In an unexpected turn of events, the well-known developer and contributor behind Dogecoin, Mishaboar, has said that he would leave the project if the cryptocurrency switches to a proof-of-stake (PoS) consensus process. When asked if he would stake Dogecoin if given the option, he revealed this in answer.
The developer’s attitude on a hypothetical PoS switch stems from his doubts about the effectiveness of the method. He voiced worries about the usability and dangers of PoS networks, drawing on his considerable engagement with Dogecoin during the previous two years. He emphasised the centralization problems, catastrophic failures, and legal difficulties that have dogged past PoS efforts. Mishaboar has questioned the viability of PoS given that a sizable amount of Dogecoin’s supply is owned by exchanges.
Dogecoin and PoS
While Vitalik Buterin’s idea in 2021 sparked humorous discussion on a consensus shift, the DOGE road map later made a PoS transition suggestion. However, over two years have gone by with little real progress being made in that direction. As can be observed, core DOGE developers’ attitudes seem cautious, indicating that a change may not be in the horizon.
Given his powerful position, Mishaboar’s impending departure may have a significant impact on the Dogecoin community. The developer’s concerns about PoS highlight important issues regarding Dogecoin’s future trajectory and the state of the larger crypto environment.
The Dogecoin community is still divided on the best course of action as the discussion about consensus methods rages on. The ambiguity around this crucial choice, whether the project will ultimately adopt PoS or stick to its proof-of-work roots, adds another level of complication to the already complicated world of digital money.
