Dogecoin Foundation Returns After Nearly 7 Years

Reading Time: 2 minutes
  • After a six year absence, the Dogecoin Foundation has returned to support the meme coin.
  • The foundation claimed it would soon unveil new projects to further encourage the adoption of Dogecoin.
  • The foundation aims to secure a three-year budget for recruiting a team of full-time developers.

After a six year absence, the Dogecoin Foundation has returned with an aim to support the meme coin’s community, ecosystem, and promote the future of the Dogecoin blockchain.

The Dogecoin Foundation has reappeared, after a long period of silence which dates back to 2014. In a recent announcement, the foundation said it intends to unveil new projects soon to further encourage the use and adoption of Dogecoin. The foundation said:

We are here to accelerate the development effort by supporting current Dogecoin Core and future Dogecoin Developers to work on a full-time basis through sponsorship, as well as providing a welcome landing for new contributors hoping to help with the project.

The announcement stressed that Dogecoin is powerful for that it has a strong community, and the only way for the meme coin to prosper is through wide mainstream adoption. “We believe that the success of Dogecoin is through broad global adoption and utility, and intend to focus on projects that increase Dogecoin uptake at a grassroots level,” the team said.

Among its prioritized goals, the foundation strives to protect the Dogecoin brand. The announcement said that recently a number of abusers have attempted to “co-opt the ‘Dogecoin’ brand” in several fields, in a manner that would harm the overall brand.

To prevent abuse, the foundation would hold “the Dogecoin mark and the Dogecoin Logo.” This would permit the foundation to allow the use of Dogecoin-related projects under a liberal license while protecting the brand of the meme coin.

Dogecoin Seeks to Attract Sponsors

As per the announcement, the foundation aims to secure a three-year budget for recruiting a team of full-time developers. The Foundation would establish a group of annual sponsors who would be responsible for covering the expenses.

They have reportedly received approval from a number of sponsors who are interested in contributing. “This comes at a cost. Talented new people come to the project hoping to help and there is no one to welcome them or help them find a way to contribute and so they leave frustrated,” the foundation said.

The Dogecoin team also has some fresh faces and a number of prominent new advisors to promote the growth of Dogecoin. The website lists Elon Musk’s representor Jared Birchall, Ethereum creator Vitalik Buterin, Dogecoin co-founder Billy Markus, and Dogecoin core developer Max Keller as board advisors.

In late May, Tesla CEO Elon Musk tweeted that he was “working with Doge devs to improve system transaction efficiency.” He further added that Dogecoin would become the leading cryptocurrency since it “speeds up block time 10X, increases block size 10X & drops fee 100X.”

To counter this bold claim, Vitalik Buterin wrote an article describing how Elon Musk’s plan to scale Doge is flawed. In the article, Buterin forecasted the possible outcomes of pushing the scalability of a blockchain too much.