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- Dogecoin, the most popular meme token on the crypto-market, appears to have gained a new supporter in the form of Ethereum’s Vitalik Buterin
- In an AMA session on Twitter, Zhu Su, the billionaire and CEO of Three Arrows Capital, asked the executive the same question
- However, it’s worth mentioning that there’s a rationale behind these remarks. The Dogecoin Foundation just hired Ethereum’s co-founder as a blockchain and crypto advisor
Dogecoin, the most popular meme token on the crypto-market, appears to have gained a new supporter in the form of Ethereum’s Vitalik Buterin. However, this isn’t an interest that arose out of nowhere as a result of the DOGE hoopla, in his opinion. In reality, Buterin made a $25,000 investment in DOGE in 2016. Thanks to Elon Musk’s tweets, he generated more than $4 million in earnings over the next several years.
Fast forward to today, and Ethereum’s CEO has made the following recommendation for a possible ETH and DOGE cooperation. It does, however, come with some restrictions or rather, obligations.
In an AMA session on Twitter, Zhu Su, the billionaire and CEO of Three Arrows Capital, asked the executive the same question. According to Ethereum’s co-founder, DOGE should convert to PoS as soon as possible, maybe utilising Ethereum technology. He continued by saying that they don’t discontinue the yearly PoW issue of $5 billion, but instead put it into a DAO that finances global public goods. Would suit nicely with dogecoin’s non-greedy healthy ethos.
These are intriguing remarks, as they imply Buterin is taking Dogecoin very seriously. That is important for a cryptocurrency that has been mocked as a joke and a meme. Now, more than ever, especially with the likes of Elon Musk and others in the DOGE community taking the development front seriously.
However, it’s worth mentioning that there’s a rationale behind these remarks. The Dogecoin Foundation just hired Ethereum’s co-founder as a blockchain and crypto advisor.
His background and exposure are likely to aid the popular meme cryptocurrency’s transformation into a more useful alternative. Dmitry Buterin, in a tweet shortly after, echoed this sentiment. Buterin also discussed the technological challenges that have stopped DOGE from becoming one of the world’s most popular cryptos in a recent podcast. The difficulty is the tradeoffs with centralization and the constraints to scalability, he added.
Anurag is working as a fundamental writer for The Coin Republic since 2021. He likes to exercise his curious muscles and research deep into a topic. Though he covers various aspects of the crypto industry, he is quite passionate about the Web3, NFTs, Gaming, and Metaverse, and envisions them as the future of the (digital) economy. A reader & writer at heart, he calls himself an “average guitar player” and a fun footballer.
