Tesla CEO Elon Musk defends Dogecoin in response to YouTuber Mark Wallace who expressed excitement for an upcoming DOGE update. Elon have described Bitcoin and Ether as slow and costs high, and said Dogecoin is maximizing base layer transaction rates and minimizing transactions costs. Elon has always thought its important to support the reduction of the cryptocurrency’s transaction fees in order for it to remain competitive as proposed by Dogecoin developer, Patrick Lodder.
Tesla CEO Elon Musk has defended on social media efforts to scale the meme-inspired cryptocurrency Dogecoin (DOGE) after calling both Bitcoin and Ethereum “slow” at their base layer, and suggested an alternative path for DOGE.
Musk added there is merit to Dogecoin maximizing base layer transaction rates and minimizing transactions costs while using cryptocurrency exchanges as the “de facto secondary layer.”
