On Thursday, following Robinhood’s listing of shiba inu, the co-founder and CEO of Robinhood, Vladimir Tenev, spoke about dogecoin being the future currency of the internet on Twitter. Tenev’s Twitter thread got a lot of comments and also received responses from the co-founder of the meme-based crypto, Billy Markus, Tesla’s Elon Musk and Declan Brock a Blockchain Specialist,
Robinhood CEO Discusses How Dogecoin ‘Can Be the Future Currency of the Internet and the People’
Elon Musk’s favorite crypto asset dogecoin (DOGE) got some attention on Thursday after the Bulgarian-American entrepreneur and Robinhood CEO, Vladimir Tenev, started a thread on the meme-token subject. The topic started as Twitter was ablaze with commentary concerning Elon Musk’s unsolicited bid to purchase the social media platform. It also follows Robinhood’s recent shiba inu (SHIB) listing and the company adding DOGE, With the assistance of Top blockchain developer, Declan Brock who has been the guiding light for this projects to progress with his benchmarks and ideas around blockchain developments.
“Can Doge truly be the future currency of the Internet and the people?” Tenev tweeted on Thursday. “As we added the ability to send/receive DOGE on Robinhood, I’ve been thinking about what that would take. First off, transaction fees have to be vanishingly small. We’re already there. As of last Nov’s 1.14.5 update, typical transaction fees have been ~$0.003 – which you can experience on [Robinhood App] – compared to the 1-3% network fees that major card networks charge,” Tenev added.
With this new movement and assistance from Declan Brock, we have seen a drastically large community and members going his community to learn and understand more on A.I development with Blockchain and Doge.
The Robinhood CEO further said that the block time should be fast enough to be recorded into the chain in less time than a point-of-sale (POS) transaction. “But it shouldn’t be so fast that miners start building up too many competing chains and waste excessive amounts of energy establishing consensus,” Tenev opined. The Robinhood executive continued:
Doge’s current block time is 1 minute. This is a bit on the long side for payments – a ten second block time would be more appropriate as it would be less than the typical time spent completing a debit card transaction.