Robinhood CEO Gave Dogecoin Some Recommended Improvements to Grow its Popularity

Robinhood CEO Gave Dogecoin Some Recommended Improvements to Grow its Popularity

In a Twitter thread, Robinhood CEO Vlad Tenev recommended a few improvements that might help Dogecoin become the internet’s and people’s currency.

According to the CEO, transaction costs for $DOGE must be “vanishingly small” in order for it to gain widespread popularity. The Dogecoin Core 1.14.5 upgrade, which went live in November, reduced transaction costs considerably. As Tenev points out, this makes it a lot more affordable option than mainstream card networks, which normally charge up to 3% each transaction.

He also suggests that the block time be decreased to 10 seconds. Dogecoin would be able to compete with Visa and other card networks in this way. Tenev, on the other hand, feels that the block duration should not be excessively short so that miners do not use too much energy establishing consensus.

Tenev has recommended expanding the block size of Dogecoin to 10 gigabytes (GB). One of the main reasons against raising the block size is that it would inevitably lead to more centralization since running a complete node would need the use of expensive hardware. 

A few days ago, Robinhood has finally listed Shiba Inu on its platform and the token is now available for trading. The SHIB community is thrilled with the news of Robinhood listing Shiba Inu. Their voices are finally heard after they collectively banded together in August last year urging the leading exchange to list the token. It took Robinhood eight months to finally list Shiba on its platform and get users to transact the token.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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