Wednesday, July 28, 2021
HomeNew Dogecoin (DOGE) update has this key ‘merit,’ says Elon Musk

New Dogecoin (DOGE) update has this key ‘merit,’ says Elon Musk

Matt Wallace, a well-liked proponent of Dogecoin, reminded the Dogecoin group at present about an upcoming replace that may pace up transactions and make the community even cheaper. It elicited a response from none apart from ‘Dogefather’ Elon Musk.

Dogecoin replace is coming

Wallace made his title as one of many main Youtube content material creators about Dogecoin. His YouTube channel “Remaining Stand” is likely one of the greatest crypto communities on the video streaming platform.

And he continues to do his bit to push the Dogecoin group forward: “Reminder: The Dogecoin replace is coming quickly! It’ll place Doge completely to change into one of the used currencies on the planet,” he stated in a tweet at present.

This elicited various levels of responses from his followers who wished the coin to “pump” once more. One of many responses to his tweets got here from the self-acclaimed ‘DogeFather,” Tesla CEO Elon Musk, who instructed that the approaching replace will favor Dogecoin because it builds on the shortcomings of the extra illustrious counterparts of the coin; Bitcoin and Ethereum.

“BTC & ETH are pursuing a multilayer transaction system, however base layer transaction fee is gradual & transaction value is excessive. There’s benefit imo [sic] to Doge maximizing base layer transaction fee & minimizing transaction value with exchanges appearing because the de facto secondary layer,” stated Musk within the tweet.

BTC, ETH limitations

The 2 main crypto belongings have confronted completely different ranges of challenges. Bitcoin, as an example, is dealing with scaling points however it’s trying to tackle this by way of its taproot improve. 

Alternatively, Ethereum is bedeviled with excessive transaction charges which have pushed a few of its customers to different alternate options. Its builders are additionally proposing an improve that may attend to this problem however it isn’t anticipated to be accomplished quickly.

It could be recalled that the Tesla CEO has constantly tweeted in assist of the meme coin. Most occasions, his tweets in assist of the coin had all the time resulted within the improve in worth of the digital asset (this impact has, nonetheless, been priced out in the past few weeks).

Musk had proposed a Doge replace that may enable the asset to beat Bitcoin and finally change into the “foreign money of Earth.”

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