Dogecoin Labs is bringing together the MyDoge wallet, the DogeOS application network and Such App merchant tools in a bid to give DOGE holders more ways to use and spend their coins.
According to an announcement shared with CoinDesk, Dogecoin Labs was formed in partnership with the Dogecoin Foundation and will own and operate MyDoge, DogeOS and Such App. Jordan Jefferson, founder of MyDoge and DogeOS, will lead the company as CEO.
The plan ties together three parts of a possible DOGE business ecosystem. Developers build applications on DogeOS. Holders discover them through MyDoge. Merchants use Such App to accept payments. Such App’s beta already supports invoices and in-person QR payments, though its connection to DogeOS is still at the planning stage.
One operating structure for wallet, apps and merchant tools
Dogecoin Labs said the combination is meant to expand the number of places where DOGE can be used in everyday activity. The effort joins the teams behind a Dogecoin wallet, an application network and merchant payment tools.
MyDoge said it has 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 did not say how many wallet users are active or how many have tried those applications.
DogeOS testnet is live, but key pieces are still unfinished
DogeOS remains unfinished, though it has opened a public test network for developers. The network went live on Sept. 30 and allows developers to build Ethereum-style lending services, exchanges and games using test DOGE. Dogecoin itself handles coin transfers, so those applications run on a separate system.
Three weeks after the public test network opened, DogeOS’s public user guide still listed its featured applications as “coming soon.”
Its planned security link to the Dogecoin blockchain also needs more work. DogeOS wants Dogecoin’s own network to check mathematical proofs showing that its applications ran correctly. The proposed rule change needed for that is still in draft form. Until the link is implemented, users will have to rely on DogeOS’s selected operators and hardware to verify that the applications work as intended.
Foundation and House of Doge split responsibilities
The Dogecoin Foundation and its commercial arm, House of Doge, are contributing intellectual property and development teams. The foundation will continue its open-source development support, advocacy and community work, while Dogecoin Labs will focus on products and commercial opportunities.
DOGE price and project context
Dogecoin is one of the oldest cryptocurrencies. It was created in 2013 as a joke and uses a shiba inu image. The token was up 3.9% over the past 24 hours and was recently trading around $0.082, according to the report.