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Doge Developer Profers Alternative to Expensive Mining as Dogecoin Chooses PoW

Wed, 10/12/2022 - 14:43
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Tomiwabold Olajide
Developer pointed out fact that present ASICs are created for profit maximalism
Doge Developer Profers Alternative to Expensive Mining as Dogecoin Chooses PoW
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According to Dogecoin developer Patrick Lodder, the issue is not because the proof-of-work (PoW) consensus, which requires mining, is not environmentally friendly; rather, energy is the issue, and the cheapest energy is either dirty or a byproduct of another process that is only accessible to large organizations. The developer pointed out the fact that present ASICs are created for profit maximalism rather than eco-maximalism, which is the root of the problem of pollution caused by mining PoW coins. These ASICs also have massive power requirements.

He claims that ASICs with high buy-in barriers benefit the select few who can afford to spend. He recommends an alternative in the form of smaller ASICs, which consume just enough energy to be run on renewable sources and perhaps a battery.

However, the setback remains that no one is making them. Lodder believes that smaller ASICs can come into existence someday, as he discussed the idea of using "imperfect solar cells," but this is usually dumped by manufacturers "because they're not as aesthetically pleasing as the perfect ones."

According to CNBC, the Bitcoin mining software recently received its first upgrade since late 2012, and a group of businesses, including payments juggernaut Block (previously Square), is working to advance the open-source protocol so that it becomes an industry standard.

By supporting lower-quality internet connections and enhancing security, the change may make Bitcoin mining more accessible to more users and ensure that miners are fairly compensated for their efforts.

Dogecoin sticks to PoW

Dogecoin Core developer Chromatic X has debunked a recurrent notion that has persisted in Dogecoin development over the past two years that proof of stake may eventually replace proof of work.

Here's How Much Dogecoin Now Held by Robinhood: Details

He makes it clear that there are presently no firm intentions or suggestions to depart from the proof-of-work implementation used by Dogecoin. Currently, Dogecoin ranks as the second largest POW blockchain after Ethereum's transition to proof of stake.

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About the author

Tomiwabold is a cryptocurrency analyst and an experienced technical analyst. He pays close attention to cryptocurrency research, conducting comprehensive price analysis and exchanging predictions of estimated market trends. Tomiwabold earned his degree at the University of Lagos.