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After Ethereum, two more cryptocurrencies will abandon Proof of Work, Buterin says



Ethereum co-founder Vitalik Buterin has revealed which cryptocurrencies may soon migrate to the Proof of Stake (PoS) mechanism after the conclusion of the merger on the blockchain he helped create.

During his participation in the Mainnet 2022 event, the computer scientist. said that “all blockchains” should move to the PoS mechanism as the consensus mechanism matures.

In this sense, he bet on the cryptocurrencies zcash (ZEC) and dogecoin (DOGE) will “soon” switch to PoS. This, taking into account the fact that these chains operate with the mechanism of Proof of work (PoW), originating from Bitcoin. This consensus algorithm for transaction processing is a far cry from PoS In key areas, such as decentralization.

The transition of zcash and dogecoin to PoS has been planned for years. In the case of the former, there is already a roadmap defining the migration to this consensus mechanism. Even the creator of this cryptocurrency said in 2018 that he hoped Ethereum would make the move to PoS and then his project would go in that direction.

And in the case of the meme cryptocurrency, a migration to PoS is also estimated. This was expected to happen in 2022, according to its PATH MAP. However, there are only 14 Sundays left until the end of the year and the Dogecoin Foundation has yet to comment on the matter..

Vitalik Buterin participated in the Mainnet 2022 event held this weekend. Source: Messari.

Unite of Ethereum did not affect scalability.

As reported by CryptoNews on Sept. 15. has been activated finally the Unite on the Ethereum network, an event marked by anticipation, even though it was only a switch from one consensus mechanism to another, which did not represent any kind of impact on the scalability of the blockchain.

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In this sense, Buterin suggested during his participation in the event that. Scalability is a determining factor for a network to be considered a “mainstream technology” and usable.

In the past, the co-creator of Ethereum has ventured to clarify this, on that specific blockchain, the solution for scalability would be seen in the hand of second-tier solutions.such as Raiden, which is reminiscent of Bitcoin’s Lightning network.

Transaction fees may seem like just a number, but for the communities we want to have–outside of rich countries–the difference between $3 and 3 cents is significant. And that is something we have to respect.

Vitalik Buterin, co-creator of Ethereum.

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