Dogecoin Core 1.14.5, a new minor version release that finalizes the much-hyped fee reduction for all network participants, is almost finished, according to the most recent update from the team of developers.
Dogecoin Core 1.14.5 has been tagged ("gone gold", but for open source), and we're running the Gitian build process for it now. It's not done until we verify the build is good, but sooooon https://t.co/s3NolYxbI1— Dogecoin Developers (@dogecoin_devs) November 7, 2021
With the new upgrade, the recommended block inclusion fee is set at 0.01 DOGE (roughly $0.002) per kilobyte in the core wallet.
While the network started supporting low fees with 1.14.4, it will now adopt them by default, which means that third-party wallets of the likes of Exodus and Ledger will support cheaper transactions.
Tesla CEO Elon Musk has voiced his support for reducing Dogecoin's transaction fees on multiple occasions.
In his opinion, such an improvement would help to turn Dogecoin into a viable means of payment.
The fee reduction proposal had to gain support within the community since Dogecoin is a decentralized cryptocurrency.
Super important for Doge fees to drop to make things like buying movie tix viable— Lorde Edge (@elonmusk) September 22, 2021
Apart from cutting transaction costs, the release also contains several fixes for high-severity vulnerabilities that affect the majority of Dogecoin Core users.