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Contrary to the opinions of some influencers, the Dogecoin team does not plan to transfer the blockchain to the Proof-of-Stake (PoS) consensus algorithm. This was stated by one of the leading developers Michi Lumin.
More info for ya. Influencers, even if they have millions of views and followers, even if they speak with authority, do not actually have the inside scoop on what's going on with #dogecoin. Just because one says a validation method is changing, doesn't mean it is.
— Michi Lumin (@michilumin) December 29, 2022
"It is impossible, and it is not planned, for an individual, organization or body to "move", "transfer" or "change" Dogecoin to PoS. Everything that can be done: this is to outline the contours, perhaps implement it in code, and pass it to the community for further solutions," the programmer wrote.
In September, Ethereum co-founder Vitalik Buterin, during the Mainnet conference, allowed Dogecoin to migrate to the PoS algorithm as the mechanism develops. In October, Charles Hoskinson, the founder of Cardano, proposed to transfer the meme cryptocurrency into the ecosystem of his project.
According to Lumin, it is worth considering how changes occur in Dogecoin-type blockchains, which are closer to bitcoin technology than to more modern EVM networks.
He acknowledged that the team has an idea to propose a discussion of a potential change in the consensus mechanism. However, the implementation of such solutions is possible only with the broad support of users.
"If and when the proposal becomes a reality, there will be A LOT of discussion in the community before all subsequent steps. [...] A sudden and forced “move” to PoS is impossible for Dogecoin, which operates on the basis of consensus. It has always been and will be so," he stressed.
What is Dogecoin (DOGE)?
In September, after the implementation of The Merge update in Ethereum, Dogecoin became the second most capitalized cryptocurrency on the Proof-of-Work algorithm. With an indicator of $9.4 billion, the coin is almost twice ahead of Litecoin, significantly inferior to bitcoin.
dаta: CoinMarketCap.
Recall that in July, the developers released a new version of the Dogecoin client. The release is intended to improve the security and efficiency of the network, as well as improve the user interface.
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