Recently, one of the founders of Dogecoin, Billy Markus, dropped a bombshell on a platform, saying that Dogecoin is going to become 'scarce'. This news has caused quite a stir in the cryptocurrency circle. As loyal fans of Dogecoin, we need to discuss this fresh news.
First, let's understand what 'scarcity' means and how Dogecoin can become scarce. Billy Markus said it's not complicated, just a few steps:
First, we need those programming experts to make some adjustments on GitHub, the home base for programmers, and Dogecoin can become scarce.
Then, the community members and mining friends need to nod in agreement. After all, Dogecoin is something everyone plays with together, and everyone must feel that the changes are good for the new rules to be established.
Let's take a look at the current status of Dogecoin. Currently, there are about 146.78 billion Dogecoins, and every year, 5 billion new ones are added. Although the annual increase is fixed, the ratio of increase relative to the total amount of Dogecoin will become smaller and smaller. This is different from Bitcoin, which has a total cap, like a big cake that is gone once it's cut. But Dogecoin, theoretically, can keep increasing like an endless buffet.
However, Billy Markus also mentioned that the rules of Bitcoin are not immutable; if everyone is willing, they can be changed. This indicates that these blockchain concepts are quite flexible and not set in stone. He also stated that the design of Dogecoin might be more reliable than the money issued by those governments in the future.
In short, Billy Markus has come up with an idea to make Dogecoin rare, so it won't continue to issue new coins as generously as it does now. Whether this idea will work depends on whether the community and mining friends agree. If it works, Dogecoin might become even more valuable, so let's wait and see!
Now, Dogecoin stands at a crossroads of transformation. How will this transformation develop? Will it successfully initiate a deflationary mechanism as everyone hopes, shining brightly in the digital currency field, or will it encounter numerous difficulties and challenges, leading to unexpected developments? What new opportunities will this transformation bring to the global digital currency sector, or what tricky challenges will it present?
All of this is like a suspenseful puzzle, leaving us with curiosity and anticipation, let's wait and see!