• About Us
  • Contact Us
  • Cookie policy (EU)
  • Home
  • Privacy Policy
  • Video
  • Write for us
Today Headline
  • HOME
  • NEWS
    • POLITICS
    • News for today
    • Borisov news
  • FINANCE
    • Business
    • Insurance
  • Video
  • TECHNOLOGY
  • ENTERPRISE
  • LIFESTYLE
    • TRAVEL
    • HEALTH
    • ENTERTAINMENT
  • AUTOMOTIVE
  • SPORTS
  • Travel and Tourism
  • HOME
  • NEWS
    • POLITICS
    • News for today
    • Borisov news
  • FINANCE
    • Business
    • Insurance
  • Video
  • TECHNOLOGY
  • ENTERPRISE
  • LIFESTYLE
    • TRAVEL
    • HEALTH
    • ENTERTAINMENT
  • AUTOMOTIVE
  • SPORTS
  • Travel and Tourism
No Result
View All Result
TodayHeadline
No Result
View All Result

Robinhood CEO on how Dogecoin can be improved to outperform VISA

April 15, 2022
in Finance
0
Robinhood CEO on how Dogecoin can be improved to outperform VISA
0
SHARES
1
VIEWS
Share on FacebookShare on Twitter


Robinhood CEO Vladimir Tenev believes Dogecoin (DOGE-USD) can become the day-to-day “currency of the internet.”

According to the Robinhood chief, all it might take are a few improvements that could turn the meme coin into a faster and even cheaper payment currency.

He outlined his thinking via a Twitter threadproviding some suggestions on what Dogecoin developers could look to implement to make DOGE the “people’s currency.”

Can #Doge 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.

– VLAD (@vladtenev) April 14, 2022

Increase block size,  reduce block time

Tenev says Dogecoin’s transactions fees are already “vanishingly small” after last November’s 1.14.5 update. The network’s average transaction fee o $0.003 is way smaller than the up to 3% charged by leading card payment providers.

In that case, he proposes that what needs to improve is DOGE’s block size and block time. Doing this, he notes, could see Dogecoin increase its total throughput to levels currently achievable by Visa.

Tenev points out that as it stands, Dogecoin’s throughput is around 40 transactions per second (TPS). Granted, this is down to the cryptocurrency’s 1MB block size and 1 minute block time.

In comparison, Visa can handle up to 65,000 TPS. To outperform VISA, Dogecoin needs to increase its throughput 10,000 times. Looks might like a massive ask. However, the Robinhood executive believes DOGE devs can easily solve this by increasing the block size.

“Moving to a 1GB (and later 10GB) block size limit would provide all of the throughput a global currency would need for the foreseeable future. L2 solutions are not necessary to solve this problem,” he noted.

What about adopting a fixed money supply model?

Dogecoin devs should also explore how to make Dogecoin less inflationary as it is at present, he added. This, he said, could be done by adopting a finite supply, much like Bitcoin (BTC)’s 21 million cap. If this were the case, Dogecoin’s inflation rate could reduce over time.

The current supply of 132 billion DOGE works out to an inflation rate above 5%. Tenev opines that having a fixed supply could reduce that to 2%.

Some of the suggestions have already attracted criticism on CT, especially around the increase of the block size likely at the expense of decentralisation.

But the trade-off is…

Tenev admits a 10GB block size could require more sophisticated hardware from miners if they are to run a full node, something that might see some enthusiasts unable to participate in securing the network. This, according to some observers, is unacceptable given it would lead to a more centralised network.

Tenev suggests that this could be the trade-off Dogecoin developers might have to bear in mind if they choose to consider his take.

It’s definitely NOT a good tradeoff. If you want independent decentralized money you need to be as robust as possible. You’re defending the network against well funded and connected massive entities. If you make such tradeoffs in this battle, you lost before you enter the ring.

— Bitcoin LightningNetwork+ (@BTC_LN) April 15, 2022

Previous Post

Carvana says it expects to close its acquisition of ADESA U.S. in May

Next Post

Biden picks Michael Barr for Fed’s bank regulation post

Related Posts

Russia Says It Will Let Food Ships Leave Ukraine If Some Sanctions Are Lifted
Finance

Russia Says It Will Let Food Ships Leave Ukraine If Some Sanctions Are Lifted

Russia said it would allow...

Read more
South Korean EV battery makers in $13 billion spree to win U.S. market
Finance

South Korean EV battery makers in $13 billion spree to win U.S. market

SEOUL — South Korean battery...

Read more
Reuters reveals U.S. regulators visit China for audit deal talks
Finance

Reuters reveals U.S. regulators visit China for audit deal talks

Business & FinanceGovernmentPolitics07 May 2022,...

Read more
How to Calculate Return on Equity (ROE)
Finance

How to Calculate Return on Equity (ROE)

Return on equity (ROE) is...

Read more
Crypto Could Fall to $8,000, Scott Minerd Says
Finance

Crypto Could Fall to $8,000, Scott Minerd Says

Guggenheim CIO Scott Minerd says...

Read more
Load More
Next Post
Biden picks Michael Barr for Fed’s bank regulation post

Biden picks Michael Barr for Fed's bank regulation post

  • Trending
  • Comments
  • Latest
Sex/Life fans notice a HUGE editing fail in Adam Demos’ nude shower scene –

Sex/Life fans notice a HUGE editing fail in Adam Demos’ nude shower scene –

Can you get rid of a hacker on your phone?

Thousands of Deaths and Adverse Reactions Deleted From VAERS – The Epoch Times

Thousands of Deaths and Adverse Reactions Deleted From VAERS – The Epoch Times

Horror as goat gives birth to ‘humanoid kid’ with baby-like face

How To Care For Mexicanum Philodendron

How To Care For Mexicanum Philodendron

National Greyhound Day Celebrates Fast Friends

National Greyhound Day Celebrates Fast Friends

U.S. economy shrank in first quarter of 2022

‘I don’t have days off’

‘I don’t have days off’

About Us

Todayheadline the independent news and topics discovery
A home-grown and independent news and topic aggregation . displays breaking news linking to news websites all around the world.

Follow Us

Latest News

How To Care For Mexicanum Philodendron

How To Care For Mexicanum Philodendron

National Greyhound Day Celebrates Fast Friends

National Greyhound Day Celebrates Fast Friends

How To Care For Mexicanum Philodendron

How To Care For Mexicanum Philodendron

National Greyhound Day Celebrates Fast Friends

National Greyhound Day Celebrates Fast Friends

U.S. economy shrank in first quarter of 2022

  • Real Estate
  • Education
  • Parenting
  • Cooking
  • Travel and Tourism
  • Home & Garden
  • Pets
  • Privacy & Policy
  • Contact
  • About

© 2021 All rights are reserved Todayheadline

No Result
View All Result
  • Real Estate
  • Education
  • Parenting
  • Cooking
  • Travel and Tourism
  • Home & Garden
  • Pets
  • Privacy & Policy
  • Contact
  • About

© 2021 All rights are reserved Todayheadline

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

Posting....