Dogecoin developers deny switch to Proof-of-Stake

The developers of dogecoin (DOGE) deny that the memecoin switches to Proof-of-Stake. There were rumors that a switch was in the works, but so far that’s just a proposal the developers are working on. There was some criticism of the possible switch to Proof-of-Stake, but that seems a bit premature.

Dogecoin will not switch without consensus

Dogecoin’s lead developer, Michi Lumin, says that the Dogecoin Foundation does not have absolute power within the protocol to make changes like this. For this, it ultimately needs consensus among the miners.

“It is not possible and it is also not in the planning of the organization to organize a switch to Proof-of-Stake. The only thing that can be done is to prepare the code and then give the community the opportunity to vote on it.”

Community criticism of a move to Proof-of-Stake has been fierce, fearing that it will reduce profits for so-called Scrypt Miners by 60 percent. In that respect, the switch from dogecoin to Proof-of-Stake seems a long way off at the moment and the ethereum (ETH) is not yet following suit.

Still questions

Although the team denies the possible move to Proof-of-Stake in all states, there are still some questions. The miners still have no idea what might await them if it does go ahead, but everything points to it being a storm in a teacup.

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What it does bring to the memecoin is attention, because news platforms do write about it. The question is whether the community is really waiting for it, because the commotion was considerable after the first rumors about the switch came out.

Dogecoin would distinguish itself from the rest of the memecoins, because almost all of them run on Proof-of-Work. In that respect, it may well throw up a ‘good for the climate’ narrative and hope that this has a positive effect on the price.

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