Charles Hoskinson, the inventor of Cardano, believes Dogecoin should become a Cardano sidechain and is eager to assist the meme currency move for free.
This comment was issued by Charles Hoskinson in response to a tweet wondering what will happen to Dogecoin after Elon Musk’s acquisition of the social media network Twitter.
According to Hoskinson, there is a chance that DOGE and Twitter may combine. When asked whether the meme currency will be turned into a proof-of-stake network, he responded: “Not at this time.”
“(Dogecoin) should be a sidechain of Cardano. I’d do the relocation free. Hell, I’d even include smart contracts.”
This comment is consistent with his past statements that Cardano would be a blockchain network with several sidechains linking to it.
Elon Musk’s several tweets praising the emergence of the meme currency were significantly responsible for its popularity. He also used it as a method of payment for Tesla’s products.
There were rumours that prior to purchasing Twitter, Elon Musk intended to assist in the deployment of Dogecoin on the social media network. With his ownership of the company, rumours of a future merger increase.
Although Elon Musk, CEO of Tesla has already made a few modifications to Twitter, he has yet to reveal his true intentions for the social media network.
Jane Manchun Wong, a tech writer, also reported that Twitter is developing a prototype wallet that handles cryptocurrency deposits and withdrawals.
Since Elon Musk assumed ownership of Twitter, Dogecoin has risen by 44.3% over the last week and is now trading at $0.085692. The DOGE bull movement is predicated on expectations of what Musk would do with Dogecoin now that he controls Twitter.
The $3.8 billion in 24-hour trading volume for DOGE indicates that numerous investors are now purchasing it. Its latest surge has returned it to the top 10 cryptocurrencies by market capitalization.
Similarly, Cardano ADA is up 5.2% in the last twenty-four hours and 16.1% in the previous week. ADA has risen in tandem with the current market advance.
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