In 2021, Elon Musk‘s tweet about DogeCoin made it a very very popular coin in the field of cryptocurrency.
Since people in this field of cryptocurrency know it as shitcoin but now it is the best coin to get high return in a few years and also people are using this coin for payment purpose.
Elon Musk is trying to make DogeCoin a better and perfect coin in this field of cryptocurrency market.
Related: Elon Musk will work on improvement in efficiency of DogeCoin, See What are plans?
Since we already covered this news of “Elon Musk working with DogeCoin devs to improve efficiency of DogeCoin”.
In that article we discussed the number of possibilities of DogeCoin new technology update chances that can make DogeCoin faster and better.
Related: Possible techniques to implement in DogeCoin existing technology
To make any type of update in the efficiency related or vulnerability related improvement in coin blockchain, A technique is used, Known as Fork.
Fork is a situation that takes place when two major paths are followed by validators/miners.
Situation of fork can take place in two situations. One is by mistake of miners/validators not to use a single rule of mining and second is forced fork. In this situation miners are restricted to follow mining rules in two different ways and that results in fork.
Here in the DogeCoin improvement program, the Development team needed to go with the fork situation to update the existing consensus.
Otherwise it is possible to use existing DogeCoin with efficiency.
Since there are options to relaunch DogeCoin with new technology consensus but relaunching DogeCoin will be a tedious task for the team of DogeCoin.
So here a very high possibility is, DogeCoin can go through a forced fork process.
Is There Chance Of New Coin In DogeCoin Fork?
If DogeCoin will go through fork then there are two possibilities.
New chain results can be considered as useful and the team can declare new coins.
But beside this there is another chance that the DogeCoin developer team will not consider the newly generated chain. And they will only consider the fork as an update in DogeCoin technology.
But here probability to declare a new forked coin from DogeCoin have more chances.
Here it should also be noted, how much time it will take for the upcoming fork in the DogeCoin.
Since Elon Musk already talked about the improvement in the efficiency of DogeCoin but still dates are not fixed.
And also the fork option is only the highest probability to use for the updation in DogeCoin.
There are few chances to adopt new technology which does not exist in the present time.
We hope DogeCoin either goes with fork or new technology implementation but it will happen soon, So that we can have the option of another best coin as an payment option.
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