As BTC and ETH Pursue Multilayer Schemes, Elon Musk Says ‘There’s Merit to Doge Maximizing the Base Layer’

As BTC and ETH Pursue Multilayer Schemes, Elon Musk Says ‘There’s Merit to Doge Maximizing the Base Layer’


The CEO of Tesla, Elon Musk, is a fan of base layers when it comes to blockchain technology and on Friday, Musk explained there’s “merit” to the Dogecoin chain “minimizing transaction cost.” Dogecoin developers are in the midst of preparing to update the Dogecoin network by gradually deploying the updates to the network “over multiple 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 fact that the Dogecoin upgrade was coming in the near future. “Reminder,” Wallace tweeted. “The Dogecoin update is coming soon. It will position Doge perfectly to become one of the most used currencies in the world.” Following the tweet, Elon Musk decided to respond to Wallace’s statement and said:

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BTC [and] ETH are pursuing a multilayer transaction system, but base layer transaction rate is slow [and] transaction cost is high. There is merit [IMO] to Doge maximizing base layer transaction

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