{"id":209168,"date":"2021-12-23T17:00:59","date_gmt":"2021-12-23T17:00:59","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=209168"},"modified":"2021-12-23T20:33:48","modified_gmt":"2021-12-23T20:33:48","slug":"the-dogecoin-foundation-reveals-big-plans-for-doge-in-2022","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/the-dogecoin-foundation-reveals-big-plans-for-doge-in-2022\/","title":{"rendered":"The Dogecoin Foundation reveals big plans for $DOGE in 2022"},"content":{"rendered":"

The Dogecoin Foundation has released a “trailmap<\/a>” 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.<\/p>\n

“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.”<\/p><\/blockquote>\n

Key to this new drive forward is a commitment to the first pillar of the Dogecoin Manifesto<\/a>, to make $DOGE a useful cryptocurrency.<\/p>\n

“Being useful, we value utility over technical brilliance.”<\/p><\/blockquote>\n

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.”<\/p>\n

Meme coins are falling out of favor<\/h2>\n

As much as projects often play down the significance of price, it remains a primary metric to evaluate a project's success.<\/p>\n

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.<\/p>\n

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.<\/p>\n

\"Dogecoin
Source: DOGEUSDT on TradingView.com<\/a><\/figcaption><\/figure>\n

The whole situation is all the more painful for $DOGE hodlers due to Shiba Inu's rise<\/a>. At one point, $SHIB even managed to leapfrog $DOGE in market cap rankings, adding insult to injury.<\/p>\n

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.<\/p>\n

The Dogecoin Foundation fights back with utility<\/h2>\n

First off, to boost adoption is the GigaWallet<\/a> 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.<\/p>\n

“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.”<\/p><\/blockquote>\n

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.<\/p>\n

In addition, under the guidance of Ethereum co-founder Vitalik Buterin, there are plans for “community staking.”<\/p>\n

This idea was first broached in early September when Buterin<\/a> suggested porting Ethereum code to switch Dogecoin from a proof-of-work (PoW) consensus to a proof-of-stake (PoS) model.<\/p>\n

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.<\/p>\n","protected":false},"excerpt":{"rendered":"

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 […]<\/p>\n","protected":false},"author":460,"featured_media":209217,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[77032],"tags":[],"post_folder":[],"acf":[],"yoast_head":"\nThe Dogecoin Foundation reveals big plans for $DOGE in 2022<\/title>\n<meta name=\"description\" content=\"Dogecoin is set to focus on utility with the development of new projects as detailed in its "trailmap."\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptoslate.com\/the-dogecoin-foundation-reveals-big-plans-for-doge-in-2022\/\" 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