Now that Ethereum has successfully completed its merge and transitioned to proof of stake and it has been shown that a transition from proof of work to the “greener” alternative is possible, Vitalik has once again voiced his beliefs that Dogecoin ought to also make the transition.
Vitalik wants DOGE to move to proof of stake
During a virtual appearance at Mainnet 2022, an event hosted by Messari, Vitalik explained some of the successes of the Ethereum merge, and once again highlighted that the transition from proof of work to proof stake means that Ethereum, as a blockchain, no longer consumes nearly as much energy as it did before.
Ethereum’s security is no longer contingent on hash rate from miners. Ethereum’s security is now dependent on the price of ETH: if someone wants to damage the network, they must control over 50% of the staked ETH.
It is extremely unlikely that a single entity will be able to do this given the high costs of such an exercise, but according to new data from Nansen, 64% of staked Ethereum is currently controlled by five entities.
Dogecoin has been making a recovery
Over the last couple of days, the price of DOGE has recovered somewhat with the price having risen over 10% in the last 24 hours.
The price of DOGE has now eclipsed the $0.066, and even wicked as high as $0.068.
In a longer-term context, DOGE is still down significantly from its all-time highs, but not nearly as much as many analysts would have expected for the meme coin, which was one of the best-performing assets throughout the entirety of the last bull market.
The price is still down over the last 30 days, but the last week has been extremely positive, and the rally has been strong.
TAMA has potential for far better returns
After having successfully raised an impressive $19m at the Tamadoge presale, the Tamadoge community is extremely bullish on the future of the project and the team is extremely well-resourced to realise their vision.
Despite the price of DOGE appearing strong in the short term, one must contextualise this growth with the relative size of the Dogecoin market cap, which already stands at almost $9 billion.
It is therefore highly unlikely that Dogecoin will replicate its success in the next bull market and achieve another 100x, since this would mean that Dogecoin would be larger in market cap than most of the largest and most established companies in the world.
However, it is quite possible that Tamadoge, whose market cap is relatively low, could hope to achieve similar sorts of gains.
Unlike Dogecoin, the Tamadoge product offering is replete with a variety of features that aren’t seen in another puppy-themed project, including a metaverse, pet shop, play to earn gaming, and artificial reality integration.
TAMA will be listing on OKX and OKX Dex
Those who participated in the Tamadoge presale ought to be able to claim their tokens by following the instructions that were issued.
Investors will be able to claim their tokens at 8:00 BST on Tuesday the 27th September.
Shortly after this, at 11:00, TAMA will begin trading on OKX exchange, one of the largest and most established tier one exchanges in the industry, with a high degree of liquidity and a lot of users.
The exchange regularly handles volumes of over $2 billion per day, and the listing is expected to do wonders for the Tamadoge community as they hope to onboard more members and expand.
Since OKX is not available for users in all jurisdictions, TAMA will also be listing on the OKX Dex, which is a decentralised exchange that can be accessed by anyone in the world without completing KYC or AML checks. This listing will occur a few hours after the OKX listing, at 17:00.
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