For Robinhood the Dogecoin could become the currency of the Internet!

Vladimir Tenev, CEO of popular stock and cryptocurrency trading platform Robinhood, recently discussed how Dogecoin could become the “future internet currency“.

In a series of Tweets, Vladimir Tenev discussed how DOGE could become a primary currency for the internet, as his company Robinhood recently added the ability for users to send and receive cryptoasset based on memes.

According to Tenev, Dogecoin has already met the pre-requisite of having transaction fees”infinitely small“, with average fees costing users ~$0.003 as of the November 2021 1.14.5 Update. credit, which are usually 1-3%.

Vladimir Tenev argued that Dogecoin should speed up its blocking time, which is currently 1 minute, to 10 seconds. Currently, Dogecoin’s 1MB block size and 1 minute block time is 40 transactions per second (tps), which is far from the Visa network’s theoretical limit of 65. 000 tps.

He proposed that developers work to increase the block size of Dogecoin to 1GB (and possibly 10GB) to make Dogecoin a viable global currency, with the caveat that this would require more sophisticated hardware for users to of DOGE can simply use.

He also dismissed the idea that Dogecoin is inflationary, saying that the 5 billion new DOGE created each year leads to an inflation rate of around 5%, which is currently lower than that of the US dollar.

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