Ethereum co-founder Vitalik Buterin said that meme coin Dogecoin should switch to proof-of-stake during his virtual appearance at Mainnet 2022, a cryptocurrency summit hosted by cryptocurrency analytics firm Messari.
Buterin believes that privacy coin Zcash should also transition away from proof-of-work.
As reported by U.Today, Ethereum switched to proof-of-stake on Sept. 15 after going through the Merge event. The upgrade has made it possible to dramatically reduce the blockchain’s carbon footprint.
Dogecoin became the second-largest proof-of-work cryptocurrency (behind only Bitcoin). However, the Dogecoin Foundation confirmed that transitioning to proof-of-stake would be part of the meme coin’s roadmap. Earlier this year, Buterin confirmed that he was helping Dogecoin to switch to proof-of-stake.
As for Zcash, the leading privacy coin is also on track to ditch the energy-guzzling proof-of-work consensus algorithm.
Scaling and privacy
During the summit, Buterin noted that the transition had gone better than expected. The community of Ethereum developers will now be focused on making the second-largest blockchain more scalable. The Canadian programmer defined scalability as the most important issue for the following 18 months, adding that this is something that the ecosystem has to “deliver on.”
Alex DovbnyaButerin also said that Ethereum developers were working on improving censorship resistance and privacy.
Arman Shirinyan
Vladislav Sopov
Dan Burgin
U.Today Editorial Team