Elon Musk confirms: Dogecoin will have a big upgrade!
At last Elon Musk and Matt Wallace, two famous and controversial fans of Dogecoin has talked about this cryptocurrency’s upgrade in their twitter. This update is going to make it able for Dogecoin dominate the cryptocurrency market.
According to cryptoslate, Matt Wallace, one of the most famous Dogecoin fans, has tweeted at Friday, June 9th and pointed to the society about this cryptocurrency and the new upgrade that is going to be published for it and is on the way.
According to Matt Wallace, this upgrade will increase the speed of the transitions that is being done in Dogecoin main network and transfers and transitions in the network would be a lot cheaper.
“Reminder: The Dogecoin update is coming soon! It will position Doge perfectly to become one of the most used currencies in the world.”
Wallace had successfully introduced himself as one of the best content developer for Dogecoin in YouTube. Final Stand YouTube channel in one of the biggest cryptocurrency communities in the world and it belongs to Wallace.
The tweet that he published at Friday, caused a lot of reaction from everywhere, and one of the guys who reacted to this tweet has been Elon Musk. Elon Musk, Tesla Company’s CEO that calls himself “The Doge father”, has said that this Dogecoin Upgrade will make it popular, because this upgrade and updating is to fix defects and weaknesses that these weaknesses still are in Dogecoin Rivals systems like Bitcoin and Ethereum.
Elon Musk has said this in his Tweet:
“BTC & ETH are pursuing a multilayer transaction system, but base layer transaction rate is slow & transaction cost is high. There is merit imo to Doge maximizing base layer transaction rate & minimizing transaction cost with exchanges acting as the de facto secondary layer.”
Bitcoin and Ethereum, the two best and first cryptocurrencies in the world has faced many problems from past until now. For example, Bitcoin has a lot of troubles with Scalability but it’s trying to find a solution for this problem with the taproot solve this problem.
From another perspective, Ethereum’s high fee is so annoying that this problem has made a lot of Ethereum users to leave this cryptocurrency’s Blockchain network and go to other Blockchains like Tron. Ethereum’s developers are trying to face this problem by an Update for Ethereum that is concentrating on this matter, but however it isn’t expected that this update will be finish any time soon.
Elon Musk’s constant tweets and support for Dogecoin are known to the public of the cryptocurrency community. Musk tweets have often helped drive up market prices. But in recent weeks, despite the support of Elon Musk and his publicity for Bitcoin and Dogecoin, he had very little impact on the market. Elon Musk had previously suggested an update to Dogecoin that would allow this cryptocurrency to defeat Bitcoin and eventually become a “global currency”, which Elon Musk’s idea was not considered by the market.