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Dogecoin follows the trail map – What is currently in the works?

 


Elon Musk was ridiculed last year when he hinted that he wants to work to make Dogecoin the global payment standard. Maybe it was even rightly made fun of. However, if you look at the support provided by the Dogecoin Foundation, you quickly realize that he was perhaps more serious about it than he initially thought.


Dogecoin has seen little development love for years, which may be due to the fact that nobody was really interested in it anymore before Musk came along. But that's all changed with the Dogecoin Foundation as they want to make sure things get moving and the recently released trailmap gives a taste of what's currently in the works.


In contrast to a roadmap, the trailmap should emphasize how decentralized the whole project is and how it wants to conquer the market in the future. In fact, they are targeting innovation in payment transactions.


New library will be the centerpiece

So far, the Dogecoin Core Wallet has always been based on the Bitcoin Core Wallet and thus on the reference software. Updates were also regularly installed and maintained, but payments cannot be processed conveniently with it. This applies to acceptance points as well as to consumers who would rather use a modern wallet on their smartphone.


And that is exactly what needs to be worked on. The basis for this should be Libdogecoin , a library designed to make it easier for developers to design new software. Not only the "GigaWallet" should be based on it, but also faster and better "DogeNodes".


The overarching objective of these projects is to create integration options for Dogecoin. Merchants should be able to easily integrate Doge into their payment transactions and consumers should be able to pay conveniently with it.


Musk is being sued in the US

So, while working behind the scenes to further develop the biggest memecoin of all time, Elon Musk is once again dealing with the judiciary. This time, an investor in the USA is suing, who sees himself harmed by the fact that Musk is allegedly manipulating the Dogecoin course with his activities on social media.


In fact, there is a close correlation between Musk's Twitter activities and DOGE's price swings. He most recently expressed his support for Dogecoin on June 19, and the price ended the day in positive territory. However, the same was true for Bitcoin and other crypto assets, suggesting that Musk's influence, while limited, is certainly limited.


At press time, Dogecoin is trading at $0.062, taking a slight rebound from last weekend's sell-off. It remains to be seen whether Dogecoin will actually become a payment alternative one day. Software alone does not create buyers. However, further hype about the “doge adoption” cannot be ruled out for the future.

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