Vitalik Buterin Wishes DOGE to Shift to Proof-of-Stake with the Utilization of Ethereum Code

At present, the network of Ethereum has effectively accomplished the Merge upgrade and shifted to proof-of-stake (PoS) consensus. This step has been taken by the network while considering that the PoS is a more eco-friendly substitutive as compared with the proof-of-work. In this way, the Ethereum co-founder (Vitalik Buterin) has for another time spoken his idea that Dogecoin should additionally have a PoS transition.

Vitalik Buterin Suggests Dogecoin Should Come to PoS Consensus

While appearing at Mainnet 2022 (which was an event conducted by Messaari) Ethereum co-founder (Vitalik Buterin) elaborated on a few of the achievements of the Merge upgrade as well as pointed out that the shift from PoW to PoS signifies that the blockchain of Ethereum no longer drains a high amount of energy unlike previously. The security of Ethereum has not remained dependent on the miners-related hash rate. The network’s security is presently reliant on ETH’s price.

Thus, if someone has an intention to harm Ethereum, there is a requirement to have control over up to fifty percent of the ETH tokens which have been staked. It is highly improbable that just one entity could reach that high amount because of the enormous fees related to such type of activity. The latest data issued by Nansen shows that nearly sixty-four percent proportion of Ethereum is presently managed on the behalf of 5 platforms.

Dogecoin Keeps on Recovering Its Price

Throughout a couple of previous days, DOGE’s price has witnessed a recovery of more than ten percent during the previous twenty-four hours. At the moment, the DOGE token is trading between the figures of $0.066 and $0.068. While looking at a broader canvas, the token is even now down to a great extent however it has maintained its position above the normal downfall estimated by several analysts.

This characteristic of the meme coin has classified it among the best-performing digital assets across the industry of cryptocurrency since the previous bull run. The price of Dogecoin has been witnessing a decline during the previous thirty days. Nonetheless, in the former week, it has seen a substantially resilient in moving upward. Even though the DOGE token’s price is posing to be robust in terms of a short period, its overall market capitalization should also be taken into consideration which is presently standing at nine billion dollars.