DailyNews
vip

Odaily Planet Daily News Dogecoin (DOGE) contributor and chief developer Mishaboar hinted in a reply to netizens on Twitter that if Dogecoin tries to transition to the PoS consensus, he may withdraw from the development of the project. He believes that the PoS mechanism is inherently flawed and may conflict with the core principles of Dogecoin.


Mishaboar noted that many PoS chains fell short of expectations, showed a tendency to centralize, failed catastrophically, or became unwieldy to use.
Additionally, Mishaboar highlighted potential difficulties with PoS mechanisms, as most of the token supply is held by cryptocurrency exchanges, as well as regulatory challenges that may arise.
He also said that the things that PoS is known for, such as energy efficiency and faster transactions, may not be important to Dogecoin’s specific use case. Other solutions such as payment channels and integrations with payment providers can achieve a similar effect without moving to PoS.
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Share
Comment
0/400
No comments
Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate app
Community
English
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)