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Innovation is important for brands to continue, and the Ethereum Merge is one of the best examples to highlight this.
The Merge is an update of the Ethereum blockchain and its innovation has taken the crypto space in a new direction.
Vitalik Buterin, the co-founder of Ethereum, believes other blockchains should look to scale and also move to proof-of-stake.
Encouraging other blockchains
Now that the Ethereum Merge is complete, Buterin believes other blockchains, including Dogecoin and Zcash, should follow a similar step.
Speaking on video at the Messari Mainnet conference on Friday, he said:
“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.”
In early September, Ethereum finally held the long-awaited Merge event.
The Merge shifted the core network 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 went smoothly, although errors were encountered with each testnet merge.
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 is best known for his link to the PoW Zcash privacy coin and shared that he initially thought the Ethereum Merge would never work.
However, his feelings changed.
“You should be proud of yourselves for the rest of your life,” Zooko said, referring to Butern and the Ethereum developers.
The Electric Coin Company CEO said he’s waiting to see how Ethereum performs since the upgrade to see if Zcash should stage 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.”
Buterin and the leap to PoS
As for other chains making the leap to proof-of-stake, Vitalik Buterin is willing to wait, but he believes some will make the move.
“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.”
At the moment, the co-founder of Ethereum is relieved with the state of Ethereum and says it will be in a better position after the Merge.
“A sky that has been cloudy for almost a decade finally cleared,” he described.
Ethereum’s Vitalik Buterin ‘very hopeful’ Dogecoin moves to Proof of Stake