Dogecoin Core Developer Opposes Move to Proof-of-Stake

Dogecoin core developer opposes Proof-of-Stake (PoS) amid community debates.
Mishaboar expresses concerns about centralization and regulatory issues with PoS.
Dogecoin’s future remains uncertain as debates over consensus mechanism continue.

Amid growing discussions about the future of Dogecoin (DOGE) and its consensus mechanism, a notable stance against Proof-of-Stake (PoS) has emerged from core developer Mishaboar.

If this refers to false “staking”, based on lending then no. The risk is too high unless you are an insider (and even then…).

If this refers to a remote possibility of Doge ever switching to PoS, after what I have seen over the past 2 years, i would probably then move to…
— Mishaboar (@mishaboar) August 20, 2023

This viewpoint comes in response to speculation regarding DOGE’s potential shift to PoS, sparked by a survey initiated by Metallicus CEO and FBBT Holdings Co-founder Marshall Hayner to gauge the community’s perspective on staking DOGE.

The survey results revealed a divided community, with 60.1% against staking and 39.9% in favor. However, Mishaboar’s opposition to PoS has ignited intense debates within the DOGE community.

Mishaboar expresses skepticism about PoS, He says if DOGE were to transition to PoS, he would likely shift to another Proof-of-Work (PoW) crypto and simply customize his wallet logo to include a dog.

Accordingly, he raised concerns about PoS chains being overly centralized. Not to mention, managed by wealthy developers with significant wallets, often leading to failures in other projects. Mishaboar also questioned the compatibility of PoS for Dogecoin, citing the substantial amount of DOGE held on exchanges and potential regulatory challenges.

Discussions about Dogecoin’s transition to PoS began in 2021, with Ethereum co-founder Vitalik Buterin playfully introducing the idea. However, despite ongoing debates, the implementation of PoS for Dogecoin remains a topic of discussion rather than a concrete plan.

Hayner, responding to Mishaboar’s critique, clarified the context of his survey, focusing on staking in the PoS consensus and block validation context.

Mishaboar’s stance and the potential implications of his departure from the project are significant due to his influential role in the Dogecoin ecosystem.

As debates continue over the ideal consensus mechanism for the meme-inspired cryptocurrency, uncertainties loom over its future.