Vitalik Buterin Proposes that Dogecoin Switch to PoS via Ethereum Code

Ethereum co-founder Vitalik Buterin proposed that Dogecoin switch to the Proof-of-Stake (PoS) model using Ethereum code. The discussion about Dogecoin takes place against the background of Buterin becoming the board advisor of The Dogecoin Foundation.

On August 19, the Dogecoin Foundation, founded in 2014, announced its re-establishing. The main goal of the foundation is to pay special attention to supporting the Dogecoin Ecosystem and Community, and promoting the future of the Dogecoin Blockchain. According to the statement, the new Dogecoin Foundation advisory board includes Ethereum co-founder Vitalik Buterin, who has been very positive about Dogecoin in the past and even hinted at collaborating with Ethereum.

Buterin recently initiated a discussion on Twitter. He said he would answer any questions that might concern just about anything. Despite this, most of the questions concerned cryptocurrencies, and some of them were about Dogecoin. The founder of the Singaporean managing Three Arrows Capital, Zhu Su, wondered what promising ideas for the Ethereum and Doge collaboration there are, as well as what he was interested in with Doge. In response to this question, Buterin wrote that he hopes that Doge will soon be able to switch to PoS, possibly using the Ethereum code.

Personally, I hope that doge can switch to PoS soon, perhaps using ethereum code. I also hope they don't cancel the 5b/year annual PoW issuance, instead they put it in some kind of DAO that funds global public goods. Would fit well with dogecoin's non-greedy wholesome ethos.

— vitalik.eth (@VitalikButerin) September 2, 2021

Since in the last month the non-commercial Dogecoin Foundation announced its re-establishing and Buterin entered it, this may indicate collaboration of blockchains. Now the promising programmer has committed a real effort to improve the project, which should bring real improvements to Dogecoin.

The Proof of Stake (PoS) concept states that a person can mine or validate block transactions according to how many coins they hold. This means that the more coins owned by a miner, the more mining power they have.

 

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Article edited by @SmokeyShorts, you can follow him on Twitter

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