Crypto NewsDogecoin (DOGE)

Dogecoin Foundation partners with Vitalik Buterin to build community staking

                                                            Die Dogecoin Foundation, eine gemeinnützige Organisation, die sich dem Wachstum der beliebten meme-inspirierten Cryptowährung Dogecoin (DOGE) widmet, hat sich mit dem Gründer von . zusammengetan Ethereum, Vitalik Buterin.  Die Idee ist, ein „Community Staking“-System zu entwerfen, das auf dem Proof-of-Stake (PoS)-Konsensmechanismus basiert.

This happens months after the foundation is on the Bitcoin ESG conference earlier this year announced that it is moving Dogecoin from Proof-of-Work to Proof-of-Stake.

What is community staking?

According to the Dogecoin Trailmap, Community Staking is a version of PoS that allows all community members, not just whales, to earn rewards for their participation and contribution to the Dogecoin ecosystem. Additionally, users can give back to the entire community through charitable causes.

The foundation also works with other projects, including Gigawallet, a PoSWalletProject, and Libdogecoin, a Javascript library for Dogecoin.

According to the latest update, community staking is already in the testing phase with support from integrators who have shown interest.

“In the next few months the Libdogecoin and GigaWallet projects will take shape and we have some early integrators interested in using them in their projects. These early projects are about laying a solid foundation while upcoming projects are aimed at improving transaction throughput and size, ”the foundation wrote.

Change from PoW to PoS

Dogecoin was originally developed as a PoW cryptocurrency like Bitcoin. Recently, however, there have been many energy efficiency arguments about PoW projects. Keep in mind that even Elon Musk’s Tesla stopped accepting BTC payments on its products earlier this year for environmental reasons.

Dogecoin isn’t the only project planning to switch to PoS in the next year, however. Ethereum’s move to the PoS is long in the pipeline and will play a big role in the Ethereum 2.0 upgrade in 2022.

In October, Crypto potato reports that the first network upgrade on the Ethereum PoW called Altair has been successfully implemented.

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Source: Crypto News Deutsch

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