Dogecoin, ZCash Named as Potential Ethereum-Merge Followers by Vitalik Buterin

Under heat for being power-intensive, several popular blockchains including Bitcoin are being urged to adopt cleaner operations.

Dogecoin, ZCash Named as Potential Ethereum-Merge Followers by Vitalik Buterin

Photo Credit: YouTube/ TechCrunch

ZCash and Dogecoin creators have shown an inclination towards going green

Highlights
  • Ethereum’s Merge upgrade went live on September 15
  • Several PoW blockchains being urged to adopt energy efficiency
  • PoS blockchains can slash energy needs by over 99 percent

Vitalik Buterin, the co-founder of Ethereum believes that Dogecoin and ZCash could follow the popular cryptocurrency and go green. September marked a historic event in the blockchain industry, with Ethereum's long-awaited green upgrade, popularly known as the Merge. The recoding on the Ethereum blockchain from an energy-comsuming Proof-of-Work (PoW) mechanism to a Proof-of-Stake (PoS) model slashed its electricity consumption by 99.95 percent. Under heat for being power-intensive, several popular blockchains including Bitcoin are being urged to adopt cleaner operations.

“I'd say should ... as PoS matures I would expect it to increase in legitimacy over time. I hope @zcash moves over and I am hopeful @dogecoin moves to PoS soon," Messari crypto market intelligence firm quoted Buterin as saying in an interview.

The Dogecoin and ZCash cryptocurrencies, launched in December 2013 and October 2016 are based on the Litecoin and Bitcoin blockchains respectively.

Both of the blockchains use the energy-consuming PoW mechanisms. In order to become ecofriendly like Ethereum's Merge upgrade, these blockchains will need to be recoded into a PoS mechanism.

The PoW mining needs a competitive validation method to confirm transactions and add new blocks to the blockchain. Hence, the operations of PoW mining are costlier to maintain. Meanwhile, PoS mining operations use randomly selected miners to validate transactions, keeping the process running without the use of advanced computers.

Just one day after the Merge went live on September 15, Dogecoin emerged as the second-largest PoW cryptocurrency after Bitcoin. PoW cryptocurrencies Ethereum Classic (ETC), Litecoin (LTC), and Monero (XMR) follow BTC and DOGE on the third, fourth, and fifth ranks, respectively.

However, the idea of ZCash and Dogecoin going green is not a new one. As per a CryptoPotato report, developers of both Dogecoin and Zcash have reportedly expressed interest in the idea of transitioning to PoS.


Apple unveiled eight new products at its September 'Far Out' event. Which ones will float — and which will sink? We discuss this on Orbital, the Gadgets 360 podcast. Orbital is available on Spotify, Gaana, JioSaavn, Google Podcasts, Apple Podcasts, Amazon Music and wherever you get your podcasts.
Affiliate links may be automatically generated - see our ethics statement for details.
Comments

For the latest tech news and reviews, follow Gadgets 360 on Twitter, Facebook, and Google News. For the latest videos on gadgets and tech, subscribe to our YouTube channel.

Radhika Parashar
Radhika Parashar is a senior correspondent for Gadgets 360. She has been reporting on tech and telecom for the last three years now and will be focussing on writing about all things crypto. Besides this, she is a major sitcom nerd and often replies in Chandler Bing and Michael Scott references. For tips or queries you could reach out to her at RadhikaP@ndtv.com. More
Google Says Decade-Old Demand for Shared Network Costs by EU Telecom Operators is Bad for Consumers
Share on Facebook Tweet Snapchat Share Reddit Comment google-newsGoogle News

Advertisement

Follow Us

Advertisement

© Copyright Red Pixels Ventures Limited 2022. All rights reserved.