{"id":24181,"date":"2022-04-15T06:01:24","date_gmt":"2022-04-15T10:01:24","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=24181"},"modified":"2022-04-15T06:01:36","modified_gmt":"2022-04-15T10:01:36","slug":"robinhood-ceo-explains-how-dogecoin-can-become-people-internets-currency","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/robinhood-ceo-explains-how-dogecoin-can-become-people-internets-currency\/","title":{"rendered":"Robinhood CEO explains how Dogecoin can become people, internet\u2019s currency"},"content":{"rendered":"\n
Few days after Robinhood <\/a>listed the meme currency Dogecoin, the CEO of the platform Vlad Tenev, in a thread of 12 posts on Twitter explained how Dogecoin could become the internet's future currency.<\/h5>\n\n\n\n
\"Robinhood
Robinhood CEO explains how Dogecoin can become people, internet\u2019s currency<\/figcaption><\/figure><\/div>\n\n\n\n

In a recent Twitter discussion, Robinhood CEO Vlad Tenev suggested a few tweaks that might help Dogecoin become the internet's and people's currency.<\/p>\n\n\n\n

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Can #Doge\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a> truly be the future currency of the Internet and the people? As we added the ability to send\/receive DOGE on Robinhood, I\u2019ve been thinking about what that would take.<\/p>— Vlad Tenev (@vladtenev) April 14, 2022<\/use><\/svg><\/span><\/a><\/blockquote>

For the meme cryptocurrency to gain general adoption, the 35-year-old executive thinks transaction fees must be “vanishingly minimal.” The Dogecoin Core 1.14.5 upgrade, which went live in November, reduced transaction fees considerably.<\/p>\n\n\n\n

As Tenev points out, this makes it a lot more affordable option than mainstream card networks<\/use><\/svg><\/span><\/a>, which normally charge up to 3% each transaction.<\/p>\n\n\n\n

The block time should also be shortened to ten seconds, according to the Robinhood executive. Dogecoin would be able to compete with Visa and other card networks in this fashion.<\/p>\n\n\n\n

Tenev, on the other hand, feels that the block duration should not be excessively short so that miners do not expend too much work building consensus.<\/p>\n\n\n\n

\n

First off, transaction fees have to be vanishingly small. We\u2019re already there. As of last Nov\u2019s 1.14.5 update, typical transaction fees have been ~$0.003 – which you can experience on @robinhoodapp<\/use><\/svg><\/span><\/a> – compared to the 1-3% network fees that major card networks charge. pic.twitter.com\/KHk83nDaek<\/use><\/svg><\/span><\/a><\/p>— Vlad Tenev (@vladtenev) April 14, 2022<\/use><\/svg><\/span><\/a><\/blockquote>

Tenev has proposed expanding the block size of Dogecoin <\/a>to ten gigabytes (GB), allowing the Bitcoin spoof to handle a large number of transactions.<\/p>\n\n\n\n

One of the main arguments against raising the block size is that it would eventually lead to more centralization because running a complete node would necessitate the use of expensive hardware. Tenev, on the other hand, seems to agree that it would be a fair trade-off, echoing Bitcoin SV advocates.<\/p>\n\n\n\n

Billy Markus, co-founder of Dogecoin, stated that the web's infrastructure has improved enough to allow Dogecoin to run faster. Elon Musk<\/a>, the entrepreneur, has also weighed in on the controversy, stating that the block size must stay up with the rest of the internet.<\/p>\n","protected":false},"excerpt":{"rendered":"

Few days after Robinhood listed the meme currency Dogecoin, the CEO of the platform Vlad Tenev, in a thread of 12 posts on Twitter explained how Dogecoin could become the internet’s future currency. In a recent Twitter discussion, Robinhood CEO Vlad Tenev suggested a few tweaks that might help Dogecoin become the internet’s and people’s […]<\/p>\n","protected":false},"author":12,"featured_media":24182,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[81],"tags":[157,9181,1223,9182],"class_list":["post-24181","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-altcoin-news","tag-dogecoin","tag-internets-currency","tag-robinhood","tag-vlad-tenev"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/04\/image-106.png","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/24181","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=24181"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/24181\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/24182"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=24181"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=24181"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=24181"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}