© Reuters. Cardano founder shares ideas with Elon Musk to improve Dogecoin
Charles Hoskinson, founder of Cardano (ADA) and CEO of Input Output, has shared some ideas with Elon Musk to help him improve Dogecoin (DOGE).
The ideas were shared by Charles Hoskinson through an explanatory video posted on Twitter on Monday, May 17.
How to Fix Doge (For Elon Musk) https://t.co/3qZiwO2qK1
– Charles Hoskinson (@IOHK_Charles) May 17, 2021
Some ideas from Hoskinson for Elon Musk
First of all, the founder of Cardano suggested that Dogecoin should replace Scrypt with Prism, thanks to which it could achieve up to 10,000 transactions per second.
Another element addressed has to do with mining. Hoskinson recommends that, to maintain Dogecoin’s “ASIC Resistant”, HashCore should be used, to make mining more accessible, efficient and competitive.
Later, Charles Hoskinson also pointed to Dan Boneh’s Balloon hashing theory, with the aim of rethinking the difficulty objectives to create a “much more reasonable” system.
On top of that, Hoskinson claims that DOGE should have quantum resistance. Lastly, he noted that thanks to ErgoScript, Dogecoin can have smart contracts.
Elon Musk and Dogecoin
Tesla (NASDAQ 🙂 and SpaceX CEO Elon Musk has been in the limelight for the past week, primarily for his rejection of and continued support for DOGE via Twitter:
“Ideally, DOGE speeds up block time 10 times, increases block size 10 times, and reduces rate 100 times. Then win without a doubt ”.
This latest tweet from Musk about Bitcoin and DOGE sparked a series of sharp responses from some CEOs of the crypto ecosystem.
Elon Musk has gained widespread notoriety in recent weeks for pushing up the price of DOGE, which has risen nearly 20,000% since January.
The post Cardano Founder shares ideas with Elon Musk to improve Dogecoin was first seen on BeInCrypto.
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