Culture

Dogecoin Developers and Elon Musk Have Been Working Together Since 2019

The entrepreneur is currently helping the team improve system transaction efficiency.

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2,632 Hypes

Dogecoin Developers and Elon Musk Have Been Working Together Since 2019

The entrepreneur is currently helping the team improve system transaction efficiency.

Last week, Dogecoin’s co-creator Jackson Palmer tweeted that Elon Musk is a “self-absorbed grifter,” which was later deleted. However, recent reports have revealed that Musk has been an advisor to the Dogecoin developers since 2019.

One of the core developers, Ross Nicoll, shared with Decrypt that Musk has “encouraged them to improve the higher transaction throughput,” provided them with “lots of advice and input” and even shared his extensive list of connections within the industry. After suspending vehicle purchases using Bitcoin, Musk will now help “further reduce [Dogecoin's] energy consumption – which, by one estimation on Thursday, is already just seven percent of Bitcoin’s.” Previously, the team of four core developers was offered funding by the businessman and other wealthy investors, whom they all turned down.

In other cryptocurrency news, Shiba Inu Token is the new dog-themed coin on the rise.

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Decrypt
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