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August 2, 2022

And there are plenty of funds in the kitty thanks to DOGE’s healthy price. The core team is “currently establishing a framework and guidance on how that will be used, given its size,” said Nicoll. But having turned down money from Musk and other wealthy would-be investors (Nicoll won’t name them, but said they declined money so as to avoid being beholden to one individual), they don’t see the value in further fundraising until they have a concrete plan about how the money will be used. Dogecoin’s next upgrade In the month before Nicoll starts his new job, he’s laying the ground for the cryptocurrency’s 1.21 upgrade —the biggest since 2019, and a foundation for all the changes to come. The upgrade is based on Bitcoin, and Nicoll credited the Bitcoin Core 0.21 developers for the work.

Nicoll’s response is that he sees no sense in “development effort just for the sake of spending development effort,” especially when Dogecoin upgrades can take up to 18 months for the network to adopt. “Why would we do a more frequent upgrade? That seems crazy,” he said. Cats and Doge Nicoll joined the crypto industry after 10 years spent in academia as a research fellow focused on applications development. Until recently, he led technical development on smart contracts for the enterprise blockchain project R3 , working closely with commercial banks.

He also had a brief stint working on the breakthrough NFT project CryptoKitties . His approach reflects his background in commercial blockchain development, where releasing a new upgrade every three months, as some blockchain projects do, would be excessive.

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Dogecoin ross nicoll elon musk

He is back at the coffee shop, and we’re going, ‘great, but we need to make a path from A to Z—it’s not the next step.’ So we’re a long way off from actually announcing plans on that right now.” The devs and Musk have also discussed ways of reducing Dogecoin’s carbon footprint, which they are “still evaluating.” There’s “lots of modeling” to be done before major decisions are made, said Nicoll. While Musk’s plans are exciting to the devs, Nicoll said they need to sort out more immediate issues with the network first. But the team is optimistic that with Musk in the picture, they could further reduce the cryptocurrency’s energy consumption—which, by one estimate on Thursday, is already just 7% of Bitcoin’s.
The next Dogecoin devs As the Dogecoin market heats up, Nicoll said interest in developing the coin has gone through the roof.

Dogecoin ross nicoll elon muska

Ve bunun neye benzemesi gerektiği konusunda ondan tavsiye alıyoruz.”

Musk, geliştiricilere, bir PayPal kurucusu olarak sahip olduğu bilgilere dayanarak Dogecoin’i bir şakadan gerçek bir yardımcı programa nasıl taşıyabilecekleri konusunda birçok tavsiyede bulundu. Nicoll, “Dürüstçe söyleyebilirim ki, daha yüksek işlem hacmini artırdı” dedi.

Gerçekten de Musk’ın projeye olan coşkusu, geliştiricilerin genellikle onu kontrol altında tutmaları gerektiği anlamına geliyor. Nicoll, “Nihai hedefe koşuyor. Biz de ‘harika, ama A’dan Z’ye bir yol yapmamız gerekiyor’ dedik.

Bu yüzden, doğru planların duyurulmasından şimdilik çok uzaktayız” ifadelerini kullandı.

Geliştiriciler ve Musk, Dogecoin’in “hala değerlendirmekte oldukları” karbon ayak izini azaltmanın yollarını da tartıştılar. Nicoll, büyük kararlar alınmadan önce yapılması gereken “çok sayıda modelleme” olduğunu söyledi.

Dogecoin ross nicoll elon muskat

Musk dijo que Dogecoin vencería a Bitcoin «sin duda» si sus desarrolladores hicieran tres mejoras: un tiempo de producción de bloques 10 veces más rápido, un tamaño de bloque 10 veces más grande y tarifas de transacción 100 veces más bajas.

Idealmente, Doge acelera el tiempo de bloqueo 10 veces, aumenta el tamaño del bloque 10 veces y reduce la tarifa 100 veces. Entonces gana indiscutiblemente.

– Elon Musk (@elonmusk) 16 de mayo de 2021

Cuando alguien le preguntó a Musk por qué no crear una nueva criptomoneda ideal en lugar de intentar mejorar Dogecoin. Musk dio la sorprendente respuesta de que es porque sería un «gran dolor de cabeza» crear (y presumiblemente hacer popular) una nueva criptomoneda desde cero.

Solo si Doge no puede hacerlo.

