14 Jul 2021 7:52 AM +00:00

Dogecoin 1.21 Update: What Will The New Dogecoin Upgrade Add?

Currently in version 1.14, Dogecoin Core is set to undergo a major upgrade to 1.21.

Dogecoin is not alone in receiving updates to its core in the near future. The releases of Ethereum 2.0, Ethereum EIP-1559, and Cardano Goguen are both slated for the future.

Here's what to expect from the Dogecoin 1.21 update.

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Dogecoin 1.21 Upgrades and Features

Version 1.21 plans to make several large-scale upgrades to the Dogecoin Core code.

Two of these features set to be included are SegWit and CSV.

SegWit - or Segregated Witness - separates signatures from transactions, reducing the likelihood of transaction malleability. While SegWit increased the block size of bitcoin, it appears this will not occur in Dogecoin 1.21, Developer Patrick Lodder noted that increased block sizes "is something we should be extremely careful with on a 1-minute chain".

For those remembering the bitcoin mining community breaking out in a near-civil war over SegWit, this is now deemed much less contentious, especially without block size increases.

CSV - or CheckSequenceVerify - is a script-level time lock that allows for more complex scripts and the implementation of Lightning Networks (L2) for fast transactions between nodes.

Dogecoin 1.21 will not include TapRoot- the bitcoin upgrade slated for release later this year.

In an interview with Decrypt, Dogecoin developer Ross Nicoll gave further insight into the upgrades to expect in 1.21 and beyond. Nicolls explained the upgrade would enhance wallet backups and sync speeds, while the developers also hope to cut transaction fees in the future.

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Dogecoin 1.21 Release Date

There is currently no confirmed release date for Dogecoin 1.21.

While much of the tasks on Dogecoin 1.21's Github are done, there is still a period of testing and development by the small team of Dogecoin developers to go before it can release. Development is also split between the major 1.21 version, and upcoming minor updates 1.14.4 and 1.14.5.

Speculation arose in May that v1.21 was close to completion. Coinbase CEO Brian Armstrong stated the exchange planned to list DOGE "in the next six to eight weeks". However, when Dogecoin came to Coinbase in early June, the cryptocurrency remained at Dogecoin Core 1.14.

However, development is progressing, with Nicoll confirming on Twitter he has "the first long-running 1.21 node on testnet".

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Before Dogecoin 1.21 releases, it must achieve consensus. Using a standard soft fork and 95% consensus rule, miners will need to 'vote' on the proposal, with 1900 out of 2000 blocks in a certain window needing to switch for full activation.

There is no way to know whether 1.21 will reach this consensus, or how long it could take.

READ MORE: Who owns the most Dogecoin?

[Featured Photo Executium by on Unsplash]