The Dogecoin Core Developer Ross Nicoll Explains Why He Is Stepping Away From Dogecoin

ross nicoll explains whe is stepping away from dogecoin
Ross Nicoll explains whe is stepping away from dogecoin

Ross Nicoll, The Dogecoin Core Developer, recently announced his departure from the main cryptocurrency project, but will continue to serve as an advisor, citing overwhelming stress and a potential conflict of interest.

Nicoll also works full time for another company, the name of which is unknown at this time

The Dogecoin Foundation is a non-profit organization that aims to support the development of the meme coin, and it has released its first ever roadmap outlining a number of new projects. It should be noted that Nicoll also works full time for another company, the name of which is unknown at this time.

According to Nicoll, his departure isn’t final, and there is further complication because his employer is moving into the blockchain space, which could create a conflict of interest if he continues to serve as director of the Dogecoin Foundation.

“I’m giving the Dogecoin Foundation everything I have.” To facilitate the transition, I will continue to serve as an advisor to the Foundation. To avoid the inevitable queries, it’ll probably take 4-8 weeks until I’m off the official business house registry, due to the paperwork and process involved in replacing a director.”

The Dogecoin Foundation continues to face a number of threats, according to the chief developer. In 2021, a number of parties registered Dogecoin trademarks presumably to claim they were Dogecoin external parties we’d never heard of were able to get articles published referring to them as Dogecoin developers.

There was also a potential lawsuit against the developers in the summer of 2021 from someone who claimed they were responsible for their funds, Nicoll said, adding that he’s not in the right frame of mind to steer Dogecoin into the next phase.

Toxicity may negatively impact DOGE Brand, Says Co-Founder Billy Markus urging focus shift from speculations

Just a few weeks ago, Billy Markus, the co-founder of meme cryptocurrency Dogecoin has asked supporters to “stay cool” amid the cryptocurrency failing to gain any significant traction since January 2022. In a tweet, Markus warned the members of the meme-coin community against getting “crazy, toxic, attacky, spammy,” and said that could devalue the brand.

Doge also has a fervent supporter in Tesla CEO Elon Musk, who has frequent tweets have contributed to the digital tokens growth. Musk’s Twitter bio was once changed to former CEO of Dogecoin. Other celebrities such as rapper Snoop Dogg and rock musician Gene Simmons have promoted it on social media as well.

Dogecoin, like many other cryptocurrencies, is a digital currency that operates on a decentralized network. Users can instantly send money to one another, be in the network from anywhere in the world as long as they have access to the Internet. Musk has often said that he became interested in Dogecoin, specifically because many of Tesla’s production line workers owned it.

The Dogecoin Foundation had announced its re-establishment in mid-August, promising to support the meme coin community as well as promote the future of the Dogecoin blockchain. The foundation stated at the time that they’re there to accelerate the development effort by supporting current Dogecoin core and future Dogecoin developers to work full time through sponsorship, as well as providing a welcome landing for new contributors hoping to help with the project.

Dogecoin price today

Dogecoin price today is $0.135531 USD with a 24-hour trading volume of $1,442,493,411 USD. We update our DOGE to USD price in real-time. Dogecoin is down 0.19% in the last 24 hours. The current CoinMarketCap ranking is #12.

 

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