By Alicia Maher
Based on the latest update from the Dogecoin Core development team, the staff is nearly finished with the launch of Dogecoin Core 1.14.5, a new core edition update that will bring the much-anticipated fee decrease for all network members to a close. “Our version of Dogecoin Core 1.14.5 has been labeled (akin to “becoming gold” in the world of open source), and we’re currently performing the Gitian setup to prepare it for release. It isn’t finished until we have confirmed that the construction is sound, but it will be finished soon.” – Dogecoin Developers (@dogecoin devs) On November 7, 2021,
The suggested block insertion cost in the core wallet has been reduced to 0.01 DOGE (about $0.002) per kilobyte as a result of the new upgrade. As of version 1.14.4, the network began accepting low transaction costs by design, which implies that third-party accounts such as Exodus and Ledger would be able to support lower trading fees as well. Elon Musk, the CEO of Tesla, has expressed his backing for lowering Dogecoin’s trading fees on several different occasions.
According to him, such an enhancement would aid in the transformation of Dogecoin into a usable payment method. “To make activities like purchasing movie tickets viable, Doge fees must be reduced.” – Lorde Edge (@elonmusk) on September 22, 2021 (via Twitter).
Because Dogecoin is an autonomous cryptocurrency, the fee decrease initiative is needed to obtain support from the wider community. Aside from lowering operation fees, the new update includes several solutions to high-risk flaws that affect the vast populace of the Dogecoin user base, according to the developers.
Dogecoin Co-Founder Speaks On Crypto Hype
Dogecoin inventor Billy Markus has resorted to Twitter to denounce the enthusiasm that often accompanies cryptocurrencies and is exploited by those looking to make quick money by riding the wave of popularity. Elon Musk expressed his support via Twitter.
Markus claims that the enthusiasm does not continue long since these “get rich quick” individuals sell their cryptocurrency as soon as they attain their target and then bail out. When they notice a new wave of excitement approaching, they jump on board as well. According to Markus, to hold cryptocurrency or any other asset that is expected to be worth more in due time than it is worth at the moment, the cost must be added to it.
Elon Musk, the CEO of Tesla chimed in with a statement, as he frequently does. He expressed his support for Markus’ stance in a letter. “Hype^Hype” – Elon Musk (@elonmusk). The 4th of November, 2021
Elon Musk has indeed been assigned to the position of fictitious chairperson of the DOGE management board. While he desired to be the fictitious CEO of DOGE, this position was awarded to Kabosu, the Shiba Inu dog who served as the inspiration for the birth of Dogecoin.