Release: 2024/09/07 12:24 Reading: 277
The Dogecoin Foundation has laid out significant milestones in their trailmap to enhance and strengthen the Dogecoin ecosystem.
Despite DOGE's recent price downturn, ongoing project developments inspire optimism within the community and investors. Here is an overview of DOGE Foundation's most recent accomplishments, based on their trailmap:
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Improving Accessibility for Dogecoin Development
As an initial step in their plan, the Dogecoin Foundation focused on increasing development accessibility and fostering a robust developer ecosystem.
Projects like libdogecoin, which supports multiple programming languages, have enabled developers worldwide to contribute to the DOGE network. The growing open-source (FOSS) developer community also plays a vital role in expanding the ecosystem. Accordingly, the Foundation announced 100% completion for this initial milestone.
This step is seen as a crucial foundation for Dogecoin's future, as more businesses contemplate accepting DOGE as a payment method. Thus, DOGE evolves from a memecoin towards a future where it enjoys wider acceptance in the global marketplace.
Lowering Barriers to DOGE Adoption for Businesses and the Unbanked
The second ongoing milestone aims to lower adoption barriers for businesses and populations lacking access to formal financial services, particularly the 1.7 billion unbanked individuals.
To support this endeavor, projects like the GigaWallet Payment Gateway and Ecommerce plugins have been introduced. GigaWallet, for example, is poised to provide a solution for businesses seeking to adopt DOGE as a payment method without the complexities of technological infrastructure.
Additionally, projects such as Radio Doge and Dogebox OS are tailored to bring Dogecoin closer to the general public. Radio Doge enables Dogecoin transactions in areas with limited internet access via radio technology. Dogebox OS, on the other hand, is a DOGE runtime platform designed to facilitate the seamless operation of DOGE-based applications.
Currently, this milestone has reached 90% completion, signifying substantial progress towards bringing DOGE into real-world use cases and expanding its adoption in the commercial sector.
Advancing Dogecoin's Scalability for Global Currency Status
As a digital currency, Dogecoin needs to efficiently handle potentially millions of transactions if it's to achieve global currency status.
Under this third milestone, the Dogecoin Foundation is working on Project Sakura, which aims to enhance the throughput of the Dogecoin network. The project involves upgrading the Proof of Doge protocol to increase the speed and block size of Dogecoin by tenfold.
This would enhance Dogecoin's decentralization and enable it to process more transactions per second—a feature critical for meeting the demands of a global currency.
While this project is still at 10% completion, it promises significant advancements in the efficiency and capacity of the Dogecoin network in the future.
Remaining Challenge: DOGE Price Remains Depressed
Amidst these developments, the memecoin's price serves as a concern for investors. In the past 24 hours, DOGE has dropped by over 6%, trading around $0.09222.
However, this disappointing price performance may not fully reflect the long-term potential of the technological advancements being implemented by the Dogecoin Foundation.
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