Tesla and SpaceX CEO Elon Musk explainedwhy he prefers Dogecoin and pays no attention to other projects. This was in response to a question from a Twitter user who asked why a businessman ignores digital coins that scale and try to reduce transaction fees on the network. He cited Ethereum, Cardano, Solana, Polkadot, and IOTA as examples. Writes about this RBC Crypto.
Doge has dogs & memes, whereas the others do not
— Elon Musk (@elonmusk) May 25, 2021
He also appealed to their Twitter followers and invited them to participate in the development of Dogecoin.
If you’d like to help develop Doge, please submit ideas on GitHub & https://t.co/liAPQMFaQB @dogecoin_devs
— Elon Musk (@elonmusk) May 24, 2021
The businessman offered to send his ideas for improving the digital coin to the appropriate thread on GitHub or a section on Reddit. Musk added that someone suggested that he change transaction fees based on the phase of the moon. He called it a “cool idea.”
Previously entrepreneur offered increase Dogecoin’s throughput a hundredfold and reduce transaction fees. In his opinion, this will turn the digital coin into the “currency of the Earth”. But Musk’s proposal was criticized by users, including Ethereum co-founder Vitalik Buterin. The creator of the largest altcoin in terms of capitalization emphasized that it is impossible to increase bandwidth without compromising decentralization.
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