Saturday, December 10

Dogecoin Prepares For System Upgrade Next Month

Dogecoin (DOGE) will experience a protocol upgrade later this summer. The meme coin’s developers shared a system upgrade roadmap, which targets solving the presently existing protocol bugs and better protecting Dogecoin Core wallets users.

Earlier this week Dogecoin’s developer Patrick Lodder shared a GitHub link with a checklist of tasks, that need to be done before releasing the Dogecoin’s protocol upgrade, named v1.14.6.

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What’s on the Dogecoin Upgrade Plan

As seen from the document, Lodder separated three main categories of tasks, that are mandatory and optional for the Dogecoin protocol upgrade.

The first category contains tasks, that include fixing already known Bitcoin vulnerabilities and also preventing the potential future ones. In addition to that, his plan includes upgrades that would help to better protect Dogecoin wallet users and also make usage of the Dogecoin Core wallet cheaper.

More also, the second category of non-mandatory “Should Have” tasks include dependency updates and important cleanup. Meanwhile, the list of “Could Have” assignments include non-critical code cleanups and performance improvements.

“ It is starting to look like we will be able to do a release of 1.14.6 end of June,” Lodder posted earlier in May for his Reddit followers. According to his current release plan, the Dogecoin system upgrade should be ready by the first day of July 2022. Beloved, But With Issues

The pioneer meme coin, DOGE, captured the world’s attention last year after Elon Musk’s endorsement and hints at making Dogecoin a payment currency for Tesla cars. The price of the coin broke all-time high levels, spiking more than 1120% in less than a month. 

Despite the increased global demand, the protocol of Dogecoin remained rarely updated and contained multiple technical issues. Back in 2021, the upgrade of Dogecoin’s wallet caused a system glitch that resulted in an issue when numerous Binance users found their Dogecoin holding frozen and impossible to withdraw for more than two weeks.

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Price Keeps Swinging

The news of the upcoming protocol update triggered a mild Dogecoin (DOGE) price increase. The coin went up by more than 5% after Lodder’s announcement, reaching the highest level of $0.0843 since the first days of June.

Although, the following correction got Dogecoin even more down today. The coin tested the lows of  $0.0783 earlier on Tuesday but later slightly recovered trades at $0.0798 at the Writer’s time. Dogecoin suddenly nosedived losing almost 10% of its value within the first day of summer. The coin has lost over 38% of its value in the past month and presently trading 89% below its ATH of $0.7315, reached at the beginning of May 2021.

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