Metallicus, a fintech company, has launched an alpha version of the DogecoinVM payment layer on the mainnet, significantly boosting Dogecoin transaction speeds by 300 times. Marshall Hayner, CEO of Metallicus and a board member of the Dogecoin Foundation, emphasized this achievement as a direct response to Elon Musk's 2021 call for increasing Dogecoin's throughput to make it a viable global payment method.
The solution does not alter the original Dogecoin Core protocol but instead adds an independent parallel layer on top of the Metal Blockchain infrastructure. This approach ensures that existing Dogecoin wallets and private keys remain fully compatible with the new system. Users will not need to switch wallets to utilize DogecoinVM.
The speed improvement comes from shifting from the energy-intensive Proof-of-Work consensus to the Snowman consensus protocol (Proof-of-Stake), reducing transaction finalization times to 0.15-0.25 seconds. This change allows throughput to bypass strict block-size limitations. The mechanism functions as a two-way bridge, locking original DOGE on the main network while issuing a collateral-backed equivalent inside DogecoinVM at a 1:1 ratio.
Despite its ambitious goals, Metallicus is avoiding speculative hype around the launch and is working to implement SOC 2 security standards for the banking sector. The system is currently in alpha/beta testing on the Metal Blockchain mainnet, with strict safeguards in place, including a cap of 100 DOGE per individual deposit. The source code is open on GitHub but has not yet undergone an independent security audit.
The company aims to integrate fast cryptocurrency settlements into payment services of fintech platforms, banks, credit unions, and social networks like X. Hayner highlighted the long-term potential for practical use in real-world financial applications.