Elon Musk has been ridiculed many times for commenting or influencing cryptocurrencies via his Twitter account, but he continues to do so. Although his intentions were with Bitcoin at first due to the environmental implications its mining has, it soon shifted towards Dogecoin, and Elon has been trying ever since to spike up its price. Not only this, but he has done many things in the past to do so, in the hopes that its price will improve to $1 per token, but it didn’t happen.
Anyway, since then, Elon likes Dogecoin, a meme-based cryptocurrency, and has taken the initiative to perfect it in every sense. He wants to make Dogecoin’s blockchain faster and more efficient than that of Bitcoin and Ethereum and wants to make the transactional abilities of the coin more elegant and cost-effective than any other cryptocurrency there is.
He has recently published many tweets concerning the matter where Musk presses on the developers to take certain actions that will help make Dogecoin more effective and efficient in every sense than its competitors, Bitcoin and Ethereum. We can assume Elon’s ambitions are a bit audacious as he wants Dogecoin against Bitcoin and Ethereum, but Musk is adamant that it can be done, and he has even issued the recipe to do so.
Dogecoin can Beat Bitcoin and Ethereum, according to Musk
He says that if Dogecoin developers tend to develop a faster and not all-complex base layer, it will mean that other cryptocurrencies will try to build on it, making Dogecoin the most efficient and cost-effective crypto network.
The very reason is that both Bitcoin and Ethereum are pursuing a multilayered transaction system which makes the base layer kind of weak and slower. When asked if Dogecoin would have to come to the same plan as the Visa network’s speed, Musk disagreed by saying that no, it won’t have to do that. Musk seems a little too ambitious with Dogecoin; however, no one knows where it might end with either Musk giving up or Dogecoin being shaped into a revolutionary cryptocurrency.