Dogecoin (DOGE) is working towards making a comeback, with the Dogecoin Foundation, a community-driven project, aiming to re-establish itself. The community is mobilizing a crypto and blockchain advisory patrol to bring the coin back to its glory days. Vitalik Buterin, the founder of Ethereum, is one of the advisors, while Elon Musk, the Tesla co-founder, has appointed Jared Birchall as a legal and financial advisor.
The community is also bolstered by veteran Jens Wieschers and two DOGE core blockchain developers, Michi Lumin and Ross Nicoll. The DOGE project was launched in 2014 and initially gained momentum, but lost its footing over time due to the founder’s departure. However, the community remains strong and dedicated, with Elon Musk and Mark Cuban being among the supporters.
The foundation is also exploring a Proof-of-Stake (PoS) algorithm, which received some negative feedback, but the team is committed to transitioning to this new algorithm. They aim to secure a three-year budget to hire a small staff and elevate the project’s capabilities. This move is seen as a significant step towards the coin’s revival.
Key points:
- Dogecoin is working towards a comeback.
- The Dogecoin Foundation is mobil