Dogecoin Will Migrate to PoS Says Ethereum Founder Vitalik Buterin


Vitalik Buterin said he is helping the Dogecoin Foundation migrate the doge consensus method to PoS.

Ethereum co-founder Vitalik Buterin is the main driving force behind ETH 2.0 update.

The major update aims to migrate the second-largest crypto asset in the world from the current proof-of-work (PoW) model to proof of participation (PoS).

Last year the Dogecoin Foundation, the organization responsible for developing DOGE, had already reported that it was counting on Buterin’s help to make the migration.

POS model is better than the PoW, as it needs a much smaller amount of electricity to be realized.

There is a considerable debate going on about the environmental impacts of Bitcoin mining and the minting of NFTs on the Ethereum network.

DOGE continues in a strong downtrend despite the changes. Currently, the coin meme is trading at $0.14, 80% below its record price of $0.73.