Dogecoin Will Beat Bitcoin and Ethereum In Terms Of Scalability : Elon Musk

In response to the YouTuber Matt Wallace’s observation that the upcoming updates will “make the Dogecoin one of the most widely used currencies in the world”, Musk presented his ideas on upgrading Dogcoin’s blockchain ecosystem system will provide more benefit to make faster and cheaper transaction rates.

As Musk pointed out, Bitcoin has adopted “multi-layer” transaction systems intending to resolve such issues and expects Bitcoin’s top-root update to emerge from this coming fall. In the case of Dogecoin, Elon Musk believes that it would be better for crypto exchanges to use an additional layer “base layer” to allow for faster and cheaper transactions from exchange to exchange.

In fact, when discussing dogecoin, it is very difficult to downplay Musk’s ideas – he played a major role in promoting and adopting cryptocurrencies, more than any other person who is highly responsible for the dogecoin phenomenon. As always, the wider crypto world is left to watch his Twitter account and see what happens in the future.

While to a recent tweet of Elon to which Pranay Pathole an IT Engineer tweeted that Dogecoin is already 15 times faster than Bitcoin and he also suggested that the fee drops are easy to achieve, the only tough part for the devs is to speed up the Block time speed by 10x.

To which Elon replied with a tweet, “Block size & frequency should steadily increase to match broadly available bandwidth”.

In response to Elon’s previous tweets about promises of making dogecoin much faster and cheaper than its competitors, Gabor Gurbacs and Samson Mow, these two Bitcoin community influencers came into action and tweeted that Elon seems to have forgotten about the previous nuance that Dogecoin is merge-mined with Litecoin.

While the transaction speeds of Litecoin are also slow, and LTC and DOGE are mined together, this merge was done back in 2014 so as to avoid the 51 percent attacks against the DOGE.

Thus, accessing this scenario if the developers want to boost the transactions speeds to a far greater extent then they would have to either hardfork in DOGE from Litecoin mining pool ( highest probability) or else suggest a different approach to the solve the scalability factor.

While beside the Elon Musk’s suggestions, few experts suggested to launch the DogeCoin at Trc-20 network or at Solana to solve the problem of scalability.

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