• The developers of Dogecoin have denied rumors that the network is immediately switching to proof-of-stake (PoS).
• Michi Lumin, principal engineer for the Dogecoin Foundation, stated that the Dogecoin Foundation does not have the power to upgrade the network without the consent of validators.
• The denial comes after the Rabid Mining YouTube channel published a video on the topic.
The Dogecoin community recently had a scare when a rumor circulated that the team was planning to switch to proof-of-stake (PoS) immediately, killing off scrypt miners. However, the developers have denied the rumor, saying that they are merely planning to release a proposal on the topic.
Michi Lumin, principal engineer for the Dogecoin Foundation, clarified that the Dogecoin Foundation does not have the power to upgrade the network without the consent of validators. He said, “It is not possible for, nor is it planned for, an individual, organization, or body to ‘move’ or ‘shift’ or ‘change’ #dogecoin to PoS. All that can be done is: it can be outlined, perhaps coded, and given to the community (and validators) to decide to take up or not… the repeated sensationalist (to get views/follows) refrain of people saying that #dogecoin ‘is moving to PoS’ is ridiculous, and absolutely not how it works or can work. It will not and can not be done by edict, or force…”
The denial comes after the Rabid Mining YouTube channel published a video on Dec. 28 titled “What if Dogecoin Moves to PoS?” It was shared on Twitter and Reddit with much speculation. However, the Dogecoin developers have now made it clear that such a move is not imminent. For now, the team is focused on releasing a proposal that outlines the potential switch to PoS, but the decision is ultimately up to the validators.