Dogecoin developer denies plans to switch blockchain to Proof-of-Stake

dogecoin min
dogecoin min

Contrary to the opinions of some influencers, the Dogecoin team does not plan to transfer the blockchain to the Proof-of-Stake (PoS) consensus algorithm. This was stated by one of the leading developers Michi Lumin.

“It is not possible, nor is it planned, for an individual, organization or body to “move”, “port” or “change” Dogecoin to PoS. All that can be done is to sketch out the contours, perhaps implement it in code, and pass it on to the community for further decision, ”wrote the programmer.

In September, Ethereum co-founder Vitalik Buterin, during the Mainnet conference, allowed Dogecoin to migrate to the PoS algorithm as the mechanism develops. In October, Cardano Founder Charles Hoskinson proposed moving the meme-cryptocurrency into the ecosystem of his project.

According to Lumin, it is worth considering how changes are taking place in blockchains like Dogecoin, which is closer to Bitcoin technology than to more modern ones. EVM-networks.

He acknowledged that the team had an idea to propose a discussion on a potential change to the consensus mechanism. However, the implementation of such solutions is possible only with broad user support.

“If and when the proposal becomes a reality, there will be a LOT of discussion in the community before any further steps. […] A sudden and forced “move” to PoS is not possible for Dogecoin, which operates on a consensus basis. It has always been and always will be,” he said.

In September, after the implementation of The Merge update in Ethereum, Dogecoin became the second largest cryptocurrency by capitalization on the Proof-of-Work algorithm. With a figure of $ 9.4 billion, the coin is almost twice ahead of Litecoin, significantly inferior to bitcoin.

Dogecoin developer denies plans to switch blockchain to Proof-of-Stake
Data: CoinMarketCap.

Recall that in July, the developers released a new version of the Dogecoin client. The release is intended to improve the security and efficiency of the network, as well as improve the user interface.

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