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Fintech company Metallicus has deployed an alpha version of the DogecoinVM payment layer on mainnet, which makes Dogecoin transactions 300 times faster. "We made it 300x faster," said company CEO and Dogecoin Foundation board member Marshall Hayner, positioning the development as a direct technological solution to a major challenge Elon Musk identified in 2021.
At the time, the billionaire called on the crypto community to increase Dogecoin's throughput several times over so it could become a global payment method.
Instead of modifying the base Dogecoin Core protocol, Metallicus engineers built an independent parallel layer on top of the Metal Blockchain infrastructure. "It does not create a new coin or change Dogecoin Core itself," Hayner emphasized, noting that DogecoinVM's architecture fully preserves the original UTXO model.
"Your existing Dogecoin wallets/keys work the same way," he added, confirming native compatibility with existing "D"-format addresses and users' private keys. As a result, users will not need to change wallets to use the solution.
Plans for fintech and X: Where Metallicus wants to take Dogecoin
The technological leap is explained by the shift from energy-intensive Proof-of-Work to the Snowman consensus protocol (Proof-of-Stake). This has reduced transaction finalization time to 0.15–0.25 seconds, making throughput independent of strict block-size limits.
The mechanism works like a two-way bridge: the original DOGE is locked on the main network, while a collateral-backed equivalent is issued inside DogecoinVM at a 1:1 ratio and can be withdrawn instantly.
Despite its global ambitions, Metallicus leadership is avoiding speculative hype around the launch while also working to implement SOC 2 security standards for the banking sector. At this alpha-testing stage, the source code is open on GitHub, but the system has not yet undergone an independent security audit.
"It is live in alpha/beta on Metal Blockchain mainnet... but capped for safety," the team says. To minimize risks, the network has strict safeguards in place, limiting individual deposits to 100 DOGE. Users are strongly advised to keep their asset balances small.
Still, the company indicates that the current launch is a foundation for future practical applications in the real world.
"The broader goal is practical use in fintech, banks, credit unions, and platforms," Hayner said, highlighting the long-term potential of integrating fast cryptocurrency settlements into the payment services of social network X.