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Elon Musk became a Dogecoin developer and would improve the coin

Elon Musk became a Dogecoin developer and would improve the coin

Elon Musk She works with cryptocurrency developers Dogecoin To improve the digital currency according to A. Mail Made by a billionaire on Thursday night (13).

Apparently, Musk finds it auspicious to resume development of a currency that has not been updated for so long.

“Working with DOGE developers to improve system transaction efficiency. Very promising.” – He said.

Musk could very well help develop Bitcoin, but what he really likes is a dog-faced meme.

Elon Musk, Bitcoin e Dogecoin

Billionair He said At the beginning of the year, this much loves irony, and it would be ironic for a joke coin to become the currency of the future.

lately I showed Bitcoin will no longer be accepted as payment in Tesla At the same time, Accepted Dogecoin as payment for the SpaceX lunar mission.

In another tweet, he indirectly criticized Bitcoin again, which showed a change in attitude towards the digital currency.

“To be clear, I strongly believe in cryptocurrencies, but they cannot lead to a massive increase in the use of fossil fuels, especially coal.”

It should be noted here that more than 60% of Bitcoin mining takes place in China, with most of the energy sourced from coal-fired power plants.

Promising?

Elon Musk is well aware of Dogecoin’s problems, the biggest of which is the endless supply.

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If he’s already working with the developers to optimize the coin, it might be a very good idea that they’ve resolved the supply issue permanently.

They can create systems to burn and reduce emissions of DOGEs, which are currently 10,000 per minute.

When it comes to transaction efficiency, Dogecoin does not have as many miners as Bitcoin and is thus less secure. In this way, the digital currency will be more vulnerable to attacks.

However, Dogecoin developers – and it appears that Elon Musk has become one of them – can simply make updates.

Musk appears committed to making Dogecoin the most valuable and important cryptocurrency in the world, and as he has already explained, it doesn’t matter what destroying Bitcoin means.

It’s important to keep in mind that he might have tried to do the same with Bitcoin, but Bitcoin is really decentralized and his voice was just one vote in a giant, unified community.

However, in Dogecoin, he has the support and can become the protagonist, “Satoshi Nakamoto from Dogecoin”.

He didn’t make the coin, of course, but in this case, he knows he’s the one who turned the joke into something serious.

Dogecoin is on the rise

Dogecoin investors have many reasons to smile.

In addition to today’s announcement that the largest brokerage firm in the US, Coinbase, will start trading the coin, it has now acquired a new developer who is none other than the second richest man in the world.

As a result, the digital currency rose in the last hour alone by more than 10%.

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