So Exist! Much Leaders! Wow! Dogecoin Foundation Reestablished
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So Exist! Much Leaders! Wow! Dogecoin Foundation Reestablished

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10 months ago

Vitalik Buterin, Elon Musk Rep, Billy Markus help recreate the dormant Dogecoin Foundation

So Exist! Much Leaders! Wow! Dogecoin Foundation Reestablished

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The leading memecoin is getting a new leash on life. 

The long-dormant Dogecoin Foundation today announced a new leadership team, including several crypto luminaries, that it hopes will bring more actual uses to the altcoin that started life as a joke.
Along with Dogecoin co-creator Billy Markus, Ethereum’s Vitalik Buterin and Doge memer/Tesla chief Elon Musk are among the crypto luminaries participating in what the newy reinvigorated Dogecoin Foundation hopes will be a drive towards more actual utility.

Dogecoin started 2021 worth well under one penny, where it had languished since IBM software developer Billy Markus and Adobe engineer Jackson Palmer created it in late 2013 as a way to satirize the hype around cryptocurrencies. It was designed to be as ridiculous as possible, with a grammatically challenged, Comic Sans-loving Shiba Inu dog meme as its face and 100 billion tokens created at launch. 

The new Foundation board consists of five current Dogecoin developers and community veterans — Gary Lachance, Jens Wiechers, Michi Lumin, Ross Nicoll, and Timothy Stebbing — but it is the advisory board that really raised eyebrows. 

While it includes Dogecoin co-founder Markus, the real highlight is Ethereum founder Vitalik Buterin, who previously called the possibility of a Dogecoin-Ethereum bridge “amazing,” and said he “kind of want the fans to feel like Ethereum is — at least a little bit — in spirit itself a dog coin." 
Then there is the meme-powered force behind Dogecoin’s price explosion — it jumped from $0.005 on New Year’s Day to an all-time high of 73 cents on May 8, before retreating to its press-time $0.30.

That would be Tesla and Space-X founder Elon Musk — well, his representative and financial advisor Jared Birchall anyway.

Musk rebooted Dogecoin with a series of Twitter comments extolling its virtues and Lion King-themed memes at the start of 2021, culminating with his announcement that he’d bought his infant son some Dogecoin so he’d be its first “toddler hodler.”
There were also some serious tweets, including one pointing to the slow and costly transaction rate of Bitcoin and Ethereum. He said:
“There is merit imo to Doge maximizing base layer transaction rate & minimizing transaction cost with exchanges acting as the de facto secondary layer.” (Buterin disagreed.)

Many Utility! Much Wow!

With the goal of “supporting the Dogecoin Ecosystem, Community and promoting the future of the Dogecoin Blockchain,” the renewed Foundation said in a new manifesto that it is “developing a currency for the people.”

Specifically, that means accelerating the development efforts by establishing a paid team of core developers and launching a series of projects to add utility to what it calls the broader Dogecoin ecosystem.

These will “complement the current Core Wallet to enable faster integration and easier APIs for Financial, Social and Charitable projects wishing to use Dogecoin,” the group said. “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.”

To this end the Foundation also released a manifesto calling Dogecoin “the accidental crypto-

movement that makes people smile.”

It announces four project values — being useful, personable, welcoming, and reliable — and reads, “We are developing a currency for the people, and we strive to do only good everyday.”

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