Elon Musk tweeted that he will work with the Dogecoin team to reduce mining energy consumption
Yesterday, Elon Musk announced that Tesla would suspend accepting Bitcoin as a payment method because the Bitcoin mining process consumes too much fossil energy.
There are data showing that more than 70% of the current Bitcoin network’s computing power uses fossil energy, more specifically, coal-fired power plants are used as fuel.
At present, many countries or regions around the world are working on carbon neutrality, but the thermal power used in the field of cryptocurrency mining such as Bitcoin is emitting a large number of greenhouse gases.
This is also true of Tesla’s suspension of accepting Bitcoin payments and expressed the expectation that the industry can switch to sustainable clean energy and may resume Bitcoin payments in the future.
Affected by this bad news, the price of Bitcoin has plunged sharply. However, it is worth noting that Elon Musk tweeted to vote for Dogecoin payment earlier.
“Elon Musk Dreaming of a Brighter Future” by jurvetson is licensed under CC BY 2.0
Earlier this morning, Elon Musk once again tweeted that he would work with the Dogecoin team to reduce mining energy consumption. Dogecoin immediately rose sharply after the news was released.
Working with Doge devs to improve system transaction efficiency. Potentially promising.
— Elon Musk (@elonmusk) May 13, 2021
Dogecoin, which was born as a joke, has long since left the original project team, and its founder has already emptied all Dogecoin and is no longer responsible for the maintenance of Dogecoin.
However, Elon Musk is very optimistic about Dogecoin and has repeatedly tweeted it as a Dogecoin platform. This is exactly what happened since the beginning of the year and the continuous surge of Dogecoin has attracted people’s attention.
This time, Elon Musk said that he wants to cooperate with the Dogecoin team. In fact, there is some meaning, that is, in the future, Tesla may introduce Dogecoin as a payment method for car purchases.
