Dogecoin is about to make a big move - deflation plan is coming!
Dogecoin's co-founder Billy Markus recently made a big announcement on a major platform, mentioning that Dogecoin is set to become a deflationary currency, which has shocked the cryptocurrency community.
How can Dogecoin become deflationary? Billy Markus stated that it's actually not difficult, just two key steps:
The first step is for the developers to make some moves on GitHub and submit a code modification request to turn this deflationary idea into reality.
The second step is to get the community and miners on board. The community is the guardian of Dogecoin, and their opinions are very important; while the miners, they are the protectors of the Dogecoin network, and their support is also essential. As long as the community and miners agree, the deflationary mechanism for Dogecoin will be firmly set in motion.
Currently, the total supply of Dogecoin is 146.78 billion, and it will increase by 5 billion each year. Although the increase is fixed, the inflation rate will continue to decrease. This is different from Bitcoin, which has a limited total supply, while Dogecoin has an 'unlimited supply.'
However, Billy Markus also mentioned that Bitcoin's supply is not constant, and it can be adjusted if the community agrees.
He also pointed out that Dogecoin is actually quite similar to Bitcoin, just with some differences in parameters. He further stated that the design of Dogecoin might even surpass fiat currencies in the future!
In summary, Dogecoin is about to make a significant move this time, and we should stay tuned!
