Smiling Shiba rolls up his sleeves – Dogecoins (DOGE), originally intended as a crypto-joke parody bitcoins (BTC), was able to build a strong community around him. To the point that even the Billionaire Elon Musk is dead from this memecoin to the iconic canine logo (a smiling Shiba dog). Now, the developers of this blockchain network are announcing plans to move beyond this good looks and build real utility around Dogecoin.
An additional $360,000 to help grow Dogecoin
The price of Dogecoin fluctuates a lot (exclusively?) in recent years depending on memes and other mentions ofElon Musk – Tesla CEO and Twitter – about him. But with the long crypto winter in which the market of this new asset class is immersed, the hype is not enough. It is 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 would raise the funding of network development to the smiling Shiba. This new Dogecoin Core development fund has been endowed with a total of 5 million DOGE. This is the equivalent of approx $360,000 at the current price of this cryptocurrency that the dog has.
“DOGE content in this wallet will be used to reward Dogecoin Core developers for their work on all their contributions, regardless of size. »
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A few million DOGE to make sense of the project?
The portfolio of this development fund will be managed by the incumbent developers of Dogecoin Core and members of the Dogecoin Foundation. 5 will own part of the key to this wallet multisignature (multisig), of which at least 3 it will be necessary to act on the funds.
According to the press release to each “major or minor update” of Dogecoin, these will be 500,000 DOGE (currently approximately $36,000) which will be released from the fund and paid to developers who contribute to these updates. What financial in theory the next 10 updates of the blockchain network.
During 2022 various leaks 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 one statements by Elon Muskor on good face of their canine mascot. A great challenge awaits them.
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