• EthereumFair, the first fork of the Ethereum blockchain, plans to establish a DAO and fork the Dogecoin network in response to the switch to the Proof-of-Stake consensus mechanism.
• The primary reason behind this proposed Dogecoin network fork is to ensure that the PoW consensus mechanism that the meme coin network currently operates does not change.
• The intended fork is expected to address the growing contradiction between a large number of retail investors and centralized investors in Dogecoin.
EthereumFair Plans To Fork Dogecoin
EthereumFair, the first fork of the Ethereum blockchain in response to its switch to the Proof-of-Stake (PoS) consensus mechanism, has announced plans to establish a DAO and fork the Dogecoin network. The primary goal of this proposed Dogecoin network fork is to ensure that it forever remains a PoW (Proof-of-Work) network, thereby safeguarding its original design from any changes due to external factors in future.
Motivation Behind Forking
The decision by Ethereum developers to switch from PoW consensus algorithm was met with resistance from miners who have been committedly maintaining its blockchain through PoW mining process. As such, a split faction of miners, including EthereumFair developers decided on forking Ethereum’s blockchain and preserving its original protocol. Additionally, this proposed fork will allow compatibility with Ethereum Virtual Machine (EVM), which has become an industry trend as well as separate Wright’s mining algorithm from Dogecoin and enable participation of Ethereum graphics card mining machines on it.
This planned fork intends to address growing clash between centralized and retail investors over Dogecoin operations. Moreover, post successful completion of this process, it will keep 1:1 ledger but make some alterations in its mining algorithm shifting Bitcoin series into Ethereum series while keeping PoW consensus intact.
In order for successful implementation of this project various stakeholders need their input prior finalizing its development processes. As such today we discussed same issue with #DogeCoin community while #ETHF technical team will help out with #DogeCoin’s Fork implementation .
It is hoped that with collective efforts from all parties involved in this project will eventually allow smooth transition without disrupting any existing protocols or causing any data loss during migration process towards new version ensuring preservation of original purpose for which it was built – decentralization & security along with continuous innovation opportunities for everyone involved