Ethereum co-founder Vitalik Buterin hopes Dogecoin (DOGE) will move to a proof-of-stake consensus mechanism using Ethereum code for the transition. He made his suggestion in a recent AMA session on Twitter.
In a recent AMA session conducted by Vitalik Buterin for the 268 people he follows, the co-founder of Ethereum wanted to answer questions "anything crypto or non-crypto related".
Among the questions put forward to him was from the CEO of Three Arrows Capital, Zhu Su, asking about the promising Ethereum/Dogecoin co-operation in the future:
“What are some promising ideas for Ethereum / Doge cooperation? What was it about Doge that got you interested in the project?”
“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.”
Earlier last month, the non-profit Dogecoin Foundation announced its relaunch. Among the newly named advisory staff include Tesla CEO Elon Musk and Ethereum co-founder Vitalik Buterin.
Currently, both Dogecoin and Ethereum use a proof-of-work consensus mechanism to validate new blocks via mining. With Ethereum 2.0, the Ethereum network will transition to a proof-of-stake consensus mechanism using Ethereum staking.
The world’s second largest cryptocurrency Ethereum (ETH) has put a strong mark in the current market bull run. In the past 24 hours, ETH has been up 1.4%, and currently trading at $3,812 at the time of writing.
The digital asset has been up by over 22% over the past week. Data from on-chain analysis firm Santiment reported that ETH price has moved over $3500 levels for the first time since May. Besides, the ETH accumulation among non-exchange whales has also spiked up recently.