Musk recently called on Doge founder Jackson Palmer to help find a solution to scam spamming that has become a major problem in the cryptocurrency industry. Twitter bots and other scammers have impersonated key personalities such as Charlie Lee of Litecoin, Vitalik of Ethereum and even the Pope on twitter and ran campaigns claiming to give away digital currencies. In May this year, Jackson introduced a script that is able to identify and automatically block ETH giveaway scammers from using profiles of popular figures to run phishing activities.
Elon Musk is a revolutionary. From starting companies and projects such as Paypal which he later sold, Tesla, SpaceX, and the hyperloop, he has relentlessly pushed for adoption of new technologies that bring radical solutions to today’s challenges. One of his greatest successes has been with Tesla which produces technologically advanced fully electric vehicles with self-driving features way ahead of the competition. And he has now dived into the cryptocurrency industry as well.
Musk, despite revealing earlier in the year that he held no cryptocurrencies, expressed his concern over the issue. Following an attempt by a scammer claiming to issue crypto give away in the name of Musk and Tesla, the CEO approached Doge (DOGE) founder for a solution which Jackson promptly provided. This brought to light Dogecoin’s characteristics that likely drew Musk to its founder for a solution. The coin has had a relatively domant media presence since 2015 when it gained popularity for support of the Jamaican team at the winter Olympics, several water projects in East Africa and sponsoring NASCAR driver John Wise. The recent interaction with musk has created a renewed interest in the coin and some of the features that make it stand out among its peers.
Dogecoin platform is built with simplicity in mind. Its community is very supportive and its roadmap is clearly defined and effective allowing enthusiast to participate and keeps track of the developments. The team is led by a founder who clearly understands the challenges faced by cryptocurrencies and who is pro-active in developing solutions to these problems. Musk is a vocal a respected innovator globally. His openness and ability to seek solutions has earned him a great following and is an inspiration to many. His confidence in Jackson is likely going to inspire confidence in the coin among the public as well which is important for the coin to be able to attain mass adoption.
The Dogecoin (DOGE) is the 20th largest cryptocurrency with a market cap of USD 663.6 million. The coin has grown by over 230% over the last one month while transaction volumes have grown by more than 1250% over the same period.