The smiling Shiba rolls up his sleeves – Dogecoin (DOGE), initially intended as a crypto-joke parodying Bitcoin (BTC), was able to build a strong community around him. To the point that even the billionaire Elon Musk has died from this memecoin to the iconic canine logo (a smiling Shiba dog). Now, the developers of this blockchain network announce that they want to go further than this nice appearance, and build real utility around Dogecoin.
$360,000 more to help develop Dogecoin
The price of Dogecoin fluctuates a lot (exclusively?) in recent years depending on memes and other mentions ofElon Musk – CEO of Tesla and Twitter – about him. But with the long crypto winter in which the market for this new asset class is immersed, the hype is not enough. It’s the return of the concrete and the utilitarian.
It is in this context that the Dogecoin Foundation recently announced in a press release that it wanted to relaunch the financing of the development of the network at the smiling Shiba. This new Dogecoin Core development fund has been endowed with a total of 5 million DOGE. That is the equivalent of approximately $360,000 at the current price of this crypto that has dog.
“DOGE held in this wallet will be used to reward Dogecoin Core developers for their work on all their contributions, regardless of size. »
>> Put your cryptocurrencies to green. Choose a Ledger wallet (commercial link) <<
A few million DOGE to give meaning to the project?
The wallet of this development fund will be managed by historical Dogecoin Core developers and members of the Dogecoin Foundation. They will be 5 to own part of the key to this wallet multisignature (multisig), including at least 3 will be needed to act on the funds.
According to the press release to each “major or minor update” of Dogecoin, these will be 500,000 DOGE (approximately 36,000 dollars currently) which will be released from the fund and paid to the contributing developers of these updates. What financial in theory the next 10 updates of the blockchain network.
In the course of 2022, various rumors and small tweets suggested that Dogecoin could be used for fight against bots and spam on Twitter. But obviously, the developers of this blockchain no longer seem to want to rest the future of the network on the only statements by Elon Muskor on the good face of their canine mascot. A great challenge awaits them.
To keep your cryptos, nothing beats a Ledger wallet. The Nano S and Nano X provide security and ease of use. Indeed, they are compatible with the vast majority of cryptos and networks. They are an absolutely essential alternative to all exchanges that offer to hold your assets for you. Remember, “Not your keys, not your coins” (commercial link)!