- Dogecoin Foundation is aiming to make it easier for developers to integrate products with its ecosystem.
- Dogecoin is up by almost 33% in the last six months.
Earlier this month, the core developer of Dogecoin, Michi Lumin, wrote in a tweet that Dogecoin is about to release a new version of Blockchain tool Libdogecoin.
He said that “libdogecoin 0.1.2 soon with easy to integrate mnemonic/seedphrase generation and QR code production, also and better support for Microsoft Visual C++ and Visual Studio.”
In response to a question about the transition of Dogecoin from proof-of-work (PoW) to proof-of-stake (PoS), Lumin wrote that “I have answered this question incessantly. Doge cannot be “set to transition” to anything. Please look at how blockchain consensus works. This was the case with ETH as well, which is why it existed as an estimate for years. Consensus still had to pass. It cannot be declared.“
It can be seen that the Dogecoin Foundation aims to make it easier for developers to integrate products with the DOGE ecosystem with the help of Libdogecoin. The foundation believes that this implementation will lead to greater innovation within the community.
Dogecoin price action in one month
Meanwhile, with Elon Musk’s recent moves towards crypto payments on Twitter, there is growing interest in Dogecoin. The memecoin is currently valued at $0.0922, with a 27% increase from the start of the year.
Most of the cryptocurrency experienced a decline last year. While, in the beginning of this year has seen a positive upturn in the crypto industry. By observing Dogecoin’s past market reactions, it is not out of the question for the coin to experience another rally.
In addition, for Dogecoin to reach $1, the memecoin will need more than just Elon Musk’s influence, as its integration into Twitter and an upgrade to its technology could also play a vital role. Although the transition to a proof-of-stake blockchain could push Dogecoin beyond its current standing and attract a massive influx of retail investors.
It can be seen that any potential upgrade remains a controversial topic within the Dogecoin community.
According to data sourced by Whale Alert shows that “a Dogecoin (DOGE) address, containing 2,043,137 DOGE tokens ($186,364), has recently been activated after a whopping 9.1 years of dormancy.”
The activation has drawn attention from the public, with one user noting that the owner of the address made a whopping $1.5 Million at the price peak by investing only $800. It is worth noting that the address rose shortly after a Financial Times report about Dogecoin father Elon Musk introducing a payment system for the popular social media platform that might include cryptocurrencies such as Dogecoin.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while his post-graduation. He is a keen observer of details and shares his passion for writing along with being a developer. His backend knowledge about blockchain helps him give a unique perspective to his writing