By Hassan Mehmood (Saudi Arabia)
It was generally believed that Elon Musk is all but done with the idea of cryptocurrency after he abolished Bitcoin for being a threat to the environment due to its mining, and his plan to boost the price of Dogecoin ended up being a total bust, but no Elon is far from done with the crypto world.
He continues to meddle with the crypto space through his tweets and adding value to the work of the developers out there as he has been doing with the Dogecoin’s developers, but this time he has provided clear directions using which the Dogecoin’s developers will be able to increase the efficiency of the token and make it an endearing competition for Bitcoin. What is different this time around is the fact that Elon Musk has provided precise to-do points to Dogecoin’s developers. According to him, the upcoming upgrade is going to make the platform faster and more cost-effective than Bitcoin and Ethereum combined.
Musk Issues Precise Instructions to Speed up Dogecoin’s Network
An IT engineer tackled Musk on Twitter, saying that Dogecoin is already 15 times faster and cheaper than ETH and BTC, and making block speed 10X faster is going to be a difficult task to pull. Musk replied that there is no need to jump up the block speed and frequency at the same time as both should increase steadily, side by side, to offer stability to the system while matching the available bandwidth in a broad fashion.
Although it sounds tempting and also gives out an idea that Musk may finally be onto something but, at the end of the day, he forgets that Dogecoin is minted along with Litecoin. Speeding up the transaction speed for one is not ultimately going to do the same for the other one, and both play a significant role in determining the overall speed of the transactions performed on each network and their cost in relation to that. Therefore the only solution here to truly boost up the meme cryptocurrency is through Dogecoin’s hardfork from the Litecoin and then boost up the token individually.
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