Meme-based cryptocurrency dogecoin PoW‘from PoS It will switch to the (Proof-of-Stake) model!
According to the officially confirmed news, the most important reason for this is that the POS has much more advantages over the POW model.
confirming the news Vitalic Buterinenoted that he helped the Dogecoin Foundation move the doge consensus method to PoS. Buterin also underlined that most major crypto assets are slowly turning to the POS model.
Thus Ethereum‘s ETH 2.0 update will also be an important bridge in the transition from PoW to PoS.
To recall, last year, the Dogecoin Foundation, the organization responsible for developing DOGE, stated that it relied on Buterin’s help to make the transition.
Buterin confirmed the news that he was involved in this project in a statement on the subject and stated that almost all cryptocurrencies will follow the same steps.
Dogecoin Proof-Of-Stake 🤷♀️ @VitalikButerin #dog pic.twitter.com/9sQ8nPfTtf
— Doge Dillionaire (@DogeDillionaire) February 3, 2022
PoS Advantage or Disadvantage?
There is still a lot of uncertainty about which model is better. While some experts vouch for the benefits of POS, names like Jack Dorsey believe this model is not secure enough.
However, the POS model is more environmentally friendly than PoW as it requires much less electricity. This is an important detail while the discussions about the environmental effects of Bitcoin mining are still ongoing.