Dogecoin (DOGE) Moves From a Joke to a Sensation

Dogecoin (DOGE) lead developer Mishaboar took time to outline a few reasons for insisting that the Layer-1 blockchain be decentralized

Dogecoin (CRYPTO: DOGE) lead developer Mishaboar recently outlined a few reasons for insisting that the Layer-1 blockchain be decentralized, permissionless, and open to the public. It is worth noting that Dogecoin has no centralized system holding control over its activities. Mishaboar clarified that this is rarely an attack against specific people or efforts.

“This is not an attack on anyone or any effort in particular,” he said.

Mishaboar took time to highlight some key aspects of Dogecoin's nature. He pointed out that Dogecoin began as a joke but later became one of the top digital currencies. The present status of the memecoin is a result of community efforts.

“Memecoin has shown resilience and some other top-notch qualities. This includes the capacity for serving as a gateway to crypto due to its perceived friendliness. There never was a privileged group of high-profile developers or holders who controlled the network’s development.”

Dogecoin Outranks Other L1 Protocols In Decentralization

Mishaboar referenced the biggest L1 crypto-assets according to market capitalization, especially those on the list of the top 20. They are either extremely centralized, including their technical implementation, or “with a group behind them that, in a way or in another, has become influential, privileged, powerful, and wealthy. This paints a panorama for crypto that is, at least for me, overall depressing.”

While the intention of these centralized exchanges may not be to cause harm or damage, the absence of decentralization becomes a window for weakness and even negatively impacts technical implementation. In the long run, the future of cryptocurrency suffers for it.

Clear Warning To Dogecoin Builders

To this end, Mishaboar issued a reminder for all those involved in an effort to develop or build for Dogecoin. He urged them to constantly remind themselves that they are just building an “external” solution or preparing proposals to be shown in a public forum where it is open to discussion.

If this is not true, “you risk grafting onto Dogecoin an identity that is just not part of what gives the coin strength.”