Ethereum co-founder Vitalik Buterin proposed that Dogecoin switch to the Proof-of-Stake (PoS) model using Ethereum code. The discussion about Dogecoin takes place against the background of Buterin becoming the board advisor of The Dogecoin Foundation.
Personally, I hope that doge can switch to PoS soon, perhaps using ethereum code. I also hope they don't cancel the 5b/year annual PoW issuance, instead they put it in some kind of DAO that funds global public goods. Would fit well with dogecoin's non-greedy wholesome ethos.— vitalik.eth (@VitalikButerin) September 2, 2021
Since in the last month the non-commercial Dogecoin Foundation announced its re-establishing and Buterin entered it, this may indicate collaboration of blockchains. Now the promising programmer has committed a real effort to improve the project, which should bring real improvements to Dogecoin.
The Proof of Stake (PoS) concept states that a person can mine or validate block transactions according to how many coins they hold. This means that the more coins owned by a miner, the more mining power they have.
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