Dogecoin is about to make a big move - Deflation plan is coming!
Billy Markus, the co-founder of Dogecoin, recently made a bold statement on a major platform, mentioning that Dogecoin is set to become a deflationary currency, which has shaken the crypto community.
How will Dogecoin become deflationary? Billy Markus said it's actually not difficult, just two key steps:
The first step is for developers to make some changes on GitHub and submit a code modification request to turn this deflation idea into reality.
The second step is to get the community and miners on board. The community is the guardian of Dogecoin; their opinions are very important. Miners, on the other hand, are the protectors of the Dogecoin network, and their support is also essential. As long as both the community and miners agree, then the deflation mechanism of Dogecoin can be officially launched.
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 keep decreasing. This is different from Bitcoin, which has a limited supply, while Dogecoin has 'unlimited supply.' However, Billy Markus also mentioned that Bitcoin's supply is not set in stone and can be adjusted if the community agrees.
He also noted that Dogecoin is quite similar to Bitcoin, with only slight differences in parameters. He even said that the design of Dogecoin might surpass fiat currencies in the future!
In summary, Dogecoin is about to make a significant move, and we should all stay tuned!
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