Dogecoin Labs forms to run MyDoge, DogeOS and Such App under one roof
In brief
- Dogecoin Labs will own and operate MyDoge, DogeOS and Such App, per the announcement.
- Jordan Jefferson, founder of MyDoge and DogeOS, was named CEO of Dogecoin Labs.
- MyDoge says it has passed 500,000 users but didn't say how many are active.
- DogeOS remains on testnet, with its featured apps still marked 'coming soon.'
How the pieces fit
On paper, the plan is simple. Developers build applications on DogeOS, holders find them through MyDoge, and merchants use Such App to accept payments.
The Dogecoin Foundation and House of Doge (its commercial arm) contributed intellectual property and development teams, CoinDesk reported. The foundation will keep handling open-source development support, advocacy and community work, while Labs focuses on products and commercial opportunities. That's a real commercial push for a coin created in 2013 as a joke, shiba inu image and all.
Users, but how many?
MyDoge said it's grown to more than 500,000 users without paid acquisition. Its recently released V3 update connects the wallet to applications being built on DogeOS. The announcement doesn't say how many of those wallet users are active or have tried DogeOS applications.
Such App's beta supports invoices and in-person QR payments. Its connection to DogeOS is still in the planning stage.
DogeOS is still on testnet
DogeOS opened its public test network on Sept. 30, which lets developers build Ethereum-style lending services, exchanges and games with test DOGE. Dogecoin itself handles coin transfers, so those apps run on a separate system. Three weeks after the testnet opened, the DogeOS public user guide still listed its featured applications as "coming soon."
There's a bigger catch.
DogeOS wants Dogecoin's own network to check mathematical proofs that its applications ran correctly, but the proposed rule change that would allow this is still a draft. Until that link exists, users will have to rely on operators and hardware chosen by DogeOS to check that the apps work.
DOGE rose 3.9% over the previous 24 hours and was trading at about 8.2 cents, CoinDesk reported.
Frequently asked questions
What is Dogecoin Labs?
Dogecoin Labs is a new entity formed in partnership with the Dogecoin Foundation. It will own and operate the MyDoge wallet, the DogeOS application network and the Such App merchant payment tool. Jordan Jefferson, who founded MyDoge and DogeOS, will lead it as CEO.
Is DogeOS live on mainnet?
No. DogeOS opened a public test network on Sept. 30, where developers build apps with test DOGE. Three weeks later, its public user guide still listed its featured applications as 'coming soon.'
How will DogeOS applications be secured?
DogeOS wants Dogecoin's own network to check mathematical proofs that its applications ran correctly, but the rule change that would allow this is still a draft. Until it's implemented, users have to rely on operators and hardware chosen by DogeOS.
