Vlad Tenev, CEO of Robinhood revealed about how memecoin (Dogecoin) can be the “currency of the future for internet citizens and citizens”. He chose a different view from most people who think of DOGE as an inflationary asset because its supply is infinite. Tenev however Tenev argues that its inflation rate will actually decrease over time.
The American financial services company, Robinhood, started partnering with Dogecoin in 2018. At the time, the US -based firm listed the asset on its platform and that allowed customers to deal with it.
DOGE has gone into a craze early last year with a series of price spikes and this has benefited Robinhood. The organization revealed that DOGE has contributed 62% of its cryptocurrency revenue for Q2 2021.
Tenev shares on how DOGE can be the people -friendly currency of the future and the internet. To achieve such status, the block time should be fast enough so that transactions can be recorded in the next block in a “shorter time than necessary”.
For now the current block of Dogecoin is 1 minute which in his view is inappropriate. However, if the developer is able to reduce the time period to 10 seconds then DOGE has a chance to be expanded further.
"DOGE needs to be able to significantly outperform Visa, which requires an increase in productivity of at least 10,000x and this can be solved by increasing the block size limit," he added.
Tenev also touched on the infinite supply of Dogecoin, which according to many experts, has an inflationary effect. Yet for him it is of the opinion that the inflation rate of memecoin is not more than 5% and it can decline below 2% over time.
On the other hand, Robinhood has recently listed Shiba Inu on their trading platform.
