoin Foundation introduces a new Core Development Fund
The Dogecoin Foundation introduces a new Core Development Fund
The Dogecoin Foundation-A non-profit organization that supports the development of the very first Memecoin-announced a new development fund of 5,000,000 DOGE. The capital is distributed to developers who contribute to the further development of the token ecosystem.
also announced that Marshall Hayner (one of the fund's deposit banks) joined the Board of Directors of the Dogecoin Foundation.
Impulses for developers
The Organization praised Data Preserver spaces = "True"> currently worth around $ 360,000) to a "segregated multi-signature wallet" Use to reward core developers for the promotion and expansion of the Dogecoin ecosystem:
"The doge kept in this wallet will withdraw developers of Dogecoin Core rewards for working on all contributions, no matter how big or small."
Members of the Dogecoin Foundation will operate the wallet, while the following five administrators will take care of their security: Chromatic (Dogecoin Core developer), Marshall Hayner, Patrick Lodder, Michi Lumin and Ross Nicoll.
The fund distributes 500,000 dog to the developers after each small or greater further development of Dogecoin Core, but the amount of the reward depends on the actions of each involved. It will be completely transparent and announce any distribution via social media platforms.
In addition to its role as a custodian bank, the Dogecoin Foundation Marshal Hayner has started on its board.
"Marshall brings leadership experience and technical management experience into the Dogecoin Foundation and was significantly involved in creating this core development fund," added the company.
The relaunch of the Dogecoin Foundation
The organization founded in 2014 remained inactive for years before its rebirth 2021 with a new advisory board. The prominent personalities of this unit include Vitalik Buterin von Ethereum, the founder of Dogecoin, Billy Markus (Shibetoshi Nakamoto) and Jared Birchall (a key person in Elon Musk's internal cycle).
The Dogecoin Foundation worked with a butin at the end of 2021 to create a "Community Staking" system based on Proof-of-Stake (POS), which indicates that Memecoin from the Proof-of-Work (Pow) mechanism could differ.
"The foundation also works with Vitalik (founder of the Ethereum Blockchain) on the development of a unique Doge proposal for a 'Community Staking' version of POS, which not only enables everyone to participate in a way that rewards make their contribution to the operation and At the same time, give the entire community back a bit through charitable purposes, ”the team announced at the time.
Michi Lumin recently denied these rumors. proverb doge has no plans to imitate the step of Ethereum. The idea of Vitalik Buterin remains the only crypto protocol that changes from Pow to POS. The upgrade, more popular than "The Merging", was finally completed in September last year.
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