Tesla CEO Elon Musk is on the agenda again with Dogecoin shares. Elon Musk continues the Twitter discussion with DOGE developers on how Dogecoin can be improved, this time offering them specific guidelines. After this sharing of Elon Musk, there was a small movement in the price of Dogecoin.
Tesla CEO Elon Musk is on the agenda again with DOGE shares
Tesla CEO Elon Musk, known as the most influential Dogecoin fan, published a Twitter post on July 9. The famous billionaire suggested that after the big upgrade, DOGE will be superior to Bitcoin and Ethereum because the meme cryptocurrency will offer much faster and cheaper transactions than these high-end Blockchains. This upcoming upgrade of DOGE is expected to increase the speed of the cryptocurrency’s base layer transactions while lowering the number of fees at the same time.
An IT engineer Pranay Pathhole wrote in response to his tweet that Dogecoin is already 15 times faster than Bitcoin. But he pointed out that it would be difficult to make the block rate ten times faster. Elon Musk responded to this post by explaining how DOGE developers should fulfill this task. Elon Musk tweeted and said:
Block size and frequency should increase steadily to match the widely available bandwidth.
Elon Musk forgot an important issue! two Bitcoin community influencers reminded
In response to Elon Musk’s tweet on Friday promising to make DOGE faster and cheaper than BTC and ETH, two Bitcoin community influencers, Gabor Gurbacs and Samson Mow, tweeted that one nuance had been forgotten by Elon Musk: Dogecoin with Litecoin combined. Cryptocoin. com
As we previously reported as , Litecoin’s transactions are also slow, but LTC and DOGE are mined together. This was done to prevent 51 percent of attacks against DOGE in 2014.
Now, if the transaction speed of the meme coin is to be greatly increased, the developers will first have to hard fork DOGE from Litecoin or propose another solution. After Elon Musk’s last share, there was a small movement in the price of Dogecoin. In this case, it shows that the famous billionaire Elon Musk has failed to influence the price of the now popular cryptocurrency. In addition, some experts emphasize that the crypto money market, which did not react to the shares of Elon Musk, has now entered another phase.