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The Dogecoin fee change proposal has been submitted, and Tesla CEO Elon Musk said it is “important” to support it. “This document proposes a new fee structure and policy for the Dogecoin core, which will be gradually deployed to the network through multiple software versions,” said the Dogecoin developer who submitted the proposal.
Tesla CEO Elon Musk has expressed support for the Dogecoin fee policy change proposal submitted on Sunday. Software engineer and Dogecoin developer Ross Nicole tweeted that “Dogecoin fee changes have been proposed.” Musk replied on Twitter: “Important support.”
The Dogecoin fee policy change proposal was submitted by Dogecoin developer Patrick Lodder. “This document proposes a new fee structure and policy for the Dogecoin core, which will be gradually deployed to the network through multiple software versions,” he wrote in his proposal.
He explained on Reddit:
TLDR; This proposal for all Dogecoin stakeholders proposes to reduce the average cost of standard transactions on the Dogecoin chain by 100 times, to fully control all aspects of the cost between miners and node operators, and to reduce the need for core development Rely on, and restore functional (small) free transaction incentives to keep the network healthy.
Musk started talking about improving Dogecoin in May. He said on Twitter that he is “cooperating with Doge developers to improve system transaction efficiency. It has great potential.”
The Tesla CEO also urges anyone who wants to help develop Doge to submit ideas on the Github and Dogecoin Reddit forums. He tweeted in May: “Ideally, Doge will speed up the block time by 10 times, increase the block size by 10 times, and reduce the fee by 100 times. Then it wins.” It can be found here. Dogecoin fee change proposal.
What do you think of Elon Musk’s support for the new Dogecoin fee change proposal? Let us know in the comments section below.
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