The tech tycoon and most notable Dogecoin (CRYPTO: DOGE) fan Elon Musk supported efforts to improve the cryptocurrency network.
Teslas (NASDAQ: TSLA) Musk responded to a tweet that included instructions on how to ensure that Dogecoin network fees are lowered by accepting the latest node software update, which underscores its importance.
Update on #dogecoin Nodes:
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The latest update is currently running on 205 computers. More nodes need to update to 1.14.4 & more NEW nodes are needed
As soon as a higher percentage of new nodes is running, a new update will be released.
It helps secure the network & lower transaction fees pic.twitter.com/9rJInesewI
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– Doge Whisperer 🐕 (@TDogewhisperer) August 29, 2021
According to the tweet the tech tycoon pointed out, only 205 computers were already running the latest update, and more nodes need to update their software and set up new nodes.
As soon as a higher percentage of the nodes in the network and the new nodes are running the new software version, the update will take effect.
Why it matters
The update will supposedly improve the security of the network and cut transaction fees significantly.
According to the tweet, the update will “allow DOGE to circulate for a fraction of the current fee”.
The post also urges readers to run their own nodes, noting that it “can be as simple as going to dogecoin.com and downloading the software onto an old laptop.”
According to CoinMarketCap data, Dogecoin is trading at $ 0.28 at press time, after rising 1.52% in the past 24 hours.
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