Robinhood CEO says it'd be possible for dogecoin to 'outperform Visa' and become the future of currency

• Robinhood CEO Vlad Tenev took to Twitter to break down his thoughts on the cryptocurrency, dogecoin.
• "Can #Doge truly be the future currency of the Internet and the people?" he wrote to begin a Twitter thread.

Robinhood CEO Vlad Tenev speculated on Twitter about dogecoin's potential as a currency of the future, and posed a hypothetical for how the meme token could compete with a payments giant like Visa.

The block time for dogecoin, or the time it takes to add new blocks to the blockchain for transaction verification, should be faster than it currently is, Tenev explained in a Twitter thread on Thursday.

