Charles Hoskinson, co-founder of the cryptocurrency Ethereum, recently posted an eight-minute video about improving Dogecoin.
It’s full of technical jargon. But Hoskinson essentially explains that Dogecoin needs to improve its transaction speed and make it more similar to Bitcoin.
- He said if Dogecoin could get a “bitcoin-like system” it would produce roughly 10,000 transactions per second, which would only increase the amount of Dogecoin out there.
You can watch the eight minute video below or on Twitter. The video is full of technical cryptocurrency terms and a little in the weed. Below the video we will talk about why this is important.
Hoskinson apparently posted the video specifically for Elon Musk. He hoped the video would help the Dogecoin community and Elon Musk.
- “I wish him the best of luck in rebuilding this cryptocurrency with his super-elite engineers that he undoubtedly has as he is one of the richest men in the world,” he said, according to Benzinga.
He added, “Thank you for entering our room and thank you for telling everyone that you are going to hold this cryptocurrency and make sure it gets where it is needed and I look forward to that great innovations that you have come out within a year or two. “
Musk has been hinting at working with Dogecoin in the past few days, as I wrote for Deseret News. Musk published a poll asking if Tesla should accept Dogecoin as a form of payment, just as he had announced that Tesla would no longer accept Bitcoin for payments. He later said he was working with Dogecoin to improve cryptocurrency.
- “Work with Doge developers to improve the efficiency of system transactions. Potentially promising, ”he tweeted.