Request Passage All, DOGE Builder Wants to Retreat!

<p>&nbsp;"What kind of alamak is the price of DOGE going to be impressed?"</p><p><br /></p><p>A prominent contributor and major builder of Dogecoin (DOGE), Mishaboar has expressed his desire to stay away from the biggest memecoin builder if the shift to a Proof-of-Stake (PoS) consensus goes forward.</p><p><br /></p><p>This is because PoS has various drawbacks that will advance from the main principles of DOGE and give the impression of the future of the memecoin after which it is expected to be difficult to use.</p><p><br /></p><p>Not only that, Mishaboar is also of the view that most of the digital asset stocks are held by crypto exchanges and the challenge of oversight is likely to arise as a result of this PoS approach.</p><p><br /></p><p>After confirming that PoS cannot provide any benefit to DOGE, Mishaboar suggested other solutions such as payment channels and integration with payment providers that could achieve the same result without the need for PoS.</p><p><br /></p><p><br /></p><p>If this refers to false "staking", based on lending then no. The risk is too high unless you are an insider (and even then…).</p><p><br /></p><p>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…</p><p><br /></p><p>— Mishaboar (@mishaboar) August 20, 2023</p><p><br /></p><p>It is generally known that PoS and Proof-of-Work (PoW) are the two main consensus mechanisms underpinning digital assets, where PoW is used by Bitcoin (BTC) including DOGE which relies on miners to authorize transactions and guarantee strings.</p><p><br /></p><p>While PoS also allows participants to authorize trades and create new blocks based on the amount of crypto currency they hold as collateral.</p><p><br /></p><p>It is undeniable that PoS has gained traction after having power efficiency and scalability potential, but it should be noted that it also faces a lot of criticism from various parties.</p><p><br /></p><p>At the time of writing, DOGE's price had fallen 0.49% to $0.06 in the last 24 hours with a market cap of $8 billion and has recorded a 14.36% decline over the past week.</p>