Robin Hood Founder, Elon Musk and Doge Co-Founder Discuss DogeCoin Development
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Answer Robin Hood Founder, Elon Musk and Doge Co-Founder Discuss DogeCoin Development
After the listing of the Sheba Inu on Robin Hood, co-founder and CEO of the platform, Vladimir Tenev, questioned the extent to which Dogecoin could become the future currency of the Internet on Twitter.
The statement sparked a lot of controversy on Twitter, commented by the co-founder of “Dog” Billy Marcus, and Elon Musk, founder of the electric car company Tesla.
“Could Doge really be the future currency of the internet and people?” Tenev wrote last Thursday, before suggesting developments such as lowering transaction fees for the coin as of the last 1.14.5 update in November, and speeding up block time enough to be registered on the chain in time. Less than a point-of-sale transaction, the current Doge blocking time is 1 minute, which is quite a long time for payments.
Read:Ethereum Trading Volume Approaching Bitcoin… Will Ethereum Lead the Next Bull Run?
American billionaire Elon Musk commented:
That block size and time should be in line with the rest of the Internet.
He continued:
It’s better to say that 6000 milliseconds, which is a long time for computers.
Dogecoin co-founder and software engineer Billy Marcus entered the conversation, explaining:
Eight years ago, choosing a one-minute block time was ideal because 45 seconds on a different series was causing a lot of problems, while 60 seconds was the fastest without much of a problem.
Marcus added:
The more it’s fairly fast while still being secure the better, I think the web infrastructure has improved enough in 8 years to experiment with speeding it up.
Tenev touched on the mechanics of Dogecoin supply and explained that Doge is inflationary and unlimited, unlike Bitcoin’s limited supply of 21 million coins.”
About 5 billion new dogs are created each year, and the current supply is about 132 billion, and this results in a significant rate of inflation.
Since American billionaire Elon Musk started talking about expanding the Dogecoin network last year, the coin has seen a lot of jumps, and is now rising more than 4% to trade at $0.14863 a coin.
Read:Elon Musk clarifies his stance on bitcoin after Tesla sells its bitcoin holdings
Source: bitcoin.com
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