Amid waning use of its Internet Explorer web browser – which is still running on nearly 60 percent of computers worldwide, but is losing ground to rival browsers from Google and Mozilla – Microsoft recently made its IE team available for a Reddit ‘Ask Me Anything’ session.

In the process, it was revealed the company has plans to release a new version of the browser – IE12 – and will release updates at a more frequent schedule. Also, perhaps most surprisingly, the company may even scrap the IE name in lieu of another name.

IE’s so-called “user share” worldwide was pegged at around 58 percent, nearly three times that of the 20 percent share held by Google Chrome, Computerworld reported citing metrics firm Net Applications. That is significant decrease from the 89 percent share it held in 2005, at which time Firefox had a paltry 6 percent.

Microsoft was so comfortable in its browser’s dominance it all but abandoned IE development efforts, which has allowed rivals to catch up and eat away at its market share, according to Computerworld.

Now, the Redmond, Wash. tech juggernaut’s IE developers are all but begging web surfers to give IE another chance. Microsoft developer Jonathan Sampson wants users to shed assumptions “largely based on experiences from a decade ago, and a much different IE,” he said on Reddit’s AMA.

Also addressed during the AMA was Microsoft’s new update release “cadence,” which Computerworld pointed out indicates that “Microsoft wants to mimic the regular, and frequent, upgrades that Google and Mozilla provide for their Chrome and Firefox browsers.”

Jacob Rossi of the IE team said during the Reddit session that Microsoft has been updating regularly since IE11 was introduced.

“Last week, we started rolling out new and improved F12 Developer Tools, WebGL Instancing Extension and other improvements, and also the infrastructure for WebDriver support,” he said.