Dogecoin Makes an Announcement: ‘Such Core, Much Development, Wow

Dogecoin, one of the best-known meme coins on the market, keeps developing.

In a new announcement, titled in the classical Dogecoin parlance “Such Core, Much Development, Wow,”  it unveiled  a new community Dogecoin Core development fund. It is slated to be managed by existing core developers and Dogecoin Foundation board director signatories, along with transparency blog posts forthcoming for all expenditures and developments. 

According to the post, the Dogecoin foundation looks to move 5,000,000 Dogecoin to the development fund. It also intends to allocate to Dogecoin Core, the development of which is dubbed ‘critical.” 

“This is a new, segregated multi-signature wallet, designed to transparently manage a sum of 5,000,000 DOGE. The DOGE held in this wallet will disburse rewards to developers of Dogecoin Core for work on all contributions, no matter how big or small,” the announcement reads.

Dogecoin Core developers and members of the Dogecoin Foundation are poised to be in charge of the wallet, featuring a three out of five signature threshold, with a set of defined custodians. The custodians – who, according to the company, do not have any rights to the money held in the wallet and can only request succession for their own slot but cannot nominate their successor – will include  chromatic (Dogecoin Core developer), Marshall Hayner (Dogecoin Foundation Board and a newcomer), Michi Lumin (Dogecoin Core developer, Dogecoin Foundation Board), Patrick Lodder (Dogecoin Core developer), and Ross Nicoll (Former Dogecoin Core developer).

Shedding light on how the wallet will function, Dogecoin explains that whenever  every major or minor release of Dogecoin Core takes, “500,000 DOGE shall be distributed among all contributors credited in the release notes since the previous major or minor release, exclusively.”

Recently, Dogecoin celebrated its 9th anniversary, thanking the community on Twitter for their kind words.

Previously, The Coinomist reported that Mark Cuban thinks that Dogecoin has bigger potential than Cardano.

If interested in mining Dogecoin, find out how here.