Will Dogecoin Transition to PoS? Core Developer Says No

The proof-of-work mechanism has always received criticism for its energy-centric nature. For this very reason, proof-of-stake has received much attention from many. Ethereum also recently shifted to PoS, which was one of the most monumental upgrades for the world’s second-largest cryptocurrency.

According to rumors, the Dogecoin Foundation and Vitalik Buterin, the co-founder of Ethereum, are working together to develop a proof-of-stake proposal. The collaboration followed the trail map schedule published by the Dogecoin Foundation in December.

The trail map indicated that the switch to proof-of-stake was most likely to occur in 2022. However, the foundation has yet to officially announce the transition, and 2022 is ending in two days. However, dismissing all the rumors, DOGE core developer comes to Dogecoin’s rescue.

Dogecoin core developer dismisses PoS transition rumors

Dogecoin core developer, Michi Lumin, recently tweeted about Dogecoin and its transition to PoS. As per the details from the tweet, Lumin mentioned that influencers are blatantly speaking about Dogecoin and its PoS transition without having an idea on how it works.

Lumin also mentioned that, if in any situation there will be a transition, there will be a community deliberation. She also added that a sudden and forced move to PoS is impossible for the meme coin.

  • doge
  • Dogecoin
  • pos
  • Proof of Stake

Comments

Post a Comment

Popular posts from this blog

Elon Musk Denies Talks to Raise $3 Billion to Pay Twitter Debt Elon Musk Denies Talks to Raise $3 Billion to Pay Twitter Debt

Image
The Wall Street Journal reported that Elon Musk is in talks to raise $3 billion to pay off the substantial Twitter debt looming over the platform. The report states that Musk is exploring potential fundraising in an effort to begin paying back some of the $13 billion in debts that are connected to the social media platform. The report notes that Musk and his representatives have been in talks to sell up to $3 billion in Twitter shares. Adding that people close to the matter have cited discussions as far back as December. Conversely, Musk has taken to Twitter to deny the report. Source: MacRumors Musk Seeking Sale of $3 billion in Twitter Shares Since his $44 billion acquisition of the platform months ago, it has not been an easy road for Elon Musk ’s new Twitter . The controversy surrounding mass layoffs, and the highly publicized development of the subscription service have all been a constant aspect of the platform since his ownership. A massive part of his early per...
Read more

Shiba Inu Poised To Destroy A Zero: Here's When

Image
The Shiba Inu network is setting its sights on a significant milestone in the world of crypto currencies: the eradication of a decimal point. In crypto lingo, “eliminating a zero” is the term used when a coin’s price increases tenfold, effectively shifting its decimal point to the right. While this journey may be lengthy, it is by no means unattainable, and the SHIB community is abuzz with anticipation. With Shiba Inu’s (SHIB) current price standing at $0.00000793, the community is optimistic about SHIB’s prospects for destroying another zero from its price point. To accomplish this feat and breach the $0.00001 level, SHIB would need to achieve a gain of roughly 25.5%. Notably, the last time SHIB traded above the $0.000001 mark was back in August, as per Binance’s data. Source Amidst this development, the SHIB market saw a recent decrease in trading volume. While some may find this worrisome, others interpret it as a positive signal. Reduced tra...
Read more

After BRICS Success, President Xi Jinping Likely To Skip G20 Summit

Image
After the successful BRICS summit in Johannesburg, Chinese President Xi Jinping is most likely to skip attending the G20 summit in New Delhi, India. Sources familiar with the matter said that Chinese Premier Li Qiang will represent that nation at the G20 summit in September. Two Indian officials, one diplomat in China, and an official of another G20 country told Reuters on condition of anonymity that Qiang is expected to lead China’s efforts on behalf of Jinping at the summit. Also Read: Second BRICS Expansion Soon: South African PM Makes Huge Announcement Jinping is most likely skipping the G20 summit comes on the heels of the border dispute between India and China. The recent controversy over border disputes engulfed after China drew a map showcasing Arunachal Pradesh a part of Chinese territory. For the uninitiated, Arunachal Pradesh is a State in the northeast part of India and borders China. The proximity to China has caused several border disputes for decades. Whil...
Read more