Ross Nicole, the DOGE developer of dogecoin, announced last week that he would quit the project. Nicoll, who is also a member of the advisory board of the Doecoin Foundation, said that he has been trying to keep his Doecoin job and a full-time job. Nicoll also mentioned the challenge of dealing with the trademark problem in dogecoin, which has plagued the team's efforts in recent months.

"The main reason is that the pressure involved is overwhelming. I need to take a step back and focus on myself for a while," he said in a blog post. "There is a more complicated situation. My daily employer is entering the blockchain field. If I continue to serve as a director, it will lead to the risk of conflict of interest."

dogecoin's crisis and crumbling foundation

dogecoin is a project that constantly goes against expectations. A normal enterprise will start with a plan and clearly state what it intends to do. Normal enterprises will register their trademarks. Normal enterprises will have full-time employees. It will not be run by part-time semi-volunteers, and there is no headquarters.

But dogecoin is not normal at all. To be fair, many aspects of the encryption industry are unusual, but dogecoin is special even for encryption. It was originally created as a joke and is not intended to last. It has no utility and no business plan. It doesn't need a registered trademark.

Then, its disrespectful attitude and fun-loving nature won the whole investor community. Its market value has increased exponentially, and now it has reached $17 billion-similar to the market value of large multinational companies. Since this time last year, it has been among the top 2 cryptocurrencies in terms of market value, although its price has dropped by 8% from the all-time high in May.

to some extent, its success is attributed to the unremitting efforts of people like Ross Nicole. This and billionaire Elon Musk thought it would be ironic if a joke coin became the currency of the future and promoted it on social media. But the challenge is that it is extremely difficult to go back and redesign this multi-billion dollar project.

can dogecoin survive Nicole's departure?

volunteers and employees

at that time, we promised to hire full-time employees. But six months later, the project lost another key person. Nicole said in the letter that he relied on his daily work to pay his bills. "I haven't received any funds from dogecoin tip jar since I paid 1.14.-3 tip jar in July 221," he said. This raises another question-if it is not a volunteer, who will benefit from DOGE's success?

Trademark dispute

Besides, the trademark pressure in dogecoin is no joke. Last year, dogecoin was threatened by various other organizations that tried to register their own dogecoin trademarks. One person even registered a company called dogecoin Foundation and created a new dogecoin.

these legal disputes divert the attention of the foundation from the work that needs to be completed, and bring extra pressure to the seemingly exhausted team. "The foundation operates in a challenging environment, and each step of the simple process is much more complicated than it should be, but it is moving forward," Nicole said.

finally.