Dogecoin will become a widely accepted payment method when there is a 10-fold increase in its block time and block size, and its transaction fees become 100th of its current amount. The good news is that the new upgrade might make these goals a reality once they are complete. The Dogecoin developers tweeted an update regarding the upgrade.
A Reduction In DOGE Fees Is The Main Focus Of This DOGE Upgrade.
Apart from reducing transaction fees, the upgrade will also provide incentives for node operators to charge miners lesser fees. This upgrade (v1.14.5) is 98% finished, while 0.01 DOGE for each kilobyte is the suggested block inclusion fee based on the GitHub update.
The aftermath of this upgrade is that DOGE’s use cases will become more extensive. The DOGE ecosystem is hugely excited about this news. One of them told his social media followers that this development would lead to scalability and broader adoption for Dogecoin.
DOGE Price To Start A New Bullish Run
One of DOGE’s famous enthusiasts, Matt Wallace, tweeted that this upgrade is significant towards DOGE being the earth’s currency. This upgrade is a response to Elon musk’s suggestion that a significant reduction in DOGE fees is the next major step for doge.
Even though the signs look promising, it might take a while before DOGE can make significant gains as envisaged by its community. As of this writing, DOGE has gained 9% over the past 24 hours and now trades at about $0.2735.