Dogecoin (DOGE) is getting up to date – Will the enthusiasm last?

Dogecoin (DOGE) updates

According to a statement from the developers, Dogecoin Core 1.14.3 “is a minor update that includes significant performance improvements.” The most noticeable change is an improvement in synchronization speed, which facilitates the block verification process. The second major update is the expiration time of transactions cached in the mempool. It goes from 336 hours to 24 hours.

This is Dogecoin’s first update in years, as the project has been more or less abandoned. However, interest from new investors prompted developers to return to work on the blockchain. According to Ross Nicoll, the senior manager for maintaining the blockchain, this was a necessary step:

“Because of this new interest, we were able to better understand the performance of the program we wrote, and this pushed us to improve what we can, both in the short term and in the long term. […] In 24 hours we have seen the number of nodes increase by more than 15 times, and it is in these kinds of moments that the least optimized elements appear. “

 

The course of Dogecoin continues for the time being

The price of THE DOGE had exploded following the interest of WallStreetBets and Elon Musk, with two successive rises that had brought it to 0.087 dollar. Since then, the price of DOGE has tended to start to fall again, but it is trading well above the levels it experienced a few months ago. On July 1, 2020, 1 DOGE was worth $0.004. As of March 1, 2021, it is worth $0.048:

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Doge chart

Currently, DOGE continues to be installed in 14th place in the ranking of cryptocurrencies by capitalization, with a market cap that exceeds 6 billion dollars . Will this enougement last? If developers take over the network again, it will not be enough to create investor demand. And the “Elon effect” won’t last forever. It will therefore take more than enthusiasm to carry the Dogecoin course in a sustainable way.

 

 

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