Dogecoin ross nicoll elon muskaan

It will allow any exchange or payment processor that can integrate Bitcoin to work with Dogecoin, but “ten times faster,” according to Nicoll. Google trends data on Bitcoin searches (red) versus Dogecoin. Image: Google Trends. Coinbase’s move is likely in response to mass demand.
Since Musk took DOGE under his wing, searches for Dogecoin have rivaled those for Bitcoin—providing a firm foundation for widespread adoption. And the effect the Musk tsunami has had on the industry shows no signs of abatement. But in terms of Bitcoin vs. Dogecoin, Nicoll takes a friendly tone.
“In blockchain spaces, everyone thinks they have to reinvent the wheel— they have to compete,” he said. “I’d love to work with as many blockchain [organizations] as possible.
Why would you do that?”

Dogecoin is modeled on Bitcoin but, likeLitecoin, it uses a different code, Scrypt, which isless energy-intensiveand more in line with Musk’s new, eco-friendly stance on cryptocurrencies.

The network currently does have “performance issues with the network synchronization,” said Nicoll, and that will be remedied with an upcoming upgrade, designed to act as a foundation for many of the sweeping changes to come—some of which have been encouraged by Musk.

Buying a coffee with Dogecoin

Nicoll, who comes across as chatty and down to earth, was coy about revealing too much of the conversations he’d enjoyed with Musk, but open about Musk’s main aim: to make Dogecoin cheap and easy enough to use to buy a cup of coffee.

“Elon obviously has a background in payment processing,” said Nicoll.

Dogecoin’i dünyanın en çok kullanılan kripto para birimi yapma konusundaki sabırsızlığı hali hazırda görülüyor.

Nicoll, akademik olarak uygulama geliştirmeye odaklanan bir araştırma görevlisi olarak geçirdiği 10 yıldan sonra kripto para endüstrisine katıldı. Yakın zamana kadar, ticari bankalarla yakın çalışarak kurumsal blok zinciri projesi R3 için akıllı sözleşmelerde teknik geliştirmeye liderlik etti. Yaklaşımı, bazı blok zinciri projelerinin yaptığı gibi, her üç ayda bir yeni bir yükseltme yayınlamanın aşırı olacağı ticari blok zinciri geliştirme geçmişini yansıtıyor.

“Diğer 3000 blok zincirinin zaten yeniden icat ettiği teknolojiyi yeniden keşfetmeye çalışmıyoruz.

The upgrade is based on Bitcoin, and Nicoll credited the Bitcoin Core 0.21 developers for the work. “We really tried to be as close as we absolutely can to Bitcoin, so that it’s super easy to adopt,” he said.

After the upgrade, the team’s next goal is to cut transaction fees from their current average of $0.4 to $0.01. “It’s going to be a bit of a negotiation with the miners. But we have to convince them that it’s healthy for the network,” said Nicoll.

“From an end-user perspective, [the] main highlights are we’re looking at how to make sync speed better,” he explained. The upgrade will also ensure that wallet backups are valid forever, and will make it easier for service providers to integrate Dogecoin.

Last week, crypto exchange Coinbase announced that it will finallylist Dogecoin, after much prevarication.

Dogecoin from a joke to a true utility, based on his knowledge as a PayPal founder. “I can honestly say he’s improved the higher transaction throughput,” Nicoll said.

Indeed, Musk’s enthusiasm for the project means that the devs often need to hold him in check.

“He runs off to the end goal,” Nicoll said. “He is back at the coffee shop, and we’re going, ‘great, but we need to make a path from A to Z—it’s not the next step.’ So we’re a long way off from actually announcing plans on that right now.”

The devs and Musk have also discussed ways of reducing Dogecoin’s carbon footprint, which they are “still evaluating.”There’s “lots of modeling” to be done before major decisions are made, said Nicoll.

While Musk’s plans are exciting to the devs, Nicoll said they need to sort out more immediate issues with the network first.

It was almost midnight in London on a quiet Thursday last week. Software engineer and part-time Dogecoin developer Ross Nicoll was getting into his pajamas, ready for bed, when his message feed suddenly blazed into life. Elon Musk, arguably the most influential man on Twitter (certainly on Crypto Twitter) had tweeted about Nicoll and the three other core developers responsible for the Dogecoin blockchain.

“Working with Doge devs to improve system transaction efficiency,” the Tesla and SpaceX chief said . “Potentially promising.”

Working with Doge devs to improve system transaction efficiency. Potentially promising. — Elon Musk (@elonmusk) May 13, 2021

“I was stunned,” Nicoll told Decrypt on a Zoom call the following day.

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