Popular cryptocurrency blockchain Ethereum has completed its long-awaited switch to proof-of-stake. The proof-of-stake mechanism radically changes how the Ethereum blockchain works. It eliminates the need for mining new blocks as the network is now secured using staked ETH and validators.
Initially launched in 2013 as a joke, making fun of crypto crash, Dogecoin is currently the tenth-largest cryptocurrency, with a market capitalization of $7.95 billion. Like Bitcoin, Dogecoin is mined using proof of work, which means miners use computers, and a considerable amount of energy, to solve complex mathematical equations, validating transactions and receiving DOGE as a reward.
In recent years, Dogecoin has found itself an unlikely champion in the world’s richest person, Tesla founder Elon Musk, who has tweeted about the coin going back as far as 2019, and has caused the price of Dogecoin to pump on several occasions.
Read more about the merger here: ethereum.org/en/upgrades/merge.
