What is Dogecoin Foundation? A Non-Profit Organization Since 2014!

Bittime - Dogecoin has a non-profit organization called the Dogecoin Foundation, which is one of the main pillars in the community.

So, what is the Dogecoin Foundation, what is its history, and its role for Dogecoin? Read this article to find out more! 

What is Dogecoin Foundation?

Dogecoin The Foundation is a non-profit organization established to support the development and advocacy of Dogecoin. 

This organization is tasked with maintaining the Dogecoin ecosystem, protecting its assets, including intellectual property rights, as well as promoting positive social impacts through the use of Dogecoin and other crypto assets.

As one of the main pillars in the Dogecoin community, the Dogecoin Foundation also plays an important role in providing education and research regarding the potential of crypto in creating better social change.

Read Also: Who Created Dogecoin (DOGE)? Not Elon Musk lol!  

History of Dogecoin Foundation

The Dogecoin Foundation was first formed in 2014 by developers and members of the Dogecoin community. 

Initially, the organization's primary goal was to serve as an intermediary to evaluate and support charities chosen by the community. 

However, as Dogecoin's popularity grows, the responsibilities of these organizations also grow.

To avoid potential legal risks that the core developers and project team may face, the Dogecoin Foundation is registered as a non-profit organization with 501(c)(3) tax-exempt status in Colorado, USA.

Read Also: How Much Did $DOGE First Appear?  

Roles of Dogecoin Foundation

The Dogecoin Foundation is also responsible for protecting the "Doge" trademark. In 2014, the organization reached an agreement with UltraPro LLC regarding use of this brand. 

However, Dogecoin's soaring popularity in 2021 brought new challenges in the form of bad faith trademark applications in various countries.

As a trademark custodian, the Dogecoin Foundation works hard to ensure that Dogecoin is not misused or victimized by fraud. 

This effort not only protects the Dogecoin community but also strengthens public trust in this crypto asset.

Read Also: Uses of Dogecoin (DOGE) and Main Features   

Social Activities of Dogecoin Foundation

One aspect that differentiates Dogecoin from other crypto projects is its focus on charitable activities. 

The Dogecoin Foundation, both directly and indirectly, has supported various social projects. This is in line with the spirit of the Dogecoin community which is known for its slogan "Do Only Good Everyday".

By using Dogecoin as a donation tool, the community has helped many projects, from supporting clean water projects in developing countries to funding space missions.

Read Also: Accept Payments Using $DOGE: Here's a List of Companies, Don't You Know?   

Dogecoin FAQs

What is Dogecoin?

Dogecoin is a meme coin created in 2013 by Billy Markus and Jackson Palmer. Originally created as a joke, Dogecoin has now become one of the most popular crypto assets with a large and active community.

What is the Difference Between Dogecoin and Bitcoin?

Dogecoin has an unlimited supply, while Bitcoin has a maximum supply of 21 million coins. In addition, Dogecoin transactions are faster and have lower fees than Bitcoin, making them more suitable for everyday payments.

What is the use of Dogecoin?

Dogecoin is often used for online tipping, charitable donations, and micropayments. Apart from that, the community is also active in supporting social projects.

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Reference

Dogecoin Foundation, About the Foundation, accessed December 27, 2024.

Dogecoin, What is the Dogecoin Foundation?, accessed December 27, 2024.

Dogecoin Fandom, Dogecoin Foundation, accessed December 27, 2024.

Author: IPR