The creator of Ethereum confirmed to support Dogecoin

Ethereum Founder Vitalik Buterin has confirmed that he is supporting the Dogecoin Proof-of-Stake (PoS) transition.

Vitalik Buterin Confirms Supporting Dogecoin (DOGE) Moving To Proof-of-Stake

Proof-of-Stake (PoS) consensus mechanism is becoming dominant in the cryptocurrency ecosystem in general, especially Ethereum, the largest smart contract platform on earth, is also getting ready to move to PoS, is expected to reduce charge consumption by up to 99% .

Because, Proof-of-Work (PoW) is currently being criticized very harshly for losing a lot of electrical charge for excavation activities. As will be the consensus mechanism that lays the foundation for the blockchain, PoW requires miners to use specialized equipment to validate transaction blocks and receive rewards in the form of newly issued coins or tokens.

On the contrary, Proof-of-Stake (PoS) allows transaction verifiers in the network to fully stake my coins to guarantee that the next block is valid, thus reducing the need to use electrically charged.

Therefore, in a recent interview with UpOnly, Vitalik Buterin added that almost every major engineering project is planning a transition to PoS. Apparently, he also revealed that Dogecoin (DOGE) is also setting similar ambitions.

“You know, all the mainstream projects want to go PoS, including Ethereum. Dogecoin and Zcash, for example, both chart great strides in the future.”

The founder of Ethereum mentioned a recommendation released in DOGE’s 2022 roadmap at the end of December 2021. Among them is a unique invention for a PoS session, allowing all investors. DOGE holders participate in staking to run the network and contribute together through charitable activities.

In addition, the Dogecoin Foundation also mentioned the cooperation with Vitalik Buterin to develop the above recommendation. Back in August 2021, Buterin is becoming one of each core member of the Dogecoin Foundation advisory board along with a representative on behalf of billionaire Elon Musk, after a period of time when the organization restarted after 6 years of “sleeping” bronze”.

In September 2021, he recommended PoS conversion for Dogecoin with the help of Ethereum technology. Therefore, his move to support DOGE is not too surprising. Apparently, the Ethereum founder is also hoping for a DOGE-ETH bridge, believing that this will boost transaction speed on the Dogecoin network.

(See also Coin68)