Dogecoin developer steps down

Dogecoin Foundation core developer Ross Nicoll has stepped down as director.

His decision is the result of several factors, including mounting pressure to deliver on targets as well as a potential conflict of interest as the token’s valuation continues to soar.

Nicoll works with another company in the space, but the entity is not known to the public, which explains why he may see a conflict of interest.

He will stay on in an advisory role hoping to shape the future of the cryptocurrency from the back seat.

“I’m handing over everything I can to the Dogecoin Foundation. I will be remaining as an advisor to the Foundation, to enable transition”, Nicoll said in a blog post that detailed his decision.

Nicoll cited mounting pressure from consumers and imposters as well. He detailed several cases where people were trying to hijack the Dogecoin trademark.

“External parties we had never heard of managed to get articles published which referred to them as Dogecoin developers”, Nicoll said.

He also cited a potential lawsuit by an unnamed party who claimed that the developers were directly responsible for their funds.

Investors had pegged a lot of hope on the currency, buying it in bulk during the 2021 rally. Many “self-made” millionaires praised the currency for its “potential”. Some have backed out but others have stuck around.

The token was created back in 2013 by Jackson Palmer and Billy Markus who ridiculed the idea of Dogecoin only to have Elon Musk resuscitate it in a series of cryptic tweets preceding the Bitcoin surge last year which resulted in a buying frenzy.

Dogecoin naturally still has value. The coin is actually very common at some of the best crypto casinos out there as well, including Bitcasino, 1xBit and FortuneJack.

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Written by Barney

Co-founder

Barney is co-founder of CryptoGamblingNews.com. When not at work he can usually be found behind a Nikon. He's won numerous international competitions for his photography and volunteers as a content creator for aid organisations in Africa.

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