Crypto adoption

Elon Musk Says Dogecoin Outperforms Bitcoin

Dogecoin has generated 5 billion while Bitcoin has generated 21 million BTC in one year.

Dogecoin was created to be the ultimate cryptomeme currency. But the founder of SpaceX and Tesla, who is also the richest person on the planet, took it seriously.

Dogecoin was created in 2013 by two software engineers, Billy Marcus and Jackson Palmer, from a simple joke. These two merged two of the biggest trends of that year to develop a brand new cryptocurrency.

Marcus and Jackson wanted to create a crypto asset that was accessible to the general public, so they designed Dogecoin with open source software that allows anyone to view the source code.

Dogecoin originated as a fork of Luckycoin, which in turn was a fork of Litecoin, which in turn was derived from a fork of Bitcoin. In short, the history of Dogecoin goes all the way back to Bitcoin, although they are two completely different cryptocurrencies.

SpaceX accepts Dogecoin

Dogecoin’s staunch supporter, Elon Musk, claimed in an interview with Full Send Podcast that the Dogecoin blockchain can process more transactions per second than the Bitcoin blockchain. He added that several major transportation services, including Tesla and SpaceX, now accept Dogecoin as a form of payment.

Musk found that Bitcoin transactions take about 10 minutes, while Dogecoin transactions are completed in just 60 seconds. According to Musk, this justifies Memecoin as a good payment method.

Currently, nearly 2,000 businesses accept Dogecoin as a payment method. From luxury cars on to travel offers on, you can use Dogecoin to buy all sorts of goods and services. You can even convert and spend your Dogecoins via a prepaid Mastercard offered by Bitpay, which can be used anywhere that card payments are accepted.



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