Ethereum founder Vitalik Buterin said in his speech on Mainnet 2022 that Dogecoin should switch to proof-of-stake.
Buterin stated that the privacy-focused cryptocurrency Zcash should similarly switch to proof-of-work.
Vitalik Buterin Recommends Proof-of-Stake
Ethereum has recently been on the agenda of the cryptocurrency industry by switching from PoW to PoS with the Merge upgrade. This switch made by the network resulted in a 99% reduction in energy use.
Following the transition of Ethereum, Dogecoin became the second largest PoW cryptocurrency by market cap, after Bitcoin. However, the Dogecoin Foundation also confirmed that the meme coin is on its roadmap to transition to PoS.
Privacy-focused cryptocurrency Zcash has also started working to abandon the energy-intensive PoW.
In his speech at the event, Vitalik Buterin stated that the transition took place better than expected. According to him, Ethereum developers will now help the network become scalable. The Canadian software developer stated that this will be the most important agenda item in the next 18 months.
Buterin also stated that Ethereum developers are working to increase censorship resistance and improve privacy.
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