Elon Musk tweeted that he has engaged with “Doge devs to improve system transaction efficiency.”
This comes after he tweeted about Tesla ceasing to accept Bitcoin over energy consumption concerns, which sent the entire crypto market downwards.
Dogecoin, which has received an incredible amount of attention due to Musk, was also recently announced to be launched to the “literal moon” on a SpaceX rocket in 2022.
Musk hinted that he was looking into alternative cryptocurrencies for Tesla to accept payments in, and previously polled twitter if they wanted him to accept Dogecoin.
For a project with very little development activity, Dogecoin may be getting much needed renewed attention in terms of development. Critics, however, are noting that Dogecoin is merge mined with Litecoin—another proof of work (PoW) cryptocurrency (like Bitcoin) and thus has similar energy consumption properties.
Nicholas is the Director of Research and Development at Inca Digital. Nicholas holds some Digital Assets. Nothing here is financial advice.