© Reuters
Investing.com – Robinhood (NASDAQ:) CEO Vladimir Tenev spoke about how dogecoin could become the “future internet currency.” He outlined the steps to turn it into a usable asset for everyday internet payments and transactions.
Tenev drew attention to the low transaction cost of , around $0.003 per transaction, which could be a significant advantage. According to him, the size and duration of blocks of Dogecoin are the main points to improve for it to be widely adopted. This would improve throughput.
The performance of Dogecoin leaves something to be desired
Dogecoin has a total throughput of around 40 transactions per second (TPS). In comparison, the VISA (NYSE:) network has a throughput of around 65,000 TPS. Tenev claims that this problem can be solved simply by increasing DOGE’s block size limit from 1MB to 1GB and then to 10GB.
Tenev urged dogecoin developers to focus on increasing the block size limit first and foremost.
Dogecoin under the lights
Tenev stepped in after Elon Musk announced plans to take over Twitter (NYSE:). It should be noted that Musk and Twitter are linked to Dogecoin. The former has often promoted cryptocurrency, while has seen rumors of Doge integrating into its systems.
Graphically, the price of Dogecoin has remained relatively similar to other cryptocurrencies and is currently trading at a price of $0.1475.