He’s even open to a collaboration between Dogecoin (DOGE) and Ethereum (ETH), specifically a bridge for cross-chain interaction. Buterin himself holds some DOGE.
For the basics of Ethereum 2.0, see here.
He is focused on scalability for Ethereum but is interested in a merger with Dogecoin and trading DOGE alongside ETH, quickly, with low transaction fees.
He cited the potential for a technology that can merge mine Dogecoin with Ethereum proof-of-stake.
Specifically, he says, “If doge wants to somehow bridge to ethereum, and then people can trade doge thousands of times a second inside a loop ring, then that would be amazing.”
Proof of Stake (POS) Mining vs. Proof of Work (POW)
POS is the more sustainable and environmentally friendly mining option. It doesn’t require as much energy. Block transactions are mined relative to the number of coins a miner has. Mining power is solely determined by the percentage of coins.
POW is the OG consensus algorithm in blockchain technology and, as such, is utilized for Bitcoin. Miners need to sell whatever coins they own in proportion to the number of blocks on the chain. Given how much energy goes into one Bitcoin transaction, miners have an incentive to sell their coins in exchange for fiat currency.
Will Dogecoin continue its winning streak? Is it practical to work on scaling DOGE, as Elon Musk seems to want to do?