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Elon Musk joins Dogecoin bandwagon; steps down after being ‘elected’ its ‘CEO’

Jibin M George

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Elon Musk climbs the Dogecoin bandwagon; steps down after being 'elected' its 'CEO'
Source: Pixabay

April Fools’ Day saw the cryptocurrency community, including major crypto-projects and proponents, embracing the whimsies of the day. Elon Musk and his affair with the Dogecoin project was yet another episode in a series of popular pranks for the day. Weeks after calling Bitcoin ‘brilliant,’ the Tesla Founder was full of praise for the ‘joke currency,’ Dogecoin.

It all began after the Dogecoin project posted a poll on April Fools’ Day, asking the cryptoverse to elect its next ‘CEO.’ Elon Musk was chosen by 69% of the community, beating candidates like Vitalik Buterin, Justin Sun, and Marshall Hayner, to “lead Dogecoin into the future, while maintaining the project’s core values.”

The SpaceX Founder was quick to take in the plaudits, while also showering appreciation of the Internet’s favorite meme-worthy cryptocurrency. He tweeted,

“Dogecoin might be my favourite cryptocurrency. It’s pretty cool.”

The meme coin welcomed the results of the poll, and tweeted,

Source: Twitter

That wasn’t all! Elon Musk soon joined in on the act and updated his bio to state,

“Former CEO of Dogecoin.”

Source: Twitter

While it isn’t clear yet why Musk chose to step down as Dogecoin’s ‘CEO,’ it is speculated that Musk finally got his hands on a calendar and realized that the joke had stretched out far longer than necessary.

Either way, it would seem that Elon Musk has added another feather to his cap. Not only can he claim to be the Founder of revolutionary companies such as Tesla and SpaceX, but he can also proudly declare himself as the winner of an April Fools’ Day poll conducted by the Internet’s favorite coin.



To be fair to Musk, it isn’t a bad time to get on the Dogecoin bandwagon. The 25th ranked cryptocurrency on CoinMarketCap has risen by 25% over the last 7 days, and was valued at $0.0031, at press time. It had a healthy market cap of $376 million too. For a ‘joke currency’ with a Shiba Inu as its mascot, those are some pretty serious numbers.

Jackson Palmer, the creator of the meme coin, wasn’t away from the April Fools’ Day cheer as he jokingly suggested that he may be considering the sale of Dogecoin.com. Belated April Fools’ Day proposal or not, Elon Musk should probably give Palmer a call. Maybe he can add that to his Twitter bio too.

Source: Twitter

 





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Binance Chain’s ‘decentralization’ questioned by Bitcoin enthusiast; calls Binance DEX just an app

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Binance Chain's "decentralization" questioned by Bitcoin enthusiast; calls Binance DEX as just an "app"
Source: Unsplash

Udi Wertheimer, an independent developer and a “Bitcoiner” posted a series of tweets taking a jab at Binance Chain, which is slated to launch on April 23.

According to Wertheimer’s tweets, Binance has not updated the “source code” or “binaries” for the Binance Chain; and despite enquiring about it on the official telegram group of Binance, he was offered any source code.

He said that Binance recommended users, who want to migrate tokens to Binance chain, use the official SDK, which will be done via official HTTP API using Binance’s trusted servers. Binance DEX, which will make use of the Binance Chain, also has no source code or binaries which are open source. He stated:

“There’s almost nothing there. So I looked for the source code. Guess what, THERE’S NO SOURCE CODE. They only have binaries, and only for a light client, no full node at all!”

He commented on the Binance Chain and the Dex that all Binance did was release an “app that connects to the API of your new centralized infrastructure”. In addition, the “Light Node” is a program that helps users access and interact with the Binance Chain in a secure and decentralized manner; the source code for which is “closed source” according to Wertheimer.

Wertheimer further added:



“Just releasing the binaries won’t be enough, and there’s no indication I could find anywhere that they intend to release the source code, like, ever. In any case, regardless of what may happen in the future, what’s released so far amounts to nothing more than a new website.”

A Twitter user, @bag_holder commented:

“Lol seems like a very Chinese thing to do. “BORROW” IP, make some edits, then keep it to oneself”

Another Twitter user, @thecryptostefan commented:

“There’s a branch with the full node implementation, no? I thought they just hadn’t merged it to master yet when I was looking last night. I think it’s the prerelease branch or one of those.”





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