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Elon Musk’s plan for Dogecoin means the use of Blockchain technology and Dogecoin digital currency in order to achieve some goals of sustainable development and hidden society. To understand Elon Musk’s plan for Dogecoin and the reason for his interest in this currency, stay with us on Pooyan Music site.
Founder Elon Musk published a tweet on his Twitter page in January 2021. He stated that the achievements of OpenAI, Tesla, Hyperloop and Neuralink are a dream for me. But I like Dogecoin. This tweet started the creation of Elon Musk’s plan for Dogecoin.
In the following days, everyone’s eyes turned to Dogecoin and Elon Musk, and the price of Dogecoin increased. Elon Musk has also supported the guidelines for some changes to smart contracts in Dogecoin.
Elon Musk’s plan for Dogecoin includes supporting better design and development for Dogecoin, implementing some changes in Dogecoin through smart contracts and increasing public awareness about Dogecoin to attract the largest number of people to this digital currency.
Dogecoin digital currency or DOGE for short is one of the first and most popular digital currencies. This currency was founded in 2013 by Jackson Palmer and Billy Marcus and is based on blockchain technology. The main goal of establishing Dogecoin was to create a low-cost and fast digital currency.
Dogecoin uses the Proof-of-Work algorithm to verify transactions. The number of available coins of Dogecoin is more than 130 billion, which is the highest level of distribution for any digital currency. This is a distribution to reduce the effects of adjustment
Dogecoin initially appeared as a joke, but has since become a serious currency discussion and activity. As one of the digital tokens in the market, Dogecoin can be used for online transactions, financing and even as a means for some charities. Also, this digital currency is known as a global currency using the social network Reddit and Twitter.
Elon Musk’s plan for Dogecoin
One of the reasons for Elon Musk’s interest in Dogecoin is that he belongs to the technology and innovation industry. Elon Musk is the founder and CEO of companies such as Tesla (Tesla), SpaceX (SpaceX) and Uplink Honey City (The Boring Company), all of which are active in fields such as electric cars, clean energy and space. Because of the innovation and technology used in these companies, Elon Musk is looking for issues that are likely to create major improvements and change industries.
Therefore, due to the high power of cryptography (based on blockchain technology) and the ability to store information securely, Elon Musk is interested in Dogecoin. He probably believes that this technology can help solve problems such as international financial transactions, identity validation, and even Internet security problems. In addition, Elon Musk can reduce the possible influence of geopolitical forces with the help of this technology.
Another reason could be the lack of central intermediaries such as banks in the blockchain system. Elon Musk, as an entrepreneur with a relatively liberal attitude, wants to get rid of the central filing for fees and the document written on the white paper. Also, the issue of reliability in the operating system, such as using unknowns or adding weight to the supply, is also an important issue. Due to the extraordinary processing power of the blockchain, it is not possible to change the history of transactions or the financial history of people, and this issue is especially important for political variables.
