Will Musk and Buterin update Dogecoin? This crypto expert thinks so

Will Musk and Buterin update Dogecoin? This crypto expert thinks so

One of the most well-known names in the cryptocurrency industry, David Gokhshtein, recently revealed on Twitter that he foresees Tesla, SpaceX, and Twitter CEO Elon Musk teaming up with Ethereum co-creator Vitalik Buterin to work on improving meme king Dogecoin. Gokhshtein is a well-known

 

Gokhshtein is convinced that these two cryptoverse heavy hitters will not collaborate on bitcoin despite their prominence in the industry.


Is a Collaboration Between Elon and Buterin on Dogecoin on the Horizon?
David Gokhshtein anticipates that Dogecoin will be improved through the collaboration of Dogefather Elon Musk and Vitalik Buterin.

It's possible that the creator of Gokhshtein Media, who is also a previous candidate for the United States Congress, came to this conclusion after hearing Buterin's statements on the Shiba Inu-themed meme coin. In September of last year, he advocated that the security system for Doge be changed from its present proof-of-work (PoW) method to a proof-of-stake (PoS) system utilizing the code for Ethereum. The Ethereum wiz reinforced this point when giving a presentation in September at the Messari Mainnet Summit 2022.


It is interesting to note that the Dogecoin Foundation was revived in October of last year, and Buterin and Tesla representative Jared Birchall were both brought on board as advisers at that time. Buterin's father, Dmitry, made the observation at the time that his son's participation was a favorable development since it had the potential to assist DOGE in becoming a stronger currency.

 

After a Merge event that was successfully carried out, Ethereum has just made the switch from an energy-intensive consensus method known as PoW to a consensus mechanism known as PoS, which does not rely on the accumulation of specialized mining machines.


On the other hand, Elon Musk has been collaborating with developers of the dog-inspired cryptocurrency DOGE for years now to make it a more environmentally friendly and cost-effective alternative to bitcoin. After his dramatic $44 billion takeover of Twitter, market analysts now anticipate that the electric car tycoon who now owns Twitter will soon incorporate Dogecoin into the world's largest social media platform. The level of hands-on involvement that Musk had with the cryptocurrency that began as a parody has remained a mystery up until this point.

Even while Musk seems eager to launch Dogecoin into orbit, we should not anticipate that he would collaborate on the development of the standard cryptocurrency with Buterin or any other leader in the field.

It's Highly Unlikely That Musk Will Ever Collaborate With Buterin Regarding Bitcoin
Despite the fact that Dogecoin was introduced in 2013 as a retort to bitcoin, Elon Musk has decisively abandoned the industry benchmark. According to Gokhshtein, the richest man in the world has no interest in collaborating with Buterin, who is responsible for Ethereum, on the development of bitcoin.

Musk never showed the leading cryptocurrency the same love he initially did during the time when his electric car company purchased $1.5 billion worth of the asset, despite the fact that he made a promise that Tesla would restart BTC payments once bitcoin mining became a greener industry. Despite this promise, Musk has never shown the cryptocurrency the same love.


Gokhshtein is of the opinion that Musk's objective is to transform the "funny currency," which has been doing very well thanks to his support, into "something serious." However, despite the weight of his endorsement, the price of the meme currency is presently trading at a level that is 87.9% lower than its all-time high of 73 cents, which occurred in May of 2021.


Ojike Stella

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