{"id":548241,"date":"2023-08-21T16:00:03","date_gmt":"2023-08-21T16:00:03","guid":{"rendered":"https:\/\/shenyangcang.com\/?p=548241"},"modified":"2023-08-21T12:37:01","modified_gmt":"2023-08-21T12:37:01","slug":"dogecoin-proof-of-stake-discussion","status":"publish","type":"post","link":"https:\/\/shenyangcang.com\/news\/dogecoin\/dogecoin-proof-of-stake-discussion\/","title":{"rendered":"Dogecoin Proof Of Stake Discussion Heats Up As Lead Dev Chimes In"},"content":{"rendered":"

Dogecoin Lead Developer, Mishaboar has expressed his doubts about a possible move to a Proof of Stake (PoS) blockchain consensus. The developer has stated that the transition to a POS mechanism is not a \u201csensible approach\u201d and has highlighted several issues that could develop from the change.<\/span><\/p>\n

Mishaboar Objects To PoS Transition<\/h2>\n

Mishaboar<\/a> took to social media on August 20, to express his concerns about the potential impacts a PoS transformation could have on Dogecoin\u2019s network and decentralized nature. In a recent <\/span>Twitter post<\/span><\/a>, he staunchly refuted the transition and stated that if the conversion pulls through, he may leave Dogecoin for another cryptocurrency network with a PoW consensus.\u00a0<\/span><\/p>\n

Related Reading: Ethereum Whale Avoids Market Crash, Do They Know Something You Don\u2019t?<\/a><\/div>\n

\u201cIf this refers to a remote possibility of Doge ever switching to PoS, after what I have seen over the past 2 years, I would probably then move to another PoW crypto and customize the logo in my wallet to have a dog in it,\u201d Mishaboar commented in a Twitter post.\u00a0<\/span><\/p>\n

Mishaboar has highlighted the possibilities of power imbalances that could result from a PoS switch since a significant amount of a cryptocurrency\u2019s supply is controlled by exchanges.\u00a0<\/span><\/p>\n

He stated that the change to a PoS consensus<\/a> could increase the control and influence of exchanges over a network. The developer also pointed out that Dogecoin may face increased regulatory challenges with the transition.\u00a0<\/span><\/p>\n

Furthermore, Mishaboar explained that cryptocurrencies that have transitioned to a PoS consensus have been overhyped, with most falling short of expectations and failing considerably or becoming so centralized that it contradicts the foundational structure of cryptocurrencies which is in its decentralized system.\u00a0<\/span><\/p>\n

Mishaboar concludes that transitioning into a PoS consensus does not align with Dogecoin\u2019s futuristic goals and objectives. He mentioned that the benefits of a PoS consensus which is fast transactions can easily be achieved in the Dogecoin network with other solutions like integration of multiple payment channels<\/a>.<\/span><\/p>\n

