Dogecoin Deflation Plan: Billy Markus Latest Reveals Significant News
Recently, Dogecoin co-founder Billy Markus released a significant announcement about Dogecoin's deflation on the X platform, sparking widespread attention in the crypto community. As a loyal observer of Dogecoin, this topic deserves our in-depth discussion. Here are some key pieces of information and my understanding: How to achieve DOGE deflation? Billy Markus proposed that achieving deflation for Dogecoin is not complicated, and the key lies in the following steps: 1. Developer Action: Initiate a Pull Request on GitHub proposing code changes related to deflation. 2. Community and Miner Support: Convince the community and miners to accept and run the new version of the protocol. This indicates that, as an open-source proof-of-work (PoW) cryptocurrency, the community's opinion is crucial, and miners are the core force determining the direction of network operations. If the community and miners reach a consensus, the DOGE deflation mechanism can be smoothly initiated. DOGE's Supply Compared to Bitcoin Currently, the total supply of DOGE is about 146.78 billion, with an annual increase of 5 billion. Although the issuance of Dogecoin is fixed, its inflation rate gradually decreases over time, which differs from Bitcoin's supply mechanism. Dogecoin's design does not have a limited total supply like Bitcoin; in fact, its 'unlimited supply' characteristic significantly differs from Bitcoin. Billy Markus also mentioned that DOGE and BTC are very similar in design, just with slightly different parameters. He pointed out that Bitcoin's supply can also be adjusted with community agreement, emphasizing the flexibility and variability of blockchain projects. Additionally, Musk believes that this design allows Dogecoin to potentially outperform fiat currency in the long run.
