Upgrade Version Of Dogecoin To Include Various New Features And Enhancements
Dogecoin (DOGE), the biggest meme-based cryptocurrency in the world, is scheduled to get a significant update that will make the blockchain more interoperable and user-friendly.
A Dogecoin core developer, Michi Lumin, recently tweeted about the change, stating that “lib-dogecoin 0.1.2” has been published. He then remarked, “This is a big one,” noting that it was a compilation of the interim 0.1.1 development release.
A roll-up is a scalability solution enabling several transactions to be performed off-chain and submitted to the blockchain as a single transaction, decreasing gas prices and network congestion. It increases the network’s transaction throughput and improves its efficiency.
Support for BIP39 seed phrases, a feature that enables users to produce mnemonic phrases to protect their private keys, will be one of the most significant enhancements to this release. Notably, this update will allow anyone, especially non-developers, to construct seed phrases in several languages, intuitively securing their assets.
The addition of QR code capability is also noteworthy since it makes it simpler for users to communicate their addresses.
In addition, the update will provide complete support for BIP 32/44 and slips44 HD addressing standards, which improves security and organization by allowing Dogecoin to create keys and addresses according to their respective rules and produce child keys/addresses.
The update will also provide enhanced signature options for messages and transactions. This will enable users to sign and validate communications and transactions, enhancing network security. Dogecoin will also offer users its current “moon-phase Unicode,” allowing them to participate in the growth of the cryptocurrency.
As the Dogecoin project continues to mature, it has received support from the community and an increasing number of developers, including billionaire Elon Musk. Musk claimed he would collaborate with Dogecoin developers to “improve system transaction efficiency.” On a separate occasion, the CEO of Tesla asked for public comment on suggestions to improve the cryptocurrency network by requesting submissions on Dogecoin’s Github and Reddit accounts.
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