Singapore markets closed
  • Straits Times Index

    3,194.04
    +6.26 (+0.20%)
     
  • Nikkei

    29,020.63
    -167.54 (-0.57%)
     
  • Hang Seng

    29,078.75
    +323.41 (+1.12%)
     
  • FTSE 100

    6,908.28
    -29.96 (-0.43%)
     
  • BTC-USD

    49,385.76
    -4,855.78 (-8.95%)
     
  • CMC Crypto 200

    1,133.33
    -109.72 (-8.83%)
     
  • S&P 500

    4,134.98
    -38.44 (-0.92%)
     
  • Dow

    33,815.90
    -321.41 (-0.94%)
     
  • Nasdaq

    13,818.41
    -131.81 (-0.94%)
     
  • Gold

    1,788.10
    +6.10 (+0.34%)
     
  • Crude Oil

    61.76
    +0.33 (+0.54%)
     
  • 10-Yr Bond

    1.5540
    0.0000 (0.00%)
     
  • FTSE Bursa Malaysia

    1,608.43
    +0.70 (+0.04%)
     
  • Jakarta Composite Index

    6,016.86
    +22.68 (+0.38%)
     
  • PSE Index

    6,378.07
    -37.46 (-0.58%)
     

A Better Breed of DOGE? Developers Release New Core With Faster Synch Speed

Kevin Reynolds
·2-min read

Developers for dogecoin, the meme-based cryptocurrency that somehow has parlayed cuteness into a more than $6 billion market value, are trying to make sure that the Shiba Inu-represented coin’s technology is just as good as its hype.

  • The developers announced Sunday evening they’ve released a new version of the protocol’s core that promises improved synchronization speed and reduced default mempool expiry time.

  • Developers say they’ve significantly improved the speed at which a DOGE node can upload blocks, by removing expensive integrity checks that were performed each time a block is sent to another node.

  • In addition, the new core also cut the default time that transactions are cached in the mempool from 336 hours to 24 hours.

  • It’s the first significant update since July 2019.

  • DOGE, which was released as a joke back in 2013, periodically had grabbed the the crypto-buying public’s imagination, prompting surges in its price before falling back down to trade at less than a penny a coin.

  • Recently, though, the coin has become part of the crypto zeitgeist after capturing the imagination of Tesla CEO Elon Musk, who has made a side business of tweeting DOGE’s praises at almost every turn. Rocker Gene Simmons, who describes himself as “God of Dogecoin,” Snoop Dogg (or DOGE), and even a porn star have also become DOGE lovers.

  • In its most recent run-up DOGE moved well into the top 10 list of most valuable cryptocurrencies with a market cap of more than $10 billion, overtaking much more “serious” coins. And while DOGE has given back a lot of those gains, it’s well ahead of where it had fallen to in the past. It’s still the 14th-most valuable crypto with a market cap of $6.27 billion and a per coin price of just under five cents at press time.

  • That increase in price has incentivized its developers to make the technology underpinning that adorable Shiba Inu more robust and not just be about a pretty face.

  • “People say it’s a joke coin but we’re very careful to take care of the code. When it took off there was a resurgence in attention and we want to keep the currency operational,” DOGE lead maintainer Ross Nicoll recently told CoinDesk.

Update (March 1, 14:30 UTC): Adds context about DOGE’s code development history.

Related Stories