A team of four core Dogecoin (DOGE) developers told Decrypt that they have been working with Elon Musk since 2019.
Digital-asset developer Ross Nicoll noted that Musk recommended increasing transaction throughput. The team added that the head of Tesla shared advice and connections.
Together with Musk, the Dogecoin developers plan to make the cryptocurrency a cheaper and greener alternative to Bitcoin.
Nicoll also said that the team declined funding from the Tesla chief and other offers from wealthy investors.
On May 14, Musk wrote on Twitter that he is ‘working with the DOGE developers to improve the efficiency of system-level transactions’. After that the cryptocurrency briefly rejoined the top-five by market capitalization. The asset’s rise was also aided by Coinbase’s listing announcement on the Bitcoin exchange.
Earlier, Musk invited users to vote, whether Tesla should accept payments in Dogecoin. More than 78% of those polled supported the idea.
The head of SpaceX also said that the company will send the Doge-1 satellite to the Moon. According to Musk, the mission is fully funded by the meme cryptocurrency.
On March 1, the Dogecoin developers updated the client software for the first time in a year and a half. The cryptocurrency received ‘important performance improvements’.
Billionaire Mark Cuban predicted Dogecoin’s price to reach $1. In his words, the digital asset is better suited than Bitcoin to serve as a currency because it makes transactions easier.
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