By George Ward
Michi Lumin —- Dogecoin’s core developer, came on Twitter to debunk fake rumors which claim that Dogecoin is transitioning to PoS (proof-of-stake). The gossip may have skyrocketed due to Vitalik Buterin — the Ethereum co-founder comments.
Following the Ethereum Merge this year, Buterin shared his hopes of wanting other blockchains like Zcash and Dogecoin to transition to proof of stake. The PoS (proof of stake) consensus, which Ethereum now uses, centers on staking, while the PoW (proof of work) consensus mechanism, which Dogecoin uses, centers on mining.
Interestingly, Dogecoin is the next significant PoW chain after BTC. As reported by the DOGE core developer, many big crypto influencers may not know what goes on in Dogecoin.
She further says it is essential to understand what change looks like in blockchains such as Dogecoin, which is farther from ERC20 tokens but closer to Bitcoin technology.
The Dogecoin Community May Not Be Open To the Transition
Lumin claims that Dogecoin works on ‘consensus”, so it may be impossible for any individual or entity to move Dogecoin to PoS. She says, “An unplanned and forced transition to proof of stake is impossible for Dogecoin.”
However, a way out could be for someone to create a proposal and present it to the validators and community, who will decide whether they want to move forward with the idea.
She also debunks the rumors that there is no current plan to transition Dogecoin to PoS. She said, “No, we don’t have any plan to shift Dogecoin to proof of stake.”
At the same time, she hinted that it is possible to create a proposal concerning the matter and present it to the community for review. Furthermore, Lumin claims that the community might not approve of the proposal and may treat it with hostility.
She adds that it will only remain a proposal until they get more comprehensive approval.
Dogecoin Gift Cards
Self-custodial DOGE wallet MyDoge Wallet announced on Twitter that it had added an extra feature solely for Dogecoin holders. With the new feature, users can get gift cards through DOGE.
You can get the feature when downloading the recent update — v1.6.0 on any Android or iOS smartphone. Moreover, consumers can buy gift cards such as but not limited to iTunes and Amazon using Dogecoin.
Furthermore, users of MyDoge Wallet can earn rewards in DOGE after shopping on some eCommerce and marketplace stores via their wallets. The new feature can be accessed through the “shop” category, where the accessible brands are displayed. The brands are displayed per user’s location.