apple iphone desk laptop

Is Dogecoin the Future Currency of the Internet? Robinhood CEO Vladimir Tenev Thinks So

Read Time:1 Minute
  • Robinhood CEO Vladimir Tenev took to Twitter to explain how DOGE could becomethe 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 Dogecoins transaction fees roughly $0.003 per transaction are already small enough to place the altcoin as a feasible ecash frontrunner.
  • Dogecoin currently has a 1megabyte block size and a 1minute block time, which means that Dogecoins 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.
  • Tenevs thread was published just three hours after Dogecoin creator Jackson Palmer took aim at formerDogecoin CEO Elon Musks planned potential hostile takeover of Twitter.

Leave a Reply