Recently, Ross Nicoll, who is also the core developer of Dogecoin announced that he will be stepping away from the cryptocurrency project due to “overwhelming” stress and a potential conflict of interest.
Here’s why?
However, he also said that he will continue to remain the advisor for projects. Dogecoin was created in 2013 by software engineers Billy Markus and Jackson Palmer as a faster but “fun” alternative to Bitcoin.
About Dogecoin
Dogecoin Foundation is a nonprofit organization that aims to support the development of the meme coin and has launched its first-ever road map detailing a number of new projects.
Nicoll’s Blog Post
Nicoll also stated in his statement that he works full-time for a company. He did not reveal the company’s name. He wrote the blog post on this matter which said “I’m handing over everything I can to this meme coin Foundation. I will be remaining as an advisor to the Foundation, to enable transition,”.
External parties we had never heard of managed to get articles published that referred to them as its developers. In the summer of 2021, there was a potential lawsuit against the developers from someone who claimed we were responsible for their funds,” he added.
The chief developer also wrote about the number of threats that the Foundation continues to face. In 2021, a number of parties were registering trademarks for Dogecoin, presumably to claim “they” were them.
Dogecoin’s Connection to Tesla
Nicoll did his best to protect Dogecoin from trademark registrations made by non-affiliated entities. The meme-coin success is also linked to Tesla CEO Elon Musk’s enthusiasm for it. Musk showed a lot of interest in it.
DOGE’s price has dropped more than 70% since its peak. Billy Markus warned the members of the meme coin community against getting “crazy, toxic, attack, spammy,” and that it could devalue the brand. He also asked the supporters to stay cool.
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