Vitalik Buterin Hints at Zcash and Dogecoin Migration to Proof-of-Stake

As the Proof-of-Stake (PoS) consensus algorithm evolves, more networks will adopt it over Proof-of-Work. In particular, the mechanism could be implemented by Zcash and Dogecoin, Ethereum co-founder Vitalik Buterin said at the Mainnet conference.

Selkis: Should all networks move to PoS?

«I’d say should … as PoS matures I would expect it to increase in legitimacy over time. I hope @zcash moves over and I am hopeful @dogecoin moves to PoS soon,» — VB#mainnet2022

— Messari (@MessariCrypto) September 23, 2022

In response to Messari founder Ryan Selkis’s question about whether other projects would follow Ethereum’s lead, Buterin replied:

«I would say they should… As PoS matures I would expect its legitimacy to increase over time. I hope Zcash and Dogecoin move to PoS».

On September 15, 2022, Ethereum activated the Merge upgrade, which switched the blockchain to the Proof-of-Stake algorithm and reduced its energy consumption by 99%. The upgrade also laid the groundwork for the next phase of network development — The Surge. The latter, according to Buterin, will be ‘much less of a one-off event’.

Earlier, the Electric Coin Company unveiled a roadmap for Zcash development through 2025. The plan also envisions the network’s transition to PoS. Among the advantages cited by developers was a reduction in pressure on cryptocurrency prices.

The Dogecoin team also hinted at the possibility of migrating the project to PoS. In December 2021, the nonprofit Dogecoin Foundation said that, together with Buterin, it was working on a staking mechanism for the meme cryptocurrency.

At the same time, one of the leading developers, Ross Nicoll, said he would like to see PoS studied. He said that to do so, he would have to ‘convince a lot of people’.

As a reminder, in September 2022, the head of the SEC Gary Gensler indicated that PoS-based cryptocurrencies could be deemed securities.

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