Main navigation

Elon Musk Offers Devs Specific Directions on Making Dogecoin Superior to Bitcoin and Ethereum

News
Sat, 07/10/2021 - 12:12
article image
Yuri Molchan
Elon Musk continues Twitter discussion with DOGE developers on how to improve Dogecoin, offering them specific directions this time
Elon Musk Offers Devs Specific Directions on Making Dogecoin Superior to Bitcoin and Ethereum
Cover image via U.Today
Read U.TODAY on
Google News

Tesla chief executive Elon Musk who is known to be the most influential Dogecoin fan. On July 9, he published a Twitter post, suggesting that after the major upgrade DOGE will become superior to Bitcoin and Ethereum as the meme coin will offer much faster and cheaper transactions than these top-line blockchains.

This upcoming upgrade of DOGE is expected to boost the speed of the coin’s base layer transactions and bring down the fees at the same time.

In response to his tweet, an IT engineer Pranay Pathole wrote that Dogecoin is already 15 times faster than Bitcoin. However, he pointed out that making block speed ten times faster is going to be hard.

Elon responded, suggesting a way how DOGE devs should implement this task. He tweeted:

In response to his Friday’s tweet that promised to make DOGE faster and cheaper than BTC and ETH, two Bitcoin community influencers, Gabor Gurbacs and Samson Mow, tweeted that one nuance seems to be forgotten by Musk – Dogecoin is merge-mined with Litecoin.

Related
Elon Musk’s Tweet About Marvel’s Loki Turned into Floki Inu Pump by Meme Coin's Fans

Litecoin’s transactions are also slow but LTC and DOGE are mined together. This was done in 2014 to prevent 51 percent attacks against DOGE.

Now, if the meme coin transaction speed is to be boosted greatly, developers would have to hardfork DOGE from Litecoin first or suggest another solution.

article image
About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at yuri.molchan@u.today.