Dogecoin, which has increased in value tens of times with the shares of Elon Musk and even reached 70 cents for a period, still continues to watch over 10 cents with the big dreams of its investors. While exciting statements about Dogecoin continue to come from time to time, the last of them came from the CEO of Robinhood.
Robinhood CEO Vladimir Tenev announced on his Twitter account that Dogecoin could be ‘the future currency of the internet’. He also made a 12-share statement on how this will happen. In his statement, Tenev also talked about the steps to be taken for Dogecoin to be a usable unit for daily payments and money transfer on the internet.
Block size and timely work should be done:
The first point Tenev drew attention to was the $0.003 transaction fee Dogecoin charges per transfer. Stating that this fee is already very low, Tenev explained that some of the most important things that need to be developed in Dogecoin are block size and block time. Dogecoin currently has a block size of 1 MB and a block time of 1 minute. This limits the number of transactions Dogecoin can make per second to 40.
It is an undeniable fact that many people in this field are aware of the fact that Dogecoin needs to be developed at these points. In such a future, VISA, which will be Dogecoin’s rival payment giant on the internet, can process 65,000 transactions per second. According to Tenev, these problems in Dogecoin are actually not so serious. Tenev believes the issue could be resolved by increasing Dogecoin’s block size limit from 1MB to 1GB and then to 10GB.
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