Search
Close
  • Home
  • Business News
  • Crypto News
    • Binance
    • Bitcoin
    • Cardoso
    • Dogecoin
    • Ethereum
    • NFT X Metaverse
    • Shiba in
    • Other alt coins
  • Market News
  • Technology News
  • Tools
    • Crypto Table
    • Exchange Rate
    • Currency Converter
Menu
  • Home
  • Business News
  • Crypto News
    • Binance
    • Bitcoin
    • Cardoso
    • Dogecoin
    • Ethereum
    • NFT X Metaverse
    • Shiba in
    • Other alt coins
  • Market News
  • Technology News
  • Tools
    • Crypto Table
    • Exchange Rate
    • Currency Converter
Search
Close
Home Crypto News Binance

How Dogecoin could become the currency of the internet according to Robinhood CEO

Cointori by Cointori
April 17, 2022
in Binance, Bitcoin, Business News
152
SHARES
1.9k
VIEWS
Share on FacebookShare on TwitterShare on Whatsapp

Robinhood CEO Vlad Tenev puts together a case for how Dogecoin can become the internet’s native currency. Since Robinhood added send/receive DOGE functionality, Tenev said he’s been thinking about “what that would take.”

Previously, critics panned the platform as a walled garden, as it did not allow the transfer of cryptocurrencies in or out of the app. However, after months of talking about adding this feature, the company rolled it out last week.

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

Nonetheless, the path to turning Dogecoin into the internet’s currency will take more than unlocking the tokens held on a single platform.

Dogecoin gets serious by building utility

Despite being known as a meme coin, the Dogecoin Foundation announced plans to bring utility to DOGE at the tail end of last year.

To revive interest in the project, the foundation said plans are in place to turn DOGE into a payment mechanism and “a serious universal currency for people.”

They revealed a series of projects to make this happen, including upgrading its desktop wallet API interface, “community staking,” and network diversification for faster nodes. The ultimate goal is to increase the usefulness of DOGE by improving its technology.

RelatedPosts

Next Bitcoin Mining Difficulty Change Estimated to Decrease as Block Times Have Lengthened

Lufthansa, Air France-KLM eye Flybe landing slots – report

U.S. President Biden to visit Poland -Polish president’s adviser

How would DOGE become the money of the internet?

Pivoting to payments is fraught with technical challenges, which Tenev laid out in a tweetstorm. Starting with transaction fees, which Tenev says must be “vanishingly small.”

Thanks to the Core 1.14.5 update, implemented in November 2021, tiny fees are already a reality for DOGE users.

Then there are quicker block times, which refers to the time taken by miners or validators to verify transactions within a block and produce a new block. Tenev states block times need to be faster than the time it takes to pay at a payment terminal.

“Ideally, the block time (time between successive blocks being added to the chain and to verify a transaction) should be fast enough that the transaction can be recorded in the next block in less time than it takes to pay at a point of sale terminal.“

Yet not so fast that mining resources are wasting excessive amounts of energy in bringing about consensus.

He adds that the current block time of 1 minute is too long. Ideally, this should be cut to ten seconds for optimal performance,

Perhaps the most controversial change lies in increasing the block size. Tenev says competing with Visa’s 65,000 transactions per second throughput would require a 10,000x increase on its current 1MB block size.

The downside is that node operators would need more sophisticated equipment than a Raspberry Pi to facilitate this change. But Tenev says this is a tradeoff worth taking.

The post How Dogecoin could become the currency of the internet according to Robinhood CEO appeared first on CryptoSlate.

Tags: BitcoinbusinessBusiness AnalysisBusiness TipsGold PriceInvestment LossMarket StoriesOil MarketSillicon ValleyunUnited StatedVenture CapitalWall StreetWater deep
Share61Tweet38Send
Cointori

Cointori

Related Posts

Next Bitcoin Mining Difficulty Change Estimated to Decrease as Block Times Have Lengthened

February 4, 2023

Lufthansa, Air France-KLM eye Flybe landing slots – report

February 4, 2023

U.S. President Biden to visit Poland -Polish president’s adviser

February 4, 2023

Debate Intensifies Over Significance and Implications of Ordinal Inscriptions on Bitcoin Blockchain

February 4, 2023

Ukraine’s Zelenskiy says situation at the front getting tougher

February 4, 2023

U.S. pauses activity at three airports for “national security effort” amid questions about Chinese spy balloon

February 4, 2023

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Search

No Result
View All Result
  • Trending
  • Comments
  • Latest

Is The Ethereum Merge About To Have A Confirmed Delay?

