Is Dogecoin the Future Currency of the Internet? Robinhood CEO Vladimir Tenev Thinks So
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- Robinhood CEO Vladimir Tenev took to Twitter to explain how DOGE could become “the future currency of the Internet.”
- In a thread of 12 posts to his nearly 200,000 followers, Tenev outlined what steps need to be taken to transform the memecoin into a usable asset for everyday payments and transactions on the internet.
- Tenev began by drawing attention to the fact that Dogecoin’s transaction fees — roughly $0.003 per transaction — are already small enough to place the altcoin as a feasible e–cash frontrunner.
- Dogecoin currently has a 1–megabyte block size and a 1–minute block time, which means that Dogecoin’s total throughput stands at approximately 40 transactions per second (TPS).
- 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 finished the thread with a message to the developers of Dogecoin, urging them to focus on increasing the block size limit above all else.
- Tenev’s thread was published just three hours after Dogecoin creator Jackson Palmer took aim at former “Dogecoin CEO” Elon Musk’s planned potential hostile takeover of Twitter.
