NEW!Incredible offer for our exclusive subscribers! Read More
AltcoinsBTCCryptoETHMiningOtherStock

Elon Musk Claims Dogecoin Will Win “Hands Down” Against Bitcoin if It Scales

1 Mins read

In his reply to a tweet that compares Dogecoin to Bitcoin, Tesla CEO Elon Musk opined that the meme cryptocurrency will win “hands down” against Bitcoin if some major changes get implemented.

Source: u.today

Particularly, Musk wants Dogecoin’s block time and block size to increase ten times.

Image by @elonmusk

Both Bitcoin and the Shiba Inu-inspired coin have an arbitrarily set block size limit of 1 megabyte. Any larger blocks are considered to be invalid. The similarly comes as no surprise since Dogecoin was initially created as merely a meme copycat of the largest cryptocurrency.

However, the joke coin was modeled to have faster transaction times than Bitcoin. Instead of 10 minutes, miners churn out new blocks every minute, but that’s not enough for the billionaire.

Musk also wants Dogecoin’s transaction fees to drop 100 times from where they are now, an improvement that would make the cryptocurrency more attractive for commerce.

As of May 15, the average Dogecoin transaction fee is $1.59, which is 824 percent higher than it was three months ago.

No Elon Coin?

In a separate tweet, Musk claims that creating his own coin from scratch would be “a pain the neck.” However, he will be open to the idea if Doge fails to deliver on his expectations.

As reported by U.Today, Musk claimed that he was working with Dogecoin developers to make his favorite coin more efficient.

Related posts
Other

Cointolab blocked more than 10 thousand wallets from Russia

1 Mins read
The Cointolab platform said it has blocked more than 10,000 wallet addresses associated with Russian individuals or entities that it believes are…
AltcoinsBTCCryptoETHMiningOtherStock

Bitcentr launched the largest aid campaign!

1 Mins read
Ukraine is at war, war for our freedom but also for European freedom and democracy. People of Ukraine are in a big…
Other

Cryptexby with Bitfinex will start a trading giveaway for Telegram users

1 Mins read
In this paragraph, Bitfinex with Friends of Cryptexby.com are starting with Top crypto giveaway. After that From 0.001 tо 0.25 bitcоin and…
Power your team with InHype

Add some text to explain benefits of subscripton on your services.

Leave a Reply

Your email address will not be published. Required fields are marked *