Cardano Creator Tells Elon Musk How To Fix Dogecoin

By Daily Hodl Staff • May 1, 2021 // BLOCKCHAIN

Cardano creator Charles Hoskinson is giving Tesla chief Elon Musk some suggestions on how to fix meme crypto asset Dogecoin (DOGE) from the ground up.

In a new video, Hoskinson tells Musk and his team of developers to look into a number of research papers if the tech billionaire is really serious about rebuilding Dogecoin.

According to Hoskinson, the studies can help Musk overhaul DOGE and develop the technology powering the fifth-largest crypto asset.

“So there you go, just a few easy steps: one, two, three, four, five, six, seven, eight, nine, ten, eleven. You guys are off to the [races], running and making DOGE better for everyone inside the space. 10,000 TPS (transactions per second). You get some quantum resistance. You’ll be able to figure out a network stack that will meet your needs and satisfy your urges.”

Hoskinson, who is currently redesigning the entire smart contract model for Cardano, also suggests developing new features that will massively expand DOGE’s use cases.

“You’ll have programmability. Look at that. You can finally do smart contracts on DOGE and have those DOGE-related applications. You don’t need the blockchain to mine. How about that? You get side chains. You get some cool stuff for lite clients. And then, of course, you’ll have a much more reasonable difficulty system, retargeting system, and you’re ASIC (application-specific integrated circuit) resistant.”

Hoskinson’s recommendations to Musk come after the Tesla CEO shared his thoughts on how Dogecoin can succeed in a highly competitive payments space.

“Ideally, Doge speeds up block time 10X, increases block size 10X & drops fee 100X. Then it wins hands down.”

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Featured Image: Shutterstock/klyaksun

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The original article written by Daily Hodl Staff and posted on DailyHodl.com.

Article reposted on Markethive by Jeffrey Sloe