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Vitalik Buterin Expects Dogecoin and Zcash Move From PoW to PoS

Cryptocurrency Sep 24, 2022 05:00AM ET
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Vitalik Buterin Expects Dogecoin and Zcash Move From PoW to PoS
 
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  • Ethereum co-founder expressed his expectation of Dogecoin and Zcash’s transition.
  • Like Ethereum Merge, the transition would change the PoW to PoS mechanism.
  • Both Dogecoin and Zcash are assured about the success of the transition.

After the successful transition of Ethereum from proof-of-work to proof-of-stake consensus mechanism, Ethereum’s co-founder Vitalik Buterin shared his concern about the transition of other blockchains including Dogecoin and Zcash.

During the Mainnet Conference on September 23, he told that he expect that Dogecoin and Zcash would also undergo the PoS transformation:

As proof of stake matures, I expect it to just increase in legitimacy more and more over time,(…). “I hope that Zcash moves over. I am also very hopeful that Dogecoin is going to evolve over to proof of stake at some point soon

On September 15, Ethereum executed its much-anticipated Merge, which went very smoothly. The merge was meant to transition from the energy-intensive proof-of-work to the energy-efficient proof-of-stake model.

At the conference, Buterin conversed with Ryan Selkis, the CEO of Messari, and Zooko Wilcox-O’Hearn, the CEO of Electric Coin Company. During the conversation, Wilcox-O’Hearn told that initially, he wasn’t assured about the Merge, but he was amazed after the execution of the merge:

This is so exciting. And it’ll never work…And then you and your Ethereum [developers] proved me wrong. It totally worked

Zooko also expressed his ecstasy in the good results of the Merge. He too wasn’t sure about the success of the transformation when he heard of it for the first time. But later, after the completion of the merge, the result was beyond his expectations.

Zooko told Buterin and his co-workers that “you should be proud of yourselves for the rest of your life”.

Interestingly, when Buterin asked Zooko if they would like to have the transition, he replied that he had been waiting to know what they could learn from the Ethereum Merge and they realized that it worked well.

While talking about the other blockchains, Buterin expressed his incertitude in the successful transition of all the other blockchains. But he believes that at least some of the blockchains would have a significant upgrade.

The post Vitalik Buterin Expects Dogecoin and Zcash Move From PoW to PoS appeared first on Coin Edition.

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Vitalik Buterin Expects Dogecoin and Zcash Move From PoW to PoS
 

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