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.


CEO de Tesla y Space X, Elon Musk, atacó a Bitcoin (BTC) por estar altamente centralizado después de que el podcaster Peter McCormack criticara a Musk por apoyar a Dogecoin (DOGE) y por difundir información errónea sobre Bitcoin.

Como probablemente ya sepa, el 12 de mayo, el director ejecutivo de Tesla y SpaceX, Elon Musk, conmocionó al mundo al quejarse del alto uso de combustibles fósiles de la minería de Bitcoin y al decir que por esta razón Tesla no aceptaría Bitcoin como forma de pago hasta que «las transiciones mineras a una energía más sostenible «.

Al día siguiente, Musk reveló que ha estado trabajando con los desarrolladores de Dogecoin para reducir el consumo de energía de la minería de la criptomoneda basada en memes.

Trabajar con los desarrolladores de Doge para mejorar la eficiencia de las transacciones del sistema.

Qa dogecoin ross nicoll elon musk

He didn’t tell us he was going to do that.” As Nicoll related the events that have felt like an episode of the surreal sci-fi series “Black Mirror” since Musk came into his life two years ago, his excitement was palpable. What emerged was the outline of a legitimate plan in which Musk’s impatience to make Dogecoin the world’s most-used cryptocurrency is readily apparent.

Musk and Doge : A Marriage of Wow To the outside world, until last week, Musk was Bitcoin’s anointed cheerleader , the one who could take the world’s first cryptocurrency truly mainstream, after Tesla’s $1.5 billion Bitcoin buy earlier this year. Sure, hell-raiser Musk loved to tweet about Dogecoin .


But that was just for laughs, right? At least, that’s what Bitcoiners and many in the industry told themselves.

Qa dogecoin ross nicoll elon muska

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.

Qa dogecoin ross nicoll elon muskat

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.

Qa dogecoin ross nicoll elon muskaan

We need a lot of people on the ground doing coding, we need someone who’s more of a CTO, and I’m neither of these.” And crucially, he can command a better salary outside the blockchain space, though he declined to say where. He also questioned how projects can claim to be fully decentralized if they rely on a handful of core contributors.

“We want to have 100 or 200 or 1,000 minor contributors over three or four major contributors— that’s decentralized,” he said. “They look at us like we’re insane, [but] that makes sense to me.”

With that aim in mind, Nicoll has been streaming his coding live on Twitch to train the next generation of Dogecoin devs. Nicoll would love to see developers work on projects like the long-awaited Dogethereum bridge, and decentralized finance ( DeFi ) projects to bring smart contracts to DOGE.

Tesla and SpaceX have not responded to Decrypt requests for comment from Musk.)

Musk “messages every now and then,” Nicoll said. Whenever he does, it sends the devs into a “flurry of activity.”

In defense of DOGE

Many have asked how Musk could possibly see potential in a cryptocurrency that started out as a joke, runs on the most basic borrowed code, and has had virtually no recent developmenton GitHub.
Critics point to that barren GitHub page and question whether any real Doge developers exist at all.

Nicoll’s response is that hesees 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.

He didn’t tell us he was going to do that.”

As Nicoll related the events that have felt like an episode of the surreal sci-fi series “Black Mirror” since Musk came into his life two years ago, his excitement was palpable. What emerged was the outline of a legitimate plan in which Musk’s impatience to make Dogecoin the world’s most-used cryptocurrency is readily apparent.

Musk and Doge: A Marriage of Wow

To the outside world, until last week, Musk was Bitcoin’sanointed cheerleader, the one who could take the world’s first cryptocurrency truly mainstream, afterTesla’s $1.5 billion Bitcoin buy earlier this year.

Sure, hell-raiser Muskloved to tweet about Dogecoin. But that was just for laughs, right? At least, that’s what Bitcoiners and many in the industry told themselves.

Dogecoin devs. Nicoll would love to see developers work on projects like the long-awaitedDogethereumbridge, and decentralized finance (DeFi) projects to bring smart contracts to DOGE.

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’s1.21 upgrade—the biggest since 2019, and a foundation for all the changes to come.

In order for the upgrade to be approved and the fee reduction to come into effect, the proposal must be able to win community support, including from Dogecoin miners and node operators.

Further down the road, Dogecoin developers and Musk are planning to introduce even lower fees of 0.01 DOGE.

While the SpaceX CEO has been deemed “Dogecoin CEO” since 2019, Musk has been advising the developers behind Dogecoin since then.

Musk has encouraged the team behind the meme-based cryptocurrency to improve higher transaction throughput and also provided plenty of advice and input, according to Dogecoin developer Ross Nicoll.

Although Musk offered to fund Dogecoin development, the team turned down the offer. In mid-May, the Tesla CEO tweeted that he was working with Dogecoin developers while deciding to halt accepting Bitcoin as payment at his electric vehicle company.

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.
Why would we do a more frequent upgrade? That seems crazy,” he said.

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 onsmart contractsfor the enterprise blockchain projectR3, working closely with commercial banks. He also had a brief stint working on the breakthrough NFT projectCryptoKitties.

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.

“We’re not trying to absorb massive amounts of money making developers millionaires or billionaires,” he said. “We’re not trying to reinvent technology that 3,000 other blockchains have already reinvented.

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