Is Dogecoin Next? Ethereum’s Vitalik Buterin Says Meme Coin Should Move to Proof-of-Stake cryptomarketbag


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Ethereum Blockchain Co-Founder Believes All Chains Should Switch to Proof-of-Stake in the Future

Ethereum co-founder Vitalik Buterin said that meme coin Dogecoin should switch to proof-of-stake during its virtual appearance at Mainnet 2022, a cryptocurrency summit hosted by cryptocurrency analytics firm Messari.

Buterin believes that privacy token Zcash should also move away from proof of work.
As reported by U.Today, Ethereum switched to Proof-of-Stake after going through the merge event on September 15th. The upgrade has made it possible to dramatically reduce the carbon footprint of the blockchain.

Dogecoin became the second largest proof-of-work cryptocurrency (behind only bitcoin). However, the Dogecoin Foundation confirmed that the transition to Proof-of-Stake will be part of the roadmap for Mem Coin. Earlier this year, Buterin confirmed that he was helping Dogecoin to switch to proof-of-stake.

As for Zcash, the leading privacy coin is also on track to ditch the energy-gazzling proof-of-work consensus algorithm.

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scaling and privacy

During the summit, Buterin noted that the transition had gone better than expected. The community of Ethereum developers will now focus on making the second largest blockchain more scalable. The Canadian programmer defined scalability as the most important issue for the next 18 months, saying it is something the ecosystem has to “deliver”.

Buterin also said that Ethereum developers are working on censorship resistance and privacy improvements.



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