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Innovation is important for the success of brands in the tech space, and Ethereum Merge is one of the best examples to highlight such progress.
The Merge is an update of the Ethereum blockchain, and its innovation will bring the crypto space in a new direction.
Vitalik Buterin, the co-founder of Ethereum, believes that other blockchains are scaled and should also move to proof of stake.
Hoping other blockchains will follow
With the Ethereum fusion now finished, Buttrin believes that other blockchains, including Dogecoin and Zcash, should follow a similar step.
He said on video at the Messari-Mainnet conference on Friday:
“As proof of stake matures, I expect it to just increase in legitimacy more and more over time.”
“I hope that Zcash moves over. I am also very hopeful that Dogecoin is going to evolve over to proof of stake at some point soon.”
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The Merge
In early September, Ethereum finally hosted the highly anticipated Merge event.
The Merge moved the core grid from the energy-intensive Proof-of-Work (PoW) model to the more energy-efficient Proof-of-Stake (PoS) model.
According to Buterin, the high-stakes event ran smoothly, although there were bugs in every Merge test.
The Mainnet Conference
During the Mainnet Conference, Buterin spoke with Messari CEO Ryan Selkis and Electric Coin Company CEO Zooko Wilcox-O’Hearn.
“You emailed me your plan for Ethereum, and I was like, ‘Holy shit. This is so exciting. And it’ll never work,’” said Wilcox-O’Hearn.
“And then you and the Ethereum [developers] proved me wrong. It totally worked.”
Zooko, best known for his association with the PoW Zcash privacy coin, shared that he initially thought the Ethereum Merge would never work.
Later, however, his feelings about the Merge changed.
“You should be proud of yourselves for the rest of your life,” Zooko said, referring to Buterin and Ethereum developers.
The CEO of Electric Coin Company said he is waiting to see how Ethereum has fared since the upgrade to see if Zcash should hold its own Merge-like event.
“We’ve literally been waiting to see what we can learn from Ethereum,” said Zooko.
“I guess what we’ve learned is that it actually works.”
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Buterin and the transition to PoS
As for other channels making the leap to proof-of-stake, Vitalik Buterin is willing to wait, but he thinks some will.
“For the other chains, we’ll see,” he said. “Some of them might; I’m sure at least some of them never will.”
“There might even be some compromise middle ground where some chains end up moving to some kind of hybrid proof of stake.”
The Ethereum co-founder is relieved of the company’s status for now and says it will be better positioned after the Merge.
“A sky that has been cloudy for almost a decade finally cleared,” he described the Merge.
Reference:
Ethereum’s Vitalik Buterin ‘very hopeful’ Dogecoin moves to Proof of Stake
