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Crypto: Ethereum Founder Expects Doge To Shift To PoS Model Soon

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Ethereum (ETH)  co-founder  Vitalik Buterin stated on Twitter Thursday that he expects  Dogecoin (DOGE) to switch to the Proof of Stake  (PoS) model soon  .

What happened

Buterin was responding to a question as part of  a Twitter experiment he’s conducting  in which he limited responses to just 268 of his followers.

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Singapore-based Three Arrows Capital co-founder  Su Zhu asked Buterin about the ETH-DOGE cooperation to which he replied: “Personally, I hope that DOGE will switch to the PoS model soon, perhaps using the code of Ethereum ”.

He added: “I also hope that they do not cancel the annual PoW issue of 5b / year, but put it in a kind of DAO that finances global public goods. It would fit in well with the healthy and non-greedy spirit of Dogecoin. “

Because it is important

Currently,   Dogecoin and Ethereum blockchains use the  Proof of Work  (PoW) model, which also uses the apex cryptocurrency  Bitcoin (BTC). Ethereum is scheduled to start using a  Proof of Stake (PoS) model  when Ethereum 2.0 goes live.

Last month, Buterin, Dogecoin co-founder  Billy Markus,  and  Jared Birchall , representative of  Telsa Inc (NASDAQ: TSLA) CEO  Elon Musk , became advisors to the Dogecoin Foundation .

Earlier in the summer, Buterin expressed that he loved DOGE and suggested creating a bridge between ETH and DOGE,  to  increase the transaction speed  of the cryptocurrency  meme .

Markus explained to Benzinga last month that Buterin’s contribution to the Dogecoin Foundation was of “great value” and that the  Ethereum co-founder was a “cryptocurrency genius.”

Price action

At the time of publishing this article, DOGE was trading 2.87% lower at $ 0.29 after a 24-hour tracking period. ETH was trading 0.58% higher at $ 3,780.50 after that same period.

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