The demand of many blockchain users, whose numbers continue to be on the rise, at least recently, has started to force many Blockchain protocols to upgrade their network. Such development is towards the meme-based Dogecoin, whose developers have now announced a new upgrade to the protocol. The Blockchain has now released a new software called Dogecoin Core version 1.14.3, which is expected to outperform the current ones being used by many of its users. Surprisingly the software has not received any upgrade since 2019, but the growing interest in the Blockchain has now forced its developers to create something new.
New upgrade set to improve the overall performance of the Blockchain
The cryptocurrency has been the subject of interest from many famous figures on social media, especially Tesla’s CEO Elon Musk, who at one time claimed to be the founder of the token. The actions of Musk have now increased the interest of many in the cryptocurrency, as the prices of its token have seemingly taken a right turn. This has now resulted in the new proposed upgrade of the project, initially created as a joke by its developers in 2013. The lead developer of the project, Ross Nicoll, believes that this is the right time for the project to receive an upgrade, as the last software had begun to malfunction.
Before this, the previous update had created several problems for its users, ranging from slow transaction speed to several scalability issues. Nicoll believes that the challenges mentioned earlier have now spurred the Blockchain to build something futuristic. In the developer’s explanation, the new update will eliminate integrity checks deemed to be slowing down the movement of nodes in the Blockchain. According to Ross Nicoll, the new upgrade also focuses on improving scalability and transaction speed, a problem that has lingered for too long.
Dogecoin is now the 14th largest cryptocurrency in the world
The need for an upgrade to the network must have begun when Elon Musk and Co. started flirting with the network. This has now increased to investors and users of the Blockchain, which many didn’t predict will become this popular a few years ago. However, as things stand, the cryptocurrency is slightly outside the top ten most valuable cryptocurrencies globally, as it sits at 14th position. The success is remarkable for the Blockchain, whose market capitalization stands at about $6.6 billion.
With a rise in fortune of more than 6% in the last 24hours, the token currently trades at about $0.051, with a 24hour trading volume of close to $1.5 billion. The cryptocurrency is still far from the $1 mark, but its investors salivate at the token’s idea hitting the mark by the end of the year. However, that should not take the cryptocurrency community’s eyes away from the cryptocurrency that has done well and is expected to reach several all-time highs before the end of 2021.