\"Dogecoin<\/p>\n

DOGE price struggles to recover | Source: DOGEUSD on Tradingview.com<\/a><\/pre>\n
PoS Versus PoW Consensus For Dogecoin Ecosystem<\/h2>\n
The broader cryptocurrency community is presently at loggerheads on the merits of a PoS and PoW consensus and Mishaboar\u2019s rejection of a possible Dogecoin transition has sparked debates about the future of Dogecoin cryptocurrency among crypto enthusiasts.\u00a0<\/span><\/p>\n
Proof of Work (PoW) and Proof of Stake (POS) are two distinct blockchain consensus mechanisms used to validate transactions and improve the general performance of a blockchain network. And these two consensuses have their different advantages and disadvantages.\u00a0<\/span><\/p>\n
The advantages of a PoS are seen in its energy conservation and fast transactions. In contrast, a PoW consensus is considered more secure and more decentralized but is energy-intensive.\u00a0<\/span><\/p>\n
Related Reading: Elon Musk Shows Public Support For Pro-Crypto Presidential Candidate<\/a><\/div>\n
Some crypto investors <\/span>argue<\/span><\/a> that a PoS consensus would offer greater energy utilization and scalability. Whereas, others have sided with Mishaboar, <\/span>strongly refuting <\/span><\/a>the idea of centralization and security risks that follow a PoS transition.<\/span><\/p>\n
Mishaboar has been a prominent part of Dogecoin\u2019s development, yet recent statements made by the enigmatic figure have led to speculations about the impact his rejection of Dogecoin\u2019s possible PoS consensus could have on the project’s direction and development.<\/span><\/p>\n
Featured image from Unsplash, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"
Dogecoin Lead Developer, Mishaboar has expressed his doubts about a possible move to a Proof of Stake (PoS) blockchain consensus. The developer has stated that the transition to a POS mechanism is not a \u201csensible approach\u201d and has highlighted several issues that could develop from the change. Mishaboar Objects To PoS Transition Mishaboar took to social media on August 20, to express his concerns about the potential impacts a PoS transformation could have on Dogecoin\u2019s network and decentralized nature. In a recent Twitter post, he staunchly refuted the transition and stated that if the conversion pulls through, he may leave Dogecoin for another cryptocurrency network with a PoW consensus.\u00a0 Related Reading: Ethereum Whale Avoids Market Crash, Do They Know Something You Don\u2019t? \u201cIf this refers to a remote possibility of Doge ever switching to PoS, after what I have seen over the past 2 years, I would probably then move to another PoW crypto and customize the logo in my wallet to have a dog in it,\u201d Mishaboar commented in a Twitter post.\u00a0 Mishaboar has highlighted the possibilities of power imbalances that could result from a PoS switch since a significant amount of a cryptocurrency\u2019s supply is controlled by exchanges.\u00a0 He stated that the change to a PoS consensus could increase the control and influence of exchanges over a network. The developer also pointed out that Dogecoin may face increased regulatory challenges with the transition.\u00a0 Furthermore, Mishaboar explained that cryptocurrencies that have transitioned to a PoS consensus have been overhyped, with most falling short of expectations and failing considerably or becoming so centralized that it contradicts the foundational structure of cryptocurrencies which is in its decentralized system.\u00a0 Mishaboar concludes that transitioning into a PoS consensus does not align with Dogecoin\u2019s futuristic goals and objectives. He mentioned that the benefits of a PoS consensus which is fast transactions can easily be achieved in the Dogecoin network with other solutions like integration of multiple payment channels. DOGE price struggles to recover | Source: DOGEUSD on Tradingview.com PoS Versus PoW Consensus For Dogecoin Ecosystem The broader cryptocurrency community is presently at loggerheads on the merits of a PoS and PoW consensus and Mishaboar\u2019s rejection of a possible Dogecoin transition has sparked debates about the future of Dogecoin cryptocurrency among crypto enthusiasts.\u00a0 Proof of Work (PoW) and Proof of Stake (POS) are two distinct blockchain consensus mechanisms used to validate transactions and improve the general performance of a blockchain network. And these two consensuses have their different advantages and disadvantages.\u00a0 The advantages of a PoS are seen in its energy conservation and fast transactions. In contrast, a PoW consensus is considered more secure and more decentralized but is energy-intensive.\u00a0 Related Reading: Elon Musk Shows Public Support For Pro-Crypto Presidential Candidate Some crypto investors argue that a PoS consensus would offer greater energy utilization and scalability. Whereas, others have sided with Mishaboar, strongly refuting the idea of centralization and security risks that follow a PoS transition. Mishaboar has been a prominent part of Dogecoin\u2019s development, yet recent statements made by the enigmatic figure have led to speculations about the impact his rejection of Dogecoin\u2019s possible PoS consensus could have on the project’s direction and development. Featured image from Unsplash, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":548260,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[83685],"tags":[1785,89174,85675,7,89173,1803,3537,3538],"class_list":["post-548241","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-dogecoin","tag-doge","tag-doge-news","tag-doge-price","tag-dogecoin","tag-dogecoin-developer","tag-dogecoin-news","tag-proof-of-stake","tag-proof-of-work"],"acf":[],"yoast_head":"\nDogecoin Proof Of Stake Discussion Heats Up As Lead Dev Chimes In<\/title>\n<meta name=\"description\" content=\"Dogecoin Lead Developer, Mishaboar has expressed his doubts about a possible move to a Proof of Stake (PoS) blockchain consensus.