Dogecoin Foundation Teams Up With Vitalik Buterin For Community Staking
The two biggest influential people in the crypto space and the most influential person in the world are both huge supporters of Dogecoin.
Dogecoin foundation works with Vitalik on a community staking version of PoS
Vitalik Buterin has been on the Dogecoin board since August. One of the most influential people in Vitalik, actually on the side of Dogecoin, even more and joining up. But since then, there has been a game of patience. It has been a game of waiting because we have not had any major collaboration announcements.
The announcement of a DOGE ETH Bridge was something that’s come up before he joined the foundation. The Dogecoin devs are working with Vitalik Buterin on constructing proof-of-stake (PoS) capabilities for the Dogecoin network.
The “uniquely Doge proposal” is aimed at bolstering a “community staking” version of the protocol. PoS which stands for Proof of Stake is basically just rather than the typical mining that you see happening with cryptocurrencies.
Where you have a lot of computers around the globe at mine that’s proof of work and you have to approve the work in order to actually get the cryptocurrency. Vitalik is actually said, he would like to see Dogecoin switching to proof of work.
And to see that go from proof of work where we’re having the amount that’s mined 5 billion go to proof of stake. It could help Dogecoin with the price massively.