A fee change proposal for Dogecoin has been submitted and Tesla CEO Elon Musk says that it is “important to support” it. “This document proposes a new fee structure and policy for Dogecoin Core, to be gradually deployed to the network over multiple software releases,” said the Dogecoin developer who submitted the proposal.
Elon Musk Signals Support for Dogecoin Fee Change Proposal
Tesla CEO Elon Musk has signaled his support for the Dogecoin fee policy change proposal submitted Sunday. Software engineer and Dogecoin developer Ross Nicoll posted on Twitter that “The Dogecoin fee change proposal is up.” Musk replied to his tweet: “Important to support.”
The Dogecoin fee policy change proposal was submitted by Dogecoin developer Patrick Lodder. “This document proposes a new fee structure and policy for Dogecoin Core, to be gradually deployed to the network over multiple software releases,” his proposal reads.
He explained on Reddit:
TLDR; This proposal to all dogecoin stakeholders suggests to reduce average fees 100x for standard transactions on the Dogecoin chain, split full control over all aspects of fees between miners and node operators, rely less on core development, and bring back a functional (small) free transaction space that incentivizes keeping the network healthy.
Musk began talking about improving Dogecoin back in May. He tweeted that he was “Working with Doge devs to improve system transaction efficiency. Potentially promising.”
The Tesla CEO also urged anyone wanting to help develop Doge to submit ideas on Github and on the Dogecoin Reddit forum. He tweeted in May: “Ideally, Doge speeds up block time 10X, increases block size 10X & drops fee 100X. Then it wins hands down.” The Dogecoin fee change proposal can be found here.
What do you think about Elon Musk supporting the new Dogecoin fee change proposal? Let us know in the comments section below.
Image Credits: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.