Home Latest News The Dogecoin Foundation reveals big plans for $DOGE in 2022 – CryptoSlate

The Dogecoin Foundation reveals big plans for $DOGE in 2022 – CryptoSlate


The global crypto market cap is $ with a 24-hour volume of $. The price of Bitcoin is $31,403.45 and BTC market dominance is %. The price of Ethereum is $1,855.61 and ETH market dominance is %. The best performing cryptoasset sector is Adult, which gained 8%.
Welcome Bonus: Sign Up & Get Up to $150 in BTC
Dogecoin is set to focus on utility with the development of new projects as detailed in its “trailmap.”
Cover art/illustration via CryptoSlate
The Dogecoin Foundation has released a “trailmap” detailing its plans going forward. At the heart of the release is a declaration that the project is community-driven and run for the betterment of all stakeholders.
“Dogecoin is a community-driven, consensus based open-source project and its direction is formed by the many individual and organisational contributors to the various projects of the Dogecoin blockchain & ecosystem.”
Key to this new drive forward is a commitment to the first pillar of the Dogecoin Manifesto, to make $DOGE a useful cryptocurrency.
“Being useful, we value utility over technical brilliance.”
The Foundation gives examples of buying coffee or paying rent, both of which boil down to pushing adoption through utility. And reading between the lines, a focus on payments, or as they call it, “a serious universal currency for people.”
As much as projects often play down the significance of price, it remains a primary metric to evaluate a project’s success.
While $DOGE had an explosive start to 2021, posting near 15,000% YTD gains at its May 8 peak, bears have had the upper hand since then.
The $0.1543 level has acted as strong support during this downturn. But the start of December has $DOGE hoovering dangerously close to this level once again, suggesting a distinct lack of interest in the project.
The whole situation is all the more painful for $DOGE hodlers due to Shiba Inu’s rise. At one point, $SHIB even managed to leapfrog $DOGE in market cap rankings, adding insult to injury.
It’s argued that this is because meme coins are out, and the hype surrounding them has faded. But, in a bid to win back investors, the Dogecoin Foundation is pushing for utility via a series of development projects.
First off, to boost adoption is the GigaWallet project. The Dogecoin Foundation says its aging desktop wallet doesn’t cut it as far as retail integration is concerned. To that end, it proposes a new API solution in the GigaWallet to solve this issue.
“The GigaWallet project is an open-source initiative aimed at filling that gap by providing a node / API solution that can be set up in seconds and allow a developer to add Dogecoin transactions to their platform, as easily as they might with any polished payment provider.”
The Foundation adds that through a “Keyring App and SDK,” GigaWallet will enable users to retain custody of their $DOGE so mobile apps can transact without holding user keys.
In addition, under the guidance of Ethereum co-founder Vitalik Buterin, there are plans for “community staking.”
This idea was first broached in early September when Buterin suggested porting Ethereum code to switch Dogecoin from a proof-of-work (PoW) consensus to a proof-of-stake (PoS) model.
The “community staking” proposal does not mention such a fundamental change. But it’s assumed this idea will operate in much the same way as Ethereum does now, where ETH 1.0 runs as a PoW chain, and ETH 2.0, as a PoS chain in development, pays the staking rewards. In other words, dual compatible versions running in tandem.
Samuel is a strong believer in individual autonomy and personal freedom. He is a relative newcomer to the world of cryptocurrency, having first bought Bitcoin in early 2017, but keen to make up for the lost time.
Become a member of CryptoSlate Edge and access our exclusive Discord community, more exclusive content and analysis.
Disclaimer: Our writers’ opinions are solely their own and do not reflect the opinion of CryptoSlate. None of the information you read on CryptoSlate should be taken as investment advice, nor does CryptoSlate endorse any project that may be mentioned or linked to in this article. Buying and trading cryptocurrencies should be considered a high-risk activity. Please do your own due diligence before taking any action related to content within this article. Finally, CryptoSlate takes no responsibility should you lose money trading cryptocurrencies.
Dogecoin is an open source peer-to-peer digital currency, favored by Shiba Inus worldwide.. Learn more
Got a story tip? Email [email protected]
Disclaimer: By using this website, you agree to our Terms and Conditions and Privacy Policy. CryptoSlate has no affiliation or relationship with any coin, business, project or event unless explicitly stated otherwise. CryptoSlate is only an informational website that provides news about coins, blockchain companies, blockchain products and blockchain events. None of the information you read on CryptoSlate should be taken as investment advice. Buying and trading cryptocurrencies should be considered a high-risk activity. Please do your own diligence before making any investment decisions. CryptoSlate is not accountable, directly or indirectly, for any damage or loss incurred, alleged or otherwise, in connection to the use or reliance of any content you read on the site.
© 2022 CryptoSlate. All rights reserved. Terms | Privacy

Please add [email protected] to your email whitelist.
Stay connected via


Previous articleLooking to the future at Microsoft Envision – The Official Microsoft Blog – Microsoft
Next articleSolana Price Rise: Should You Buy the Blockchain's Crypto Token, SOL? – Bloomberg
He loves to share his thoughts via Internet. Associate writer at Inferse.com, his prime focus is to review latest cameras and smartphones. He is the official photographer at Inferse.