.vladtenev has laid out his plan for improving Dogecoin
The 35-year-old executive claims that transaction fees have to be “vanishingly small” for the meme cryptocurrency to reach widespread acceptance. The Dogecoin Core 1.14.5 upgrade, which was implemented last November, significantly lowered transaction fees. As noted by Tenev, this makes it a much cheaper alternative to popular card networks that typically charge up to 3% per transaction.
The Robinhood executive also says that the block time should be reduced to just ten seconds. In such a way, Dogecoin would be able to compete with Visa and other card networks. However, Tenev also believes that the block time shouldn’t be too fast so that miners wouldn’t have to waste too much energy on establishing consensus.Dogecoin Satoshi’s Vision?
Tenev has proposed increasing Dogecoin’s block size to 10 gigabytes , which would make it possible for the Bitcoin parody to handle a high number of transactions. One of the key arguments against increasing the block size is that it would inevitably result in a higher degree of centralization since one would be required to operate expensive hardware in order to run a full node. Tenev, however, believes that it would be a reasonable trade-off, seemingly echoing Bitcoin SV supporters.
Dogecoin co-founder Billy Markus has commented that the infrastructure of the web has improved enough to speed up Dogecoin. Centibillionaire Elon Musk has also
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Binance CEO explains what he's most excited about in 2022Binance's CZ was in Paris this week and explained how local governments are accelerating crypto's adoption.
Read more »
Crypto firm Ripple's court battle with the SEC has gone 'exceedingly well,' CEO saysRipple's fight against a lawsuit from the Securities and Exchange Commission has gone 'exceedingly well,' CEO Brad Garlinghouse said.
Read more »
Amazon CEO Andy Jassy says Amazon could sell NFTs in the futureJassy adds that he doesn’t own bitcoin or NFTs, and doesn’t think Amazon is close to adding crypto payment options in the future.
Read more »
Tesla CEO Elon Musk offers to buy Twitter for $43 billionThe Tesla CEO is offering to buy the social media platform just days after saying he would not join the company’s board of directors.
Read more »
Tesla CEO Elon Musk offers to buy Twitter for $43 billionTesla CEO Elon Musk is offering to buy Twitter. He says the social media platform he has criticized for not living up to free speech principles needs to be transformed as a private company.
Read more »
Tesla CEO Elon Musk offers to buy Twitter for $43 billionTesla CEO Elon Musk is offering to buy Twitter, saying the social media platform he has criticized for not living up to free speech principles needs to be transformed as a private company.
Read more »