Elon Musk recently talked about the future of Dogecoin: “BTC and ETH are pursuing a multilayer transaction system, but base layer transaction rate is slow & transaction cost is high.
There is merit [in my opinion] to Doge maximizing base layer transaction rate & minimizing transaction cost with exchanges acting as the de facto secondary layer.”
He was asked if the DOGE network would need to be capable of settling transactions at the same speed as the Visa network, Musk responded that DOGE will not have to compete with Visa’s speed.
“It won’t need to reach Visa speed, as regulated exchanges will act as de facto second layer. But the perfect should not be the enemy of the good – it is still good to increase base layer transaction speed & lower base layer transaction cost.”