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Dogecoin Foundation presents first ‘trailmap’

Dogecoin Foundation presents first ‘trailmap’

Last updated 29th Jun 2022

The roadmap, called ‘trailmap’ by the Foundation, is the first-ever released since DOGE was created in 2013. It explores the launch of GigaWallet, LibDogecoin, and six other new projects.

The Dogecoin Foundation is an NPO, which aims to facilitate the development of the meme coin through advocacy. According to a statement on their website:

For the first time the Dogecoin Protocol will be represented in a way that can be implemented independently of the Core Wallet. This will provide the opportunity for the community to create a robust change-process via DIPs (Dogecoin Improvement Proposals) which can be discussed broadly in the community and with key stakeholders for a specified time prior to adoption.

Moving away from a single wallet

The Foundation goes on to add that they are convinced a consensus-based community should have a strong preference for experimental implementations. Moving the definitive Dogecoin Protocol reference from the old Core Wallet implementation to a community managed specification will secure the future of Dogecoin from the risks it currently faces existing as a single wallet only.

The security of the protocol increases in direct proportion to Dogecoin Standard compliant wallet implementations, as the live network’s consensus-based safety is contingent upon node diversity.

The Dogecoin Foundation signed the Dogecoin Manifesto in August. It explained the purpose of the token and made it possible for community members to provide feedback and wishes.

A unique community staking proposal

The Dogecoin Foundation is working with Ethereum cofounder Vitalik Buterin to create a ‘uniquely Doge proposal for a community staking version of Proof of Stake (PoS)’. It will let all Dogecoin fans and holders take part in a way that rewards them for contributing to network operation.

The foundation added that it had “influential friends” on its side, who are willing and ready to contribute development time to the open-source projects described in the trailmap.

The future currency of Earth?

Back in February, Elon Musk indicated in a tweet that Dogecoin could emerge as “the future currency of Earth.” The billionaire’s involvement in DOGE has helped propel the cryptocurrency and many of its offshoots to new heights. While DOGE began as a joke, it is currently the 12th biggest cryptocurrency by market cap.

Friends and foes

Doge is not supported multilaterally by any means. Its own founder, Jackson Palmer, declared he was abandoning crypto. He described it as:

…an inherently right-wing, hyper-capitalistic technology built primarily to amplify the wealth of its proponents through a combination of tax avoidance, diminished regulatory oversight, and artificially enforced scarcity.

Daniela Kirova

Daniela Kirova

Daniela is a writer at Bankless Times, covering the latest news on the cryptocurrency market and blockchain industry. She has over 15 years of experience as a writer, having ghostwritten for several online publications in the financial sector.