Elon Musk is at it again with yet another Tweet that has him riling up crypto investors. This time the target in his battle to send Dogecoin (CCC:DOGE-USD) to the moon is Ethereum (CCC:ETH-USD) co-creator Vitalik Buterin.
This all started when Buterin posted an entry to his blog over the weekend discussing the limits of blockchain scalability. In that blog, he discusses the risk of growing a blockchain while not keeping it decentralized enough.
Buterin posted this blog entry in response to an earlier Tweet from Musk. In this Tweet, Musk said “Ideally, Doge speeds up block time 10X, increases block size 10X & drops fee 100X. Then it wins hands down.” This was him responding to another Twitter (NYSE:TWTR) about the advantages of DOGE over Bitcoin (CCC:BTC-USD).
Here’s a portion from Buterin blog post about scaling up a blockchain and the possible issues it could run into.
“There are two ways to try to scale a blockchain: fundamental technical improvements, and simply increasing the parameters. Increasing the parameters sounds very attractive at first: if you do the math on a napkin, it is easy to convince yourself that a consumer laptop can process thousands of transactions per second, no ZK-SNARKs or rollups or sharding required. Unfortunately, there are many subtle reasons why this approach is fundamentally flawed.”
Elon Musk’s latest Tweet concerning Dogecoin comes after Cointelegraph ran an article about this blog post. Musk responded to the article on Twitter with the following Tweet.
He fears the … pic.twitter.com/78WzM5ICjA
— Elon Musk (@elonmusk) May 24, 2021
And this is where the talk that ETH co-founder Buterin fears Dogecoin is coming from this morning.
DOGE was up 12.2% and ETH was up 24% as of Monday morning.
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.