One of the DOGE developers spoke about the collaboration with Musk
Dogecoin team refused funding from Elon Musk, deciding to use the knowledge of the billionaire, and not his money. Working as a team, they strive to make cryptocurrency a more “green” and cheaper counterpart to Bitcoin.
One of the Dogecoin developers, Ross Nicoll, revealed that back in 2019, Musk approached the DOGE team with a request to update transaction throughput and put forward his own options for solving this problem. He also shared personal contacts and offered to fund the developers. However, they gently declined. They did the same with another lucrative offers from large investors in the future. Since then, the billionaire has occasionally chatted with them and was elected “Honorary CEO of Dogecoin”.
Nicoll stated that DOGE's current energy consumption is 7% of Bitcoin's and they are aiming to make it even lower. Today, the team is working on the biggest 1.21 update since 2019 and aims to lay the basis for future blockchain improvements. In the update, Nicoll said they focused on the speed of synchronisation on the client-side and guaranteeing the “eternity” of wallet backups, as opposed to the DOGE integration for service providers. The next global goal for developers lays in reducing transaction charges from a median of $0.4 to $0.01.
The coin created in 2013 as a joke, did not bring one of its creators, Jackson Palmer, a cent, while the other, Billy Markus, earned only for the purchase of a Honda Civic. Since then, Palmer has tried not to discuss the future of the project in public. However, this Thursday he called Elon Musk “a narcissistic swindler,” and subsequently removed his post. As for Markus, in February he stated that the growth of DOGE tokens was “pointless” and “super absurd”.
Considering the number of people whose gaze is now turned towards the "far-reaching joke", it becomes clear that it is unlikely to "collapse" in the near future. Especially now that he is under the wing of one of the richest people on the planet.