Elon Musk Continues Directing Developers to Make DOGE Superior

Elon Musk Continues Directing Developers to Make DOGE Superior

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Tesla’s CEO Elon Musk continues directing developers to make Dogecoin or DOGE superior as compared to Bitcoin and Ethereum over Twitter. 

Musk Urges Developers To Make DOGE Superior Unlike Bitcoin And Ethereum

Elon Musk is often regarded as the most powerful Dogecoin supporter. On July 9, he tweeted that after the significant update, DOGE will be superior to Bitcoin and Ethereum since the meme coin will provide considerably quicker and cheaper transactions than these top-tier blockchains.

This forthcoming DOGE update is anticipated to speed up the coin’s base layer transactions while also lowering costs.

Reminder: The Dogecoin update is coming soon! It will position Doge perfectly to become one of the most used currencies in the world.

— Matt Wallace ⚠️ (@MattWallace888) July 9, 2021

Pranay Pathole, an IT engineer, responded to his post by saying that Dogecoin is already 15 times quicker than Bitcoin. He did, however, mention that increasing block speed tenfold will be difficult.

Doge is already 15x faster than Bitcoin.

Fee drop is easy to achieve.

Block size increase is easy to achieve.

Block time speed up by 10x is the hardest part.

— Pranay Pathole (@PPathole) July 9, 2021

Musk reacted by advising DOGE developers on how to carry out this work. He made the following tweet:

Doge is already 15x faster than Bitcoin.

Fee drop is easy to achieve.

Block size increase is easy to achieve.

Block time speed up by 10x is the hardest part.

— Pranay Pathole (@PPathole) July 9, 2021

 

In reaction to Musk’s Friday post promising to make DOGE quicker and cheaper than BTC and ETH, two Bitcoin community leaders, Gabor Gurbacs and Samson Mow noted that one detail appears to have escaped Musk’s attention – Dogecoin is merge-mined with Litecoin.

Transactions between LTC and DOGE are sluggish, however, LTC is mined in conjunction with DOGE. In 2014, this was done to prevent 51% of DOGE assaults. If the transaction speed of the meme coin is to be increased, developers will need to first hard fork DOGEs from Litecoin.

DOGE Shall Not To Rely On Visa’s Speed To Be Useful

Musk is still discussing the future of Dogecoin. He believes that to remain relevant in the world of online payments, meme money needs to strengthen its basic layer. 

As reported by the CEO of Tesla, DOGE will not be required to compete with Visa’s speed. Willy Woo, an on-chain expert, disagrees with Musk’s assertion. Musk has stated his continued interest in Dogecoin. He recommended changing the DOGE network’s fee structure and policies. Musk backed a proposal to lower Dogecoin fees in June.

It won’t need to reach visa speed, as regulated exchanges will act as de facto second layer.

But the perfect should not be the enemy of the good – it is still good to increase base layer transaction speed & lower base layer transaction cost.

— Elon Musk (@elonmusk) July 10, 2021

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