• The Dogecoin Foundation has allocated 5 million Dogecoin (DOGE) to a new fund for Dogecoin Core developers to promote the Dogecoin ecosystem in the new year.
• The new fund will be held in a new multi-signature wallet managed by Dogecoin Core developers and needs three out of five signatures to disburse rewards to developers of Dogecoin Core.
• Dogecoin developers have recently denied rumors that the network is immediately moving over to a proof-of-stake (PoS) consensus mechanism.
The Dogecoin Foundation has announced a new fund for Dogecoin Core developers in order to promote the Dogecoin ecosystem in the new year. 5 million Dogecoin (DOGE), which is roughly $360,000 at the time of writing, has been allocated to the fund. This fund will be held in a new multi-signature wallet managed by Dogecoin Core developers, and needs three out of five signatures to disburse rewards to developers of Dogecoin Core.
The custodians of the fund include chromatic, Marshall Hayner, Michi Lumin, Patrick Lodder and Ross Nicoll. These custodians will have no rights to the funds aside from managing the release. For every release of Dogecoin Core, 500,000 DOGE will be distributed among developers who contributed to the release. In order to ensure transparency, the team has released the wallet address where the fund is held, and will also be publishing blog posts for all expenditures and will be announced through social media channels by the custodians.
Dogecoin developers have also recently denied rumors that the network is immediately moving over to a proof-of-stake (PoS) consensus mechanism. The developers clarified that they only plan to review the possibility of transitioning to a PoS consensus mechanism, and that the transition would take a lot of time and research.
The Dogecoin Foundation’s fund is a step in the right direction in order to promote the development of the Dogecoin platform and to incentivize developers to contribute to the project. The fund will be managed with the utmost transparency and security, and will be a great resource for the community in the years to come.