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, 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Having witnessed the evolving landscape of the crypto world firsthand, Scott is able to dissect complex crypto topics and present them in an accessible and engaging manner. Scott's dedication to clarity and accuracy has made him an indispensable asset, helping to demystify the complex world of cryptocurrency for countless readers. Scott\u2019s experience spans a number of industries outside of crypto including banking and investment. He has brought his vast experience from these industries into crypto, which allows him to understand even the most complex topics and break them down in a way that is easy for readers from all works of life to understand. Scott\u2019s pieces have helped to break down cryptocurrency processes and how they work, as well as the underlying groundbreaking technology that makes them so important to everyday life. With years of experience in the crypto market, Scott began to focus on his true passion: writing. During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others. Scott\u2019s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott\u2019s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry. Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors. In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else. Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies. Scott stands steady in the frontlines of the crypto revolution and is committed to helping to shape a future that promotes the development of technology in an ethical manner that translates to the benefit of all in the society.","sameAs":["https:\/\/x.com\/https:\/\/twitter.com\/MathersonScott"],"url":"https:\/\/shenyangcang.com\/author\/mathersonscott1\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Dogecoin Proof Of Stake Discussion Heats Up As Lead Dev Chimes In","url":"http:\/\/shenyangcang.com\/news\/dogecoin\/dogecoin-proof-of-stake-discussion\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/shenyangcang.com\/news\/dogecoin\/dogecoin-proof-of-stake-discussion\/"},"thumbnailUrl":"https:\/\/shenyangcang.com\/wp-content\/uploads\/2023\/08\/kanchanara-r9dG85a7E_U-unsplash.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/shenyangcang.com\/wp-content\/uploads\/2023\/08\/kanchanara-r9dG85a7E_U-unsplash.jpg?fit=6048%2C4024"},"articleSection":"Dogecoin","author":[{"@type":"Person","name":"Scott Matherson"}],"creator":["Scott Matherson"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/shenyangcang.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["doge","doge news","doge price","dogecoin","dogecoin developer","dogecoin news","proof of stake","proof of work"],"dateCreated":"2023-08-21T16:00:03Z","datePublished":"2023-08-21T16:00:03Z","dateModified":"2023-08-21T16:00:03Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Dogecoin Proof Of Stake Discussion Heats Up As Lead Dev Chimes In\",\"url\":\"http:\\\/\\\/shenyangcang.com\\\/news\\\/dogecoin\\\/dogecoin-proof-of-stake-discussion\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/shenyangcang.com\\\/news\\\/dogecoin\\\/dogecoin-proof-of-stake-discussion\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/shenyangcang.com\\\/wp-content\\\/uploads\\\/2023\\\/08\\\/kanchanara-r9dG85a7E_U-unsplash.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/shenyangcang.com\\\/wp-content\\\/uploads\\\/2023\\\/08\\\/kanchanara-r9dG85a7E_U-unsplash.jpg?fit=6048%2C4024\"},\"articleSection\":\"Dogecoin\",\"author\":[{\"@type\":\"Person\",\"name\":\"Scott Matherson\"}],\"creator\":[\"Scott Matherson\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/shenyangcang.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"doge\",\"doge news\",\"doge price\",\"dogecoin\",\"dogecoin developer\",\"dogecoin news\",\"proof of stake\",\"proof of work\"],\"dateCreated\":\"2023-08-21T16:00:03Z\",\"datePublished\":\"2023-08-21T16:00:03Z\",\"dateModified\":\"2023-08-21T16:00:03Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/shenyangcang.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/shenyangcang.com\/wp-content\/uploads\/2023\/08\/kanchanara-r9dG85a7E_U-unsplash.jpg?fit=6048%2C4024","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/posts\/548241"}],"collection":[{"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/users\/594"}],"replies":[{"embeddable":true,"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/comments?post=548241"}],"version-history":[{"count":0,"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/posts\/548241\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/media\/548260"}],"wp:attachment":[{"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/media?parent=548241"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/categories?post=548241"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/tags?post=548241"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}