Dogecoin developer denies plans to switch blockchain to Proof-of-Stake

Contrary to the views of some influencers, the Dogecoin team does not plan to transition the Proof-of-Stake consensus algorithm (PoS). This was stated by one of the leading developers, Michi Lumin.

More info for ya. Influencers, even if they have millions of views and followers, even if they speak with authority, do not actually have the inside scoop on what’s going on with #dogecoin. Just because one says a validation method is changing, doesn’t mean it is.

— Michi Lumin (@michilumin) December 29, 2022

“It is impossible, and not planned, for any single person, organisation or body to ‘move’, ‘transfer’ or ‘change’ Dogecoin to PoS. All that can be done is to sketch outlines, perhaps implement in code, and hand it to the community for further decision,” the programmer wrote.

In September, Ethereum co-founder Vitalik Buterin at the Mainnet conference allowed the migration of Dogecoin to the PoS algorithm as the mechanism evolves. In October, Cardano founder Charles Hoskinson proposed moving the meme cryptocurrency into the ecosystem of his project.

According to Lumin, one should consider how changes unfold in blockchains like Dogecoin, which is closer to Bitcoin technology than to the more modern EVM-networks.

He acknowledged that the team has an idea to propose a discussion of a potential change to the consensus mechanism. However, implementing such solutions is possible only with broad user support.

“If and when the proposal becomes a reality, there will be a lot of discussion in the community before all subsequent steps. … A sudden and forced ‘move’ to PoS is not possible for Dogecoin, which operates on a consensus basis. That has always been and will continue to be,” he stressed.

In September, after the Ethereum The Merge update, Dogecoin became the second-largest cryptocurrency by market capitalization on the Proof-of-Work algorithm. With a market cap of $9.4 billion, the coin nearly doubles Litecoin, though it lags far behind Bitcoin.

In July, the developers released a new version of the Dogecoin client. The release is intended to improve the security and efficiency of the network, and to enhance the user interface.

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