Robinhood CEO Vladimir Tenev took to Twitter on Thursday afternoon to explain how Dogecoin could become the “future currency of the internet.” Do you agree with Tenev?
Robinhood CEO Vladimir Tenev took to Twitter on Thursday afternoon to explain how Dogecoin could become the “future currency of the internet.”outlined what steps need to be taken to transform the memecoin into a usable asset for everyday payments and transactions on the internet.truly be the future currency of the Internet and the people? As we added the ability to send/receive DOGE on Robinhood, I’ve been thinking about what that would take.
He believes the block size and the block time of Dogecoin are the main areas that require improvement if the cryptocurrency is to become widely adopted. Ideally, the block time should be fast enough that the transaction can be recorded in the next block in less time than it takes to pay at a point of sale terminal.Dogecoin currently has a 1MB block size and a 1 minute block time which means that Dogecoin’s total throughput stands at approximately 40 transactions per second .
In comparison, the VISA network has a throughput of approximately 65,000 TPS — meaning that DOGE would need to increase its total throughput by roughly 1,625 times in order to be on par with VISA. Tenev that this isn’t a worry, and can be solved simply by increasing DOGE’s block size limit from 1MB to 1GB and eventually to 10GB.g them to focus on increasing the block size limit above all else.
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