Elon Musk Says A Dogecoin-Ethereum Bridge Is Not Needed
Elon Musk’s support of Dogecoin has been a very public one, eventually leading the meme coin down one of the most impressive rallies in the history of the crypto market. The billionaire has not relented in his support for the digital asset too despite the decline over the last couple of months and has confirmed that he does indeed hold the token with no plans to sell it anytime soon.
Musk has also been in support of various strategies to push the cryptocurrency into the mainstream. However, a recent suggestion from Dogecoin creator Billy Markus does not seem to sit well with the billionaire who has expressed this.
Musk Doesn’t Want Dogecoin-Ethereum Bridge
Mostly, major projects in the space want to bridge to the Ethereum blockchain. Ethereum which is the leading smart contracts platform attracts the best of the best given its wide network usage and purchasing power of its holders. Toeing this line, Dogecoin co-founder Billy Markus put forward a number of suggestions that would help to bring more utility to the meme coin.
things that add utility to #dogecoin:
1) businesses accepting doge
– the more it can be used as a currency, the better
2) using doge as a tipping currency
– the most pure use case that brings happiness
3) dogecoin / ethereum bridge
– allows doge to be used with web3
— Shibetoshi Nakamoto (@BillyM2k) April 24, 2022
While Musk had agreed with the majority of the proposed improvements by Markus, he had vehemently opposed the third on the list which happened to be a Dogecoin-Ethereum bridge. The bridge which Markus had suggested was in a bid to integrate the cryptocurrency into web3. This would allow the digital asset to be used by simply connecting a web 3 wallet to a website and interacting with it from there using dogecoin tokens.
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Additionally, it would also raise the utility of the token by allowing its widespread use of it in the minting, buying, and selling of NFTs.
Musk had however been against this Dogecoin-Ethereum bridge by saying it “isn’t needed.”
First one definitely, second is nice to have and third isn’t needed imo
— Elon Musk (@elonmusk) April 24, 2022
The utility of having a Doge-Ethereum bridge is obvious but it seems that the ‘Dogefather’ himself does not want this.
Doge Usage Growing
There has been the adoption of Dogecoin in various places just based on the popularity of the cryptocurrency alone. Mainly, businesses have tried to take advantage of its large user base who are always looking for new ways to help support the meme coin’s growth.
The latest of these is a Miami church that recently announced that it would begin accepting Dogecoin for donations. Florida’s First Miami Presbyterian Church will be the first to accept Doge donations and the announcement was made on Twitter in response to Elon Musk’s happy Easter tweet.
DOGE recovers to $0.13 | Source: DOGEUSD on TradingView.com
The church’s pastor Christopher Benek is seen posing for a picture with the Doge symbol in the background and “Donate with Dogecoin” scrawled above it.
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It is a welcome move for the Doge community who expects the meme coin to become one of the payment options on Twitter if Musk’s bid to buy the social media platform is eventually accepted by the board.
Featured image from Bloomberg, chart from TradingView.com