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Dogecoin on the Cusp of Implementing Elon Musk-Supported Upgrade

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Mon, 11/08/2021 - 08:00
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Alex Dovbnya
The original meme cryptocurrency is getting a major upgrade
Dogecoin on the Cusp of Implementing Elon Musk-Supported Upgrade
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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.

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.

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The fee reduction proposal had to gain support within the community since Dogecoin is a decentralized cryptocurrency.

Apart from cutting transaction costs, the release also contains several fixes for high-severity vulnerabilities that affect the majority of Dogecoin Core users.

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.