Dogecoin (CCC:DOGE-USD) is continuing its summer rebound. The meme coin, which saw stunning price momentum in spring and devastating losses in May and June, is moving back up into the 30-cent valuation. Much of the resurgence is around a general bullishness on the crypto as a medium of transaction; however, today’s Dogecoin crypto news, centered around long-awaited upgrades to the Dogecoin network, are the culprit behind recent gains.
The Doge network saw a key upgrade on Friday. No, it’s not the huge restructuring that investors have been hoping for since early this summer. But, it’s the upgrade that primes the network for the full implementation of the teased restructuring. So, what about this recent 1.14.4 network upgrade is so important to the future of Dogecoin? Here’s what you need to know.
Dogecoin Crypto News: Doge Network Ready for Fee Restructuring
- Firstly, there have been a slew of minor fixes made to the network through the newest upgrade, called Dogecoin 1.14.4. The upgrade is currently optional for users, although developers strongly recommend it ahead of looming, larger changes.
- Among these changes are a fix to a synchronization bug, in which nodes would send loads of unnecessary data alongside transactions, slowing transaction times and wasting energy.
- The upgrade also implements a new call function filter in the Doge protocol, allowing users to more easily diagnose any issues relating to transactions.
- It will also allow users to import private keys, the data that proves a users’ ownership over the funds they are moving on the blockchain.
- More minor fixes include improvements to non-English translations on the network, security upgrades and some interface upgrades.
- Of course, the most significant of these upgrades is the fee-reduction structuring. The Dogecoin developers have teased fee reductions for the network since an upgrade proposal back in June.
- This current upgrade will not implement the fee changes just yet. However, it prepares the network for the larger upgrade, which will actually implement the fees, coming soon. Friday’s changes are considered part one of a two-part update.
On the date of publication, Brenden Rearick did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
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