Vladimir Tenev, CEO of Robinhood, a stock and crypto trading firm, has described Dogecoin as an important cryptocurrency. However, at the same time he said that the transaction fees associated with Dogecoin need to be significantly reduced. Earlier, Elon Musk, the head of electric car maker Tesla, has also given a similar opinion.
Tenev believes that making some changes to Dogecoin can significantly increase its use. He said that it can become an effective means of daily payments and online transactions. Tenev has twitter Through told what improvements are needed to increase the use of Dogecoin. He said that its block size and time associated with the block should be improved. Along with this, he told the need to reduce its gas fee. Dogecoin has a block size of 1 MB and a block time of 1 minute, allowing an output of 40 transactions per second.
Soon for Dogecoin even without internet access Transactions can start. For this, work is being done on a project called RadioDoge. Dogecoin Foundation developers Michi Lumin and Timothy Stebbing explained how RadioDoge could facilitate offline DOGE transactions using SpaceX’s Starlink satellite network.
These developers have also said in a blog post that a RadioDoge Regional Hub has been created which will conduct testing for this new technology. Its prototype consists of a wire antenna and tree. “RadioDoge seeks to bring Dogecoin to people who are outside the Internet, by combining the global Starlink satellite network with low-cost and reliable radio technology,” he explained. He said that the first such transaction would be transmitted from HF radio in Colorado, USA, to a regional hub more than 150 miles away. Transactions from the Regional Hub will be routed to the Dogecoin testnet using the Starlink satellite. Apart from RadioDoge, the foundation is also working on some other projects that could increase the popularity of Dogecoin. However, the foundation did not specify when RadioDoge is likely to launch.