April 15, 2022

Data Leak At Unchained Capital, NYDIG, Swan & BlockFi. At The Same Time

March 21, 2022

Fantom Foundation Responds To Andre Conje’s Departure

March 6, 2022

The Andy Milonakis NFT Show, EP. 20 – Goat Soup’s Dark Night Of The Soul

April 26, 2022

IRA Financial Breach: Hackers Snatch $36 Million From US-Based Fintech Startup

0

Bitcoin Hash Rate Balloons To Record High — Will Price Go Up As Well?

0

Ethical Blockchain: Are Crypto, NFTs And DeFi Bad For The Environment? Here’s Why They’re Not

0

Mexican Billionaire Says It Again: Buy Bitcoin Today — And Thank Him Later?

0

Next Bitcoin Mining Difficulty Change Estimated to Decrease as Block Times Have Lengthened

February 4, 2023

Lufthansa, Air France-KLM eye Flybe landing slots – report

February 4, 2023

U.S. President Biden to visit Poland -Polish president’s adviser

February 4, 2023

Debate Intensifies Over Significance and Implications of Ordinal Inscriptions on Bitcoin Blockchain

February 4, 2023

Categories

  • Binance (49,831)
  • Bitcoin (93,139)
  • Business News (98,601)
  • Cardoso (41,234)
  • Crypto News (49,080)
  • Dogecoin (41,234)
  • Ethereum (41,610)
  • Market News (86,385)
  • NFT X Metaverse (41,234)
  • Other alt coins (41,280)
  • Others (2)
  • Shiba in (41,234)
  • Technology News (85,811)

Coin Tori is the #1 Crypto and business blog you can always trust to feed you with the necessary infomation.

Facebook Twitter Linkedin Instagram

Categories

  • Business News
  • Crypto News
  • Technology News
  • Bitcoin
  • Binance
  • Cardoso
  • Other Alt Coin
  • Dogecoin
  • Ethereum
  • NFT X Metaverse
  • Shiba in
  • Market News
  • Others

Tool

  • Crypto Table
  • Exchage Rate
  • Currency Converter

All right reserved - Cointori

Designed By Gentry Stack

We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept All”, you consent to the use of ALL the cookies. However, you may visit "Cookie Settings" to provide a controlled consent. Read More
Cookie SettingsAccept All
Manage consent

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. These cookies ensure basic functionalities and security features of the website, anonymously.
CookieDurationDescription
cookielawinfo-checkbox-analytics11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
cookielawinfo-checkbox-functional11 monthsThe cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
cookielawinfo-checkbox-necessary11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
cookielawinfo-checkbox-others11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
cookielawinfo-checkbox-performance11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
viewed_cookie_policy11 monthsThe cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.
Functional
Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features.
Performance
Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.
Analytics
Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc.
Advertisement
Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. These cookies track visitors across websites and collect information to provide customized ads.
Others
Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet.
SAVE & ACCEPT
bitcoin
Bitcoin (BTC) $ 23,430.28 0.27%
ethereum
Ethereum (ETH) $ 1,680.36 1.40%
tether
Tether (USDT) $ 1.00 0.04%
bnb
BNB (BNB) $ 330.14 0.07%
usd-coin
USD Coin (USDC) $ 1.00 0.07%
xrp
XRP (XRP) $ 0.416251 1.35%
binance-usd
Binance USD (BUSD) $ 1.00 0.02%
cardano
Cardano (ADA) $ 0.404091 0.28%
dogecoin
Dogecoin (DOGE) $ 0.097557 6.28%
matic-network
Polygon (MATIC) $ 1.27 4.06%
  • Home
  • Currency Converter
  • Business News
  • Crypto News
  • Binance
  • Bitcoin
  • Cardoso
  • Dogecoin
  • Ethereum
  • NFT X Metaverse
  • Other alt coins
  • Shiba in
  • Market News
  • Others
  • Technology News
Menu
  • Home
  • Currency Converter
  • Business News
  • Crypto News
  • Binance
  • Bitcoin
  • Cardoso
  • Dogecoin
  • Ethereum
  • NFT X Metaverse
  • Other alt coins
  • Shiba in
  • Market News
  • Others
  • Technology News