Vitalik Buterin, creator of Ethereum, talks about having a secure Doge to Ethereum bridge. Elon Musk replied to the same saying, “pretty much.” This could mean that Elon and Vitalik could partner and have a Dogecoin and Ethereum collaboration. Considering the popularity of both Doge and Eth, both of them are going to benefit from this. At the same time, the security problem in Dogecoin can be mitigated easily.
Dogecoin and Ethereum collaboration
There was recently an interview with the co-founder of Ethereum, Vitalik Buterin. In the interview, Buterin said that it is really powerful that Elon Musk is pushing for the development of a cryptocurrency. To this, the interviewer asked if there some way that the same can be used for the development of Ethereum. Buterin replied that if Doge can be bridged to Ethereum, then people can use Doge much faster than right now.
He also said that he is not against Dogecoin and wants investors to think of Ethereum as kind of dogecoin. Buterin added if the bridge between Doge and Eth is established, then when Ethereum gets scalability, people will be able to trade wrapped Dogecoin with very low fees and high speeds. The Ethereum and Dogecoin collaboration will be a boon for the meme coin hodlers.
Vitalik also cleared that it will be unwise to think that Elon has any ill intentions behind promoting Dogecoin so much. He said that Musk is a simple man just like he is, and both of them like dogs. This also suggests why Musk likes to call himself the Dogfather. After the interview, Elon said that he agrees with what Vitalik has to say.
Ethereum upgrades are coming!
As a coin, Ethereum is doing great and is the only one that has the chance to flip Bitcoin right now. At present, it is based on a proof of work system but will move to a proof of stake system quite soon. It is important to know that Ethereum is also going to implement sharding which will improve the transaction speeds by a huge margin. At the same time, this new version of Ethereum will be environmentally friendly because of the staking mechanism.
These upgrades could be a major benefit for Dogecoin too. When it was made, the idea was not to make it a financially successful coin but just a meme. So, much thought was not put behind the mechanism, which is why an upgrade like this will be huge.
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