Ethereum co-founder wants major Dogecoin upgrade, says crypto asset can borrow code from ETH

[ad_1]

Ethereum co-founder Vitalik Buterin details some “promising ideas” that he would like to see implemented in Dogecoin.

In response to a question from Zhu Su, CEO of crypto hedge fund Three Arrows Capital, about what improvements he would like to see in Dogecoin, Buterin says he hopes the memecoin can move from proof of work to proof. stakeholder consensus mechanism (PoS), like Ethereum does.

Su asked the question after Buterin launched an Ask-Me-Anything on Twitter.

“Personally, I hope doge can switch to PoS soon, perhaps using the Ethereum code.”

The Ethereum co-founder also hopes Dogecoin remains an inflationary coin. Currently, only five billion Dogecoin can be mined each year.

According to Buterin, the new Dogecoin offering is expected to be stored in a Decentralized Autonomous Organization (DAO) that spends on global public goods.

“I also hope that they don’t cancel the annual $ 5 billion a year issue, but instead put it in some sort of DAO that funds global public goods. Would fit in well with the healthy, non-greedy ethic of Dogecoin.

In an answer to a question on monetary theory, Buterin says he “reflects on the long-term future of the UoA [unit of account] stability.”

Buterin says there is a “great chance” that Bitcoin (BTC) or Ethereum (ETH) will remain volatile even after cryptocurrencies have been widely adopted. Therefore, he says stable coins could be needed indefinitely.

“Some people think that stablecoins are purely transitional tech, and that post-hypercrypto BTC or ETH will be stable. I think there’s a good chance that this is wrong and even after hypercrypto would still need explicit stable coins.

Don’t Miss a Beat Subscribe to receive crypto email alerts straight to your inbox Follow us on Twitter, Facebook and Telegram Surf The Daily Hodl Mix Check the latest headline news Disclaimer: the opinions expressed in The Daily Hodl are not investment advice. Investors should do their due diligence before making high risk investments in Bitcoin, cryptocurrency, or digital assets. Please note that your transfers and transactions are at your own risk and that any loss you may suffer is your responsibility. The Daily Hodl does not recommend buying or selling cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in Affiliate Marketing.

Featured Image: Shutterstock / JoeyCheung / MrArtHit

[ad_2]