Home Business Ethereum Dogecoin’s Vitalik Buterin “Very Hopeful” Moves to Proof-of-Stake

Ethereum Dogecoin’s Vitalik Buterin “Very Hopeful” Moves to Proof-of-Stake

Ethereum Dogecoin’s Vitalik Buterin “Very Hopeful” Moves to Proof-of-Stake

Now that the Ethereum merge is completedVitalik Buterin thinks that other blockchains like Dogecoin and Zcash should follow suit.

“As the evidence of the stake matures, I expect its legitimacy to increase more and more over time,” Vitalik said via video chat at the Messari Mainnet conference on Friday.

“I hope Zcash will move on. I also hope Dogecoin will move towards proof-of-stake soon,” he added.

Earlier this month, Ethereum executed its long-awaited launch merge eventmoving its main network from the energy-intensive network proof of work (PoW) to the most energy-efficient model proof of stake model (point of sale).

The high-stakes event went smoothly, Buterin said, although each testnet merge experienced “some kind of bug”.

Zcash could join Dogecoin, Ethereum

At Mainnet, Buterin spoke with Messari CEO Ryan Selkis and Electric Coin Company CEO Zooko Wilcox-O’Hearn (Electric Coin Company is leading the development of Zcash).

“You emailed me your blueprint for Ethereum, and I was like, ‘Holy shit. This is so exciting. And it’s never gonna work,’ Wilcox-O’Hearn said. and Ethereum [developers] proved me wrong. It totally worked.

Zooko, who is best known for his connection to PoW privacy coin Zcash, also believed that the Ethereum merger “would never work”.

But now he sings a different tune.

“You should be proud of yourself for the rest of your life,” Zooko said, referring to Ethereum developers and Buterin.

When asked if Zcash would run its own merger-like event, the CEO of Electric Coin Company said he was waiting to see how Ethereum performs since the upgrade.

“We were literally waiting to see what we can learn from Ethereum,” Zooko said. “I guess what we’ve learned is that it actually works.”

Proof of Stake Season

But what does Buterin think of blockchains other than Zcash and Doge making the leap to PoS?

“For the other channels, we’ll see,” he said. “Some of them might; I’m sure at least some of them never will. There might even be a middle ground where some strings end up moving to some sort of hybrid proof-of-stake.

But for now, Buterin is just relieved about the state of Ethereum, which he says is now in a much better position post-merger.

“A sky that had been cloudy for nearly a decade has finally cleared,” he added.

Stay up to date with crypto news, get daily updates in your inbox.


Please enter your comment!
Please enter your name here