Tesla CEO Elon Musk in his recent podcast interview with Lex Fridman talks about transition values of bitcoin and promoted Doge. Elon Musk said that dogecoin was started with a joke but it is fundamentally better than bitcoin. Elon Musk favours dogecoin and said it has transition fee is less and has higher transition volume. He added bitcoin has high transition fee and it is not possible to scale higher volume with high transition fee. Doge has a bigger square size, indeed, however Bitcoin has significant degrees more conditional throughput utilizing the second layer Lightning Organization. Scaling at the blockchain layer is on a very basic level defective as it essentially sabotages decentralization and convention unchanging nature.
dogecoin is fundamentally better but zero transition usage
The cost of dogecoin transition fee is incredibly low. this is often as a result of the network has virtually zero transactional usage, not attributable to a superior style. Bitcoin had low fees too once nobody was victimization it. you will treat the protocol as a chunk of software package and have developers increase the block size however this then provides them management over all agreement rules, together with inflation schedule. Such management makes the developers the equivalent of central bankers. once Bitcoin was started in 2008 information measure was lower, therefore a smaller block size established with a lot of sense however it does not currently , it’s true that larger block size now’s a lot of possible however dynamic it undermines protocol changelessness and believability of financial system.
Elon Musk dogecoin tweet
yes Elon Musk usually promotes dogecoin
Elon Musk holds dogecoin
yes Elon Musk holds dogecoin
Dogecoin price today
dogecoin price is 0.169 us dollar