Will Elon Musk’s D.O.G.E Choose Cardano To Track Government Spending?
The prospect of the Elon Musk-led Department of Government Efficiency (D.O.G.E.) adopting Cardano as its preferred blockchain is fueling discourse in the community. Despite its lower ranking on different metrics, key proponents believe it can help the US track government spending better.
Cardano, Elon Musk and D.O.G.E.: The Compatibility
In his new position as the lead of D.O.G.E., Elon Musk once voiced his intention to integrate blockchain to aid its mission. Since he made the announcement, the community has constantly debated which protocol has more probability of being adopted by the new department.
Members of the Cardano ecosystem have spotlighted its advanced decentralized technology. Responding to a post from Farzad on why Americans want D.O.G.E., X user Darren Kelly agreed on the principles that D.O.G.E represents. However, he hinted on X, at the need for transparency, pitching that the US Treasury spending should be on a public ledger.
Kelly echoed a sentiment similar to that of other community members. He believes Cardano is the right pick for the mission. Cardano is considered a good fit as it has implemented more advanced technologies over the past year.
Top on the list of these technologies is the Plomin hard fork, which ushered in an entire community government system. Should Elon Musk choose Cardano, proponents believe he might achieve the goal of democratizing government spending.
Cardano and Competing Rivals
While the trust in the technical capabilities of Cardano is high, competing blockchains Ethereum and Solana are also on the radar. As the most prominent smart contract protocol, many users consider Ethereum a favorite.
Considering its popularity with the President Donald Trump family, Solana is also a prime candidate. Earlier in January, the Trump family launched TRUMP memecoin on Solana, generating massive buzz within the ecosystem. Despite the drop in hype, TRUMP whales have continued to buy the token.
Meanwhile, Solana is plagued by occasional downturns, which might not be ideal for a nationally adopted chain.
Cardano Founder Charles Hoskinson has formally pitched to help D.O.G.E. While the proposal is yet to be accepted, it remains on the frontline with the billionaire.
More proponents of Cardano have outlined key reasons why it remains the prime candidate. This includes more than 7 years of uptime, peer-reviewed innovations, and design for regulatory compliance.
ADA Price Amid Potential D.O.G.E. Boost
There are propositions that the price of Cardano (ADA) may be positively impacted if the D.O.G.E. collaboration is confirmed. When writing, the ADA price changed hands for $0.7012, up 2.70% in the past 24 hours.
Per an earlier ADA price analysis, the chances of the coin jumping to $2 are high per the development regarding Cardano-D.O.G.E. adoption.
The post Will Elon Musk’s D.O.G.E Choose Cardano To Track Government Spending? appeared first on CoinGape.
