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Dogecoin’s core developer stepping away from meme crypto project; Know why

Notably, Dogecoin Foundation is a non-profit organisation aiming to support the development of the memecoin.

Ross Nicoll, a core developer of the Dogecoin Foundation informed that he is siding himself from the meme cryptocurrency project but will continue as an advisor citing the reason of “overwhelming” stress and a potential conflict of interest. Notably, Dogecoin Foundation is a non-profit organisation aiming to support the development of the memecoin. The company has launched its first-ever road map detailing several new projects.

Reportedly, Nicoll besides being the developer of the Dogecoin Foundation also works as a full-time employee of another company whose name is unknown at present. Nicoll stated that his resignation is not absolute and there is “further complication” as his employer is indulging in the blockchain space, which could initiate the risk of conflict of interest if he were to remain as director of the Dogecoin Foundation. “I’m handing over everything I can to the Dogecoin Foundation. I will be remaining as an advisor to the Foundation, to enable transition,” he wrote in a blog post.

Dogecoin

Further, Nicoll wrote about the multiple threats that Dogecoin Foundation continued to face. In 2021, some parties were registering trademarks for Dogecoin, presumably to claim “they” were Dogecoin. “External parties we had never heard of managed to get articles published which referred to them as Dogecoin developers. In the summer of 2021, there was a potential lawsuit against the developers from someone who claimed we were responsible for their funds,” Nicoll stated while informing that he is not in the right mindset to steer Dogecoin into the next phase.

Earlier, Billy Markus, the co-founder of Dogecoin asked the supporter to “stay cool” amid cryptocurrency failing to gain any significant traction since January 2022. Taking to Twitter, Markus warned the members of memecoin community against getting “crazy, toxic, attacky, spammy,” and that it could devalue the brand.

Billy Markus

Dogecoin was founded in 2013 by software engineers Billy Markus and Jackson Palmer as a “fun” alternative to Bitcoin. Initially, it aimed to be a satire on the numerous fraud crypto coins during that time and takes its name and logo from the Shiba Inu memecoin that went viral several years ago.