Key Takeaways:
- Vitalik Buterin, a co-founder of Ethereum, expressed optimism that Dogecoin and Zcash would migrate to PoS.
- Both Dogecoin and Zcash are certain that the switch will go smoothly.
According to Vitalik Buterin, co-founder of Ethereum ($ETH), Zcash and Dogecoin will eventually transition to a proof-of-stake consensus style.
On September 15, around 7:00 a.m. UTC, Ethereum’s Merge upgrade was finished, and as a result, the Ethereum network is now exclusively adopting proof-of-stake (PoS) consensus.
When Ryan Selkis questioned Buterin at Messari Mainnet 2022 on whether all networks should switch to PoS, Buterin responded in the negative. Zooko Wilcox-O’Hearn, the founder of Zcash, was also present at the occasion. Buterin is not the first to urge Zcash to switch to Proof of Stake.
In 2018, when he made the same claim, Zooko retorted that he was waiting for Ethereum to make the move first so he could observe what went wrong.
In light of Tornado Cash‘s impending government crackdown, Zooko discussed the role Zcash will play in the upcoming months, particularly with regard to privacy.
He claims that Zcash already has the technological foundation and privacy-conscious culture that will be important.
Interestingly, Zooko said that he had been waiting to hear what they might learn from the Ethereum Merge and that they understood that it went well when Buterin asked if they would like to do the transition.
Buterin stated his doubt about the other blockchains’ ability to migrate successfully while discussing them. He does, however, think that at least some of the blockchains would experience a considerable upgrade.
After years of study and development, Ethereum underwent The Merge on September 15—a much-expected update that changed its consensus method from proof of work to proof of stake.Â
The Ethereum Foundation reports that the switch to proof-of-stake resulted in a 99.9% decrease in energy consumption, which will significantly lessen the carbon footprint of the blockchain.
The developers of Zcash and Dogecoin have already shown interest in switching to proof of stake in separate announcements, which is in accordance with Buterin’s predictions.
The Surge won’t happen all at once as The Merge did. The process will happen in stages, according to Vitalik Buterin. He also emphasizes that if you want to wager against a hundred or so really smart people, you could use his fabricated time machine to travel back to the period before the Merge.
