After joining the Dogecoin Foundation as one of the advisory board members, Vitalik Buterin finally revealed the Dogecoin network will switch to a Proof of Stake (PoS) mechanism.
For the record, the Dogecoin Foundation has enlisted Buterin’s help to roll out the transition of the consensus mechanism and the figure confirmed his presence through an interview with UpOnly recently.
According to Buterin, most cryptocurrencies will switch to PoS because of its benefits.
This is more clearly assessed if Ethereum is already officially operating based on such a mechanism, and Dogecoin plans are much more advanced.
While PoS is known for its benefits over Proof of Work (PoW), a handful of the crypto market community; one of them Twitter CEO Jack Dorsey thinks PoW offers higher protection than PoS.
The proof is, the Bitcoin network also shows no signal to switch to PoS.
What is for sure, PoS brings more benefits to the entire community involved, not just to miners like Bitcoin.
Dogecoin project
It is understood that several of these network projects are in focus, involving:
Learning content
Its portfolio that can be used on payment platforms
DOGE users in play-to-earn (P2E) games
The launch of a new cryptocurrency, Libdogecoin as the only PoS migration is complete
However, this exciting news failed to trigger the DOGE price movement.
DOGE traded at $ 0.14, down below 1% in 24 hours but still up nearly 3% since its daily low, $ 0.13 recorded yesterday.
