The CEO of Robinhood, Vlad Tenev recently recommended numerous advancements capable of enhancing Dogecoin in the digital space. According to the CEO, such improvements tend to make doge a currency of the internet and the people.
According to Vlad Tenev, fees incurred in transactions needs to become overtly small to allow the meme coin to attain global acceptance. Accordingly, the Dogecoin Core 1.14.5 improvement became executed last November. This improvement, however grossly declined incurred transaction fees. The 35-year-old CEO feels such development makes the dogecoin transactions more cheaper. According to him, the trend also possesses the capacity to serve as an alternative to popular card platforms which accepts over 3% per transaction.
Vlad Tenev further recommended the reduction of the block duration to about 10 seconds. This, according to him tends to allow Dogecoin compete with Visa and other card networks. In addition, the CEO feels the timing of the block must not be too fast in a bid to allow miners use less energy in creating consensus.
More recommendations by Vlad Tenev
More so, Vlad Tenev proposed expanding the block size of Dogecoin to about 10 gigabytes (GB). According to him, such tends to make it feasible for the Bitcoin parody to conduct a huge amount of transactions. According to one of the vital submissions against the increase in the block size, such an approach tends to unavoidably ferment a huge centralization degree. This is because it needs to operate highly expensive hardware in a bid to process a full node. The Robinhood boss averred that it would be a good trade-off, overtly reflecting supporters of Bitcoin SV.
However, in a comment by the co-founder of Dogecoin, Billy Markus, he remarked that the architecture of the web became grossly enhanced. This, according to him aided the speed of dogecoin. According to reports, a renowned billionaire, Elon Musk also commented on the trend. He claimed that the size of the block needs to maintain pace with the rest of the internet.
Recall that dogecoin manifested as a mere joke in 2013 and now referred to as a meme currency. Accordingly, the crypto recorded a huge value this year, with a gain equivalent to about 12,000%, especially in the past 11 months. According to reports, it attained a high of over $0.45 early this month. As at last Tuesday, it traded at about $0.27, up 1.2%. The coin attained widespread popularity over the past year as retail investing rose during the COVID-19 pandemic.