THELOGICALINDIAN - The CEO of Tesla Elon Musk is a fan of abject layers back it comes to blockchain technology and on Friday Musk explained theres arete to the Dogecoin alternation aspersing transaction amount Dogecoin developers are in the bosom of advancing to amend the Dogecoin arrangement by gradually deploying the updates to the arrangement over assorted software releases
Tesla’s Elon Musk Wholeheartedly Believes in Dogecoin’s Base Layer
On Friday morning (EDT), top dogecoin (DOGE) Youtuber Matt Wallace tweeted about the actuality that the Dogecoin advancement was advancing in the abreast future. “Reminder,” Wallace tweeted. “The Dogecoin amend is advancing soon. It will position Doge altogether to become one of the best acclimated currencies in the world.” Following the tweet, Elon Musk absitively to acknowledge to Wallace’s account and said:
The bulletin from Musk follows his June 27 statement on Twitter, area he said it was “important to support” the Dogecoin upgrade. Dogecoin amount developer Patrick Lodder and Dogecoin amount maintainer Michi Lumin accept been alive with a aggregation that has been coding the upgrade.
“The proposed changes beneath accompany the accommodation ability appear which affairs to accommodate aback to miners instead of the broadcast arrangement and access configurability of all fee-related parameters, acceptable the ascendancy of anniversary alone bulge abettor and the association as a whole,” the new fee structure for Dogecoin amount says. Aback in May, Tesla’s CEO said he was acquisitive block times would access 10X and the fees would bead 100X. Lodder’s new fee anatomy states:
Responses Sent to Musk See Recommendations Like Solana, the Lightning Network, Stacks, Drivechain, and Bitcoin Cash
Currently, the amount to accelerate dogecoin (DOGE) is 0.0052 DOGE per byte, which can be translated into 2.13 DOGE per transaction ($0.454). During the aboriginal anniversary of May, dogecoin transaction fees affected a aerial of $2.37 per transfer. Dogecoin prices at that time were abundant college than they are today. Some bodies responded to Musk’s abject band transaction amount cheep and explained that there are absolute blockchains that are already up to speed.
“Solana, you actually are aloof allurement for Solana,” one crypto fan replied to Musk on Friday. Software developer Patrick Dugan responded to the individual’s Solana tweet. “The one affair that would accomplish defi on Doge bigger than Solana is its PoW mining and the appulse of that on amortizing solar and array installations,” Dugan tweeted.
Of course, supporters of the Lightning Network (LN), which has apparent significantly beneath adoption than many added networks acclimated for BTC sidechain purposes, approved to argue Musk to attending into the LN protocol. LN was recommended to Musk by bodies like Udi Wertheimer and others.
Bitcoin Banknote supporters additionally chimed in and responded to Musk’s base-layer statement. “Meanwhile BCH is already accomplishing it… complete cyberbanking banknote for everyone.. alike the atomic bodies on the planet,” a BCH adherent wrote in acknowledgment to Musk’s dogecoin statement.
Other bodies responded by advising things like Paul Sztorc’s Drivechain (BIPs 300 301) and the Stacks protocol. A Stacks adumbrative wrote that Musk’s requests accept been innovated on for absolutely some time now and he believes Stacks offers these benefits.
“Everything that Elon Musk is adage is what the amplitude has been innovating for the accomplished 5 years,” Louise Ivan Valencia tweeted to Musk. “TLDR; Stacks adds scalability [and] acute arrangement functionality to Bitcoin after modifying it.”
What do you anticipate about Elon Musk’s statements about the Dogecoin network’s abject layer? Lets us apperceive what you anticipate about this accountable in the comments area below.
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