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Elon Musk Explains Why Dogecoin Will Be Superior to Bitcoin and Ethereum After Its Big Upgrade

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Fri, 07/09/2021 - 08:10
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Alex Dovbnya
Elon Musk claims that Bitcoin and Ethereum are slow and expensive to make a case for Dogecoin's big upgrade
Elon Musk Explains Why Dogecoin Will Be Superior to Bitcoin and Ethereum After Its Big Upgrade
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Tesla CEO Elon Musk has once again weighed in on cryptocurrency scalings wars.

In his recent reply to a tweet posted by prominent Dogecoin community member Matt Wallace, the centibillionaire claims that both Bitcoin and Ethereum have slow and expensive base layers. Hence, they require a multilayer transaction system in order to function properly. 

Meanwhile, Dogecoin is poised to maximize the speed of base layer transactions while minimizing costs.

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Elon Musk Ridicules Bitcoin Maxis, Trolls "Bicurious" Jack Dorsey

As reported by U.Today, Musk recently voiced his support for a fee reduction proposal that could dramatically enhance the meme coin’s scalability.

The entrepreneur's most recent take was met with some fierce criticism within the cryptocurrency community.

Bitfinex CTO Paolo Ardoino jokingly suggested that the billionaire should build rockets with “spit and paper” to make them cheaper.

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.