The problem of the principle “meme” cryptocurrency’s transition to proof-of-stake consensus has been mentioned for a very long time, and at one cut-off date, it even attracted the eye of Ethereum founder Vitalik Buterin.
Personally, I hope that doge can change to PoS quickly, maybe utilizing ethereum code. I additionally hope they do not cancel the 5b/yr annual PoW issuance, as an alternative they put it in some sort of DAO that funds world public items. Would match nicely with dogecoin’s non-greedy healthful ethos.
— vitalik.eth (@VitalikButerin) September 2, 2021
Since December 2021, when the topic was most actively mentioned, some huge cash and time have flowed away from the crypto market, however the transition proposal continues to be listed within the Dogecoin Trailmap. Nonetheless, up to now, it is just a proposal to the DOGE group, and Vitalik himself is usually centered on his major mission, Merge on Ethereum.
On the similar time, it may be assumed that not this yr, however in 2023, Dogecoin will transfer to a newfangled consensus, which can provoke a way more highly effective pump of DOGE than Ethereum’s. Given the already worldwide recognition of the cryptocurrency, in addition to the experience that Buterin and different proof-of-stake adepts can present, if the transition of DOGE takes place, there’s each probability of seeing double- or triple-digit progress percentages on the chart once more.
Present state of Dogecoin (DOGE)
Thus far, the information background round Dogecoin consists largely of stories of a lawsuit towards Elon Musk, who’s accused of pumping DOGE, however nonetheless the mission group itself continues to work on updating part elements of the ecosystem, such because the Dogecoin Core Pockets and Dogecoin Standart.
The value of DOGE, after the August surge, which was as soon as once more the harbinger of a significant fall of the crypto market, continues to stay in the identical value hall, the place it was in Could.