Surprising Idea Hits the Crypto World: Charles Hoskinson Wants to Upgrade Dogecoin (DOGE)

A surprising idea just hit the crypto world. The creator of Cardano (ADA) wants to upgrade Dogecoin, suggesting it could be much more advanced.

In a surprising turn of events, the creator of Cardano (ADA) has pitched the idea of upgrading Dogecoin (CRYPTO: DOGE).

What Happened: The possibility of merging the meme coin with Elon Musk’s X platform was raised by Charles Hoskinson, the founder of Cardano, in a recent post.

"Hey @elonmusk, you want to fix up doge and make it the standard currency of X? I have the old Bitcoin 2 roadmap I wrote up years ago. It might be a good starting point. Or we could use the Ergo chain and build a new one. A few devs could do it in a few months," Hoskinson stated on Threads.

The post included a snapshot of a blog post titled "Bitcoin 2: A Second Generation Cryptocurrency," which Hoskinson claimed was written in 2015. The post focused on improving Bitcoin's technology with features like smart contracts, a decentralized governance system, and a new PoW algorithm.

"We could also just take the best parts of the Ergo chain, make a minimal chain, and then fork Dogecoin. That would probably be the simplest and fastest path. Then we'd get state channels for super-cheap tipping, full smart contract support, and the coin would be quantum resistant—or not, that's a question for the Dogecoin community to decide," Hoskinson added.

Despite mentioning that he does not personally own any Dogecoin, Hoskinson expressed interest in the project as a "sidequest."

"I'm not a fan of sides, but I do like to have fun. And this seems like it could be fun," he said.

See More: Best Meme Coins To Buy

Why It Matters: The suggestion comes as X, the platform formerly known as Twitter, is applying for licenses to operate as a money transmitter in the U.S., hinting at a potential move into financial services.

Earlier this year, Musk teased the possibility of Dogecoin becoming a payment method on X, and the platform is already testing out features like state channels for cheaper transactions.

However, directly integrating Dogecoin could pose challenges, especially with the coin's large supply and the requirement for significant mining power to maintain the PoW system, which might not align with Grok AI's heavy computational needs, as pointed out by Hoskinson.

Despite the technical hurdles, the idea of upgrading Dogecoin and introducing it on X has certainly sparked interest among crypto enthusiasts.

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