Home Technology Ethereum co-founder Vitalik Buterin wants Dogecoin and Zcash to move to proof-of-stake

Ethereum co-founder Vitalik Buterin wants Dogecoin and Zcash to move to proof-of-stake

Ethereum co-founder Vitalik Buterin wants Dogecoin and Zcash to move to proof-of-stake

Ethereum co-founder Vitalik Buterin hopes for popular coin Dogecoin and privacy token Zcash will move their networks to Proof of Stake consensus mechanism (PoS).

Buterin expressed this view to Mainnet Messari 2022 when asked by Ryan Selkis if all networks should switch to PoS. The event also hosted Zcash founder Zooko Wilcox-O’Hearn.

This is not the first time that Buterin will use Zcash to move to Proof of Stake. He said the same thing in 2018, to which Zooko replied that he was waiting for Ethereum to do it first so he could see what was wrong.

For Dogecoin earlier this year it was reported that Vitalik was working with the Dogecoin foundation to migrate it from PoW to PoS. However, there is no specific date for when the change will take place.

Selkis, who served as moderator, posed the questions while the two provided answers, exploring various aspects of blockchain technology.

Buterin talks about transaction fees

According to Buterin, the most important thing besides privacy is scalability, especially in terms of fees. The viability of a blockchain over traditional technology will depend on whether it costs $3 or 3 cents to send a transaction.

Buterin said:

“The transaction fee may seem like just a number, but for the communities we want to have… outside of wealthy countries… the difference between 3 dollars and 3 cents is really a big deal. And that’s something that we really have to realize.

Other Ethereum development

Buterin also talked about what’s next for Ethereum after fusion. According to him, the Surge, the next major update on Ethereum, will not be like the MeMergeIt will come in stages rather than one major event.

Buterin previously said that Ethereum would only be 55% complete after the merger.

The Ethereum Foundation said the Surge will implement sharding technology, dramatically increasing Ethereum’s transaction processing rate from 20 to around 100,000 per second.

Zcash eyes bigger role

Zooko spoke about the role of Zcash in the coming months, especially regarding privacy in the face of a repression authorities on Tornado Cash.

According to him, Zcash already has the technological layer and the culture of privacy, which will make the difference.

However, he disagreed with all of Buterin’s projections for Ethereum. For example, he was skeptical about the network’s privacy on its base layer five years from now.

“I don’t know if you’re right that (the attempt to) re-decentralize the block producer ecosystem is going to succeed,” he added. But Vitalik replied that time would tell.

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