Elon Musk says he’s working with Dogecoin developers to make the cryptocurrency more efficient

Elon Musk says he’s working with Dogecoin developers to make the cryptocurrency more efficient

The day after as payment for its cars, Tesla CEO Elon Musk seemed to suggest dogecoin could become a more sustainable replacement. "Working with Doge devs to improve system transaction efficiency," Musk tweeted on Thursday. "Potentially promising." In his initial bitcoin , Musk said the company was looking for a more carbon-neutral replacement to the top cryptocurrency. to eliminate bitcoin purchasing options but to making the meme coin more environmentally friendly. The , has long been a Musk favorite and is known to consume less energy than bitcoin. The energy consumption of cryptocurrencies are linked to the calculations a computer goes through every time a transaction is processed or a new coin is mined. In those moments, thousands of computers race to verify the transactions — a process that relies on large amounts of electricity and computing power. While bitcoin consumes about for each transaction, dogecoin only , as it uses fewer calculations to mine and trade coins, according to TRG data. What's more, much of the energy used to mine for bitcoin comes from coal (the fuel that emits the most CO2) as a country where While dogecoin is more environmentally friendly than bitcoin, there are still , including