DOGE core developer dispels claims of Dogecoin's switch to POS DogeFarm $DOGE
The"proof of stake" consensus mechanism relies on staking, while the"proof of work" mechanism that Dogecoin utilizes relies on mining. Dogecoin now ranks as the second largest POW chain after Bitcoin.
She adds that it might be pertinent to understand how changes work on a blockchain like Dogecoin, which is closer to older Bitcoin technology than modern ERC20 tokens.According to Lumin, Dogecoin operates on"consensus," so moving Dogecoin to proof of stake was not possible, nor could an individual or entity plan to do so."A sudden and forced 'move' to PoS is not possible for Dogecoin," she wrote.
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