• Thu. May 23rd, 2024

Dogecoin will Migrate to PoS with the Help of Vitalik Buterin

Hassan Mehmood

ByHassan Mehmood

Feb 18, 2022

The developers of the Dogecoin network have recently shared a new roadmap for the network first time. The new roadmap is directed towards increasing its utility to ensure higher adoption of the meme currency. The developers have added a new protocol initiative called the uniquely Doge proposal.

With the addition of this proposal, the network will be able to allow the smaller investors to participate in staking and earn interest. The proposal also has plans to share a considerable portion of the staking rewards for charity donations. According to the roadmap, most of the projects for the network will go live in the next year.

Vitalik Buterin, the co-founder of Ethereum, commented some time ago that Dogecoin could benefit from switching to the Proof-of-Stake consensus model. He explained that by making the shift, the PoW could also remain intact that awards 5 billion DOGE tokens to miners every year.

At the time, Buterin is working on taking Ethereum from PoW to PoS. However, he has also been invited by the Dogecoin developers to incorporate staking options on the meme currency network. As part of the new roadmap, Dogecoin is also going to get a new website next year.

The new roadmap is bringing so many novel features to the Dogecoin network. The developers are working with Starlink and radio to generate Doge-pegged nodes. The developers are also planning to launch a point-of-sale application on the Dogecoin blockchain with an unnamed layer-2 project.

Other projects that are highly anticipated among the investors are Libdogecoin and Gigawallet. Libdogecoin is a C library that provides written specifications for all Dogecoin standards. The new developers will be able to use the library to create compatible projects. Meanwhile, Gigawallet is an SDK that gives online merchants the option to add Dogecoin payments with an API patch. Due to the small per-unit cost of Dogecoin, its popularity among retail investors is visible.

Hassan Mehmood

Hassan Mehmood

Hassan Mehmood, a valued writer at Big Trends Signals, uses his profound online trading expertise to produce in-depth guides and unbiased reviews, enabling traders to navigate digital marketplaces efficiently.

Leave a Reply

Your email address will not be published. Required fields are marked *

Skip to content