Dogecoin Seems Adopting Proof-of-Stake!

Dogecoin Seems Adopting Proof-of-Stake!

True to the fact there never goes a single week upon the crypto industry without the mention of the much loved and adored meme-coin, the Dogecoin (DOGE). In spite of creating a major buzz last month about the Dogecoin Foundation, many came in awe to witness the surge of the DOGE furthermore. Also, the highlight was that the board members who joined the Dogecoin Foundation, being the co-founder of Ethereum (ETH) Vitalik Buterin, Dogecoin co-founder Billey Markus, Dogecoin developer Ross Nicoll and from the stables of Tesla, Jared Birchall. 

Besides, with such a team into the Dogecoin Foundation, many speculate that DOGE will profusely shoot up soon. 

Vitalik’s Views  

The co-founder of Ethereum (ETH), the young chap, Vitalik Buterin is wholly positive with the DOGE and being part of the Dogecoin Foundation. Accordingly, Buterin puts forth that there are high possibilities for DOGE to adapt itself into Proof-of-Staking (PoS). 

In spite of this, Buterin adds, it’s the same way as ETH has now switched to PoS. Likewise, DOGE ought to follow the same way. Also, he adds this PoS will be towards the crypto mining profusely. 

Moreover, Buterin took to expressing this officially via Twitter. Upon the tweet, Buterin depicts that DOGE should never ban out or stop its 5 billion per annum Proof-of-Work (PoW). In addition, he insists DOGE should invest in Decentralized Autonomous Organizations (DAO) as support towards global funds. Also, he adds that this will help DOGE in maintaining its non-profit public stance on the whole.

The Developers and Leaders Opinions

Much to the prediction and analysis by Vitalik Buterin, the core developer of DOGE, Ross Nicoll, and the community leader of DOGE Gary Lachance depict the same.

 In spite of this, the developer Ross Nicoll reveals his personal desire for DOGE to adopt the PoS. However, he states that he has to pacify many among the foundation for this. Also, he terms satisfying everyone at times would be hard. 

On the other hand, the leader of the DOGE community, Gary Lachance also joins with Nicoll’s statements but with a rather different aspect and point of view. 

Accordingly, Lachance states PoS establishes less consumption of electricity compared to the PoW in terms of mining activities. Also, he points out the energy being burnt towards the mining of Bitcoin (BTC) and the dangers it poses to the environment. 

Furthermore, Lachance states adopting PoS for DOGE would be the best and foremost idea in terms of bringing environment-friendly and green mining.

A Project Engineer by profession, a writer by passion. Especially into the critics and skeptics on cryptocurrency. His fascination towards the crypto world and his personal experience on it has made him a writer with a taste.