- Vitalik Buterin hopes that Dogecoin will switch from Proof-of-Work protocol to Proof-of-Stake (PoS).
- DOGE should put its funds into a Decentralized Autonomous Organization DAO he continue.
Vitalik Buterin, the co-founder of Ethereum blockchain shares his opinion on the long term run of Dogecoin (DOGE). During the discussion, Vitalik Buterin show his interest within the possibility of Dogecoin’s blockchain switching from a Proof-of-Work (PoW) to a Proof-of-Stake (PoS) algorithm.
Vitalik Buterin, the co-founder of Ethereum blockchain opened a conversation via Twitter tweet to his 268 Twitter followers. Many Twitter users replied to the Vitalik Buterin with questions of their own. While some were crypto-related, some weren’t.
First of all Vitalik Buterin said that he personally hopes that Dogecoin DOGE will switch to a PoS algorithm. He adds on saying he hopes that may be finished Ethereum’s code. As for the 5 billion p.a. annual PoW issuance, Vitalik Buterin says it shouldn’t stop.
Instead, he says it might be better to place the funds into a DAO of some kind. This way, the funds can drive good intentions. So, above all this, the project can continue with its ‘do good’ agenda.
Just about 3 weeks ago, Dogecoin foundation commenced to re-establish DOGE’s name. To do so, it founded a council of advisors. one amongst which happens to be Vitalik Buterin. The DOGE community hopes to fortify DOGE’s blockchain and produce the meme coin back to its former days of glory.
When this news came out, many were happy to listen to it. lots of big-time investors like Elon Musk and Mark Cuban believe DOGE and its community. While many were excited at the prospect of the project switching to PoS, some weren’t.