Vitalik Buterin Says DOGE Should Switch to Proof-of-Stake – Vitalik Buterin, the co-founder of Ethereum shares his thoughts on the future of Dogecoin (DOGE). During the discussion, Buterin expresses interest in the possibility of Dogecoin’s blockchain switching from a Proof-of-Work (PoW) to a Proof-of-Stake (PoS) consensus.
As part of a Twitter experiment, Buterin opened a conversation to his 268 Twitter followers. Many replied to the thread with questions of their own. While some were crypto-related, some were not.
Doing a random twitter experiment just on this day. Only the 268 people I follow can reply to this tweet. Feel free to ask things and I'll talk about anything crypto or non-crypto related.
— vitalik.eth (@VitalikButerin) September 1, 2021
To highlight, the CEO of Three Arrows Capital — Zhu Su, asks a question pertaining to the possible cooperation between Ethereum and Dogecoin. Specifically, he asks about any promising ideas from the collaboration.
Firstly, Buterin said that he personally hopes that DOGE will switch to a PoS consensus. He adds on saying he hopes that will be done with Ethereum’s code. As for the 5 billion per year annual PoW issuance, Buterin says it should not stop.
Instead, he says it would be better to put the funds into a DAO of some kind. This way, the funds can drive good intentions. So, above all, the project can continue with its ‘do good’ agenda.
Just about 3 weeks ago, Dogecoin foundation set out to re-establish DOGE’s name. To do so, it set up a council of advisors. One of which happens to be Vitalik Buterin. The DOGE community hopes to fortify DOGE’s blockchain and bring the meme coin back to its former days of glory.
When this news came out, many were happy to hear it. A lot of big-time investors like Elon Musk and Mark Cuban believe in DOGE and its community. While many were excited at the prospect of the project switching to PoS, some were not.
