Well, Dogecoin still is a meme – just a more expensive meme. And as the price rises from the depths, Dogecoin’s historically scattered development is rising with it.
Take Dogecoin lead maintainer, Ross Nicoll, for example. His last commitment on Github came in October of 2019, but in the past two weeks he’s taken on a handful of new pull requests to make changes to the coin.
As he and four other Dogecoin developers take up the keyboard in the name of the Shiba Inu-emblazoned memecoin (which is now worth over $9 billion at $0.07 a coin), they’re tasked with upgrading a software whose last major release happened nearly two years ago in June 2019.
“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,” Ross Nicoll told CoinDesk.
What is Dogecoin?
When Jackson Palmer co-created Dogecoin, he meant it as a joke, a mockery of the cryptocurrency space that he didn’t take seriously. The memecoin launched on December 6, 2013, and was a fork of Bitcoin’s codebase that tweaked a few of Bitcoin’s key design features.
For one, Dogecoin’s inflation is significantly larger than Bitcoin’s own and it hasn’t had a supply halving since 2014. Each block contains 10,000 DOGE, so some 5.2 billion DOGE are mined each year. Dogecoin’s mining difficulty adjustment (which controls how hard or easy it is to find a block) is tweaked every block, unlike Bitcoin which adjusts every 2,016 blocks. It is sometimes “merged mined” with Litecoin, meaning miners run programs to mine both chains simultaneously.
Additionally, DOGE has faster bocks than Bitcoin (1 minute vs. 10 minutes), so transactions are faster and cheaper than Bitcoin. This comes at the cost of producing many more orphan blocks than Bitcoin – blocks that are rejected by the network and do not contribute to the longest blockchain transaction history.
Dogecoin also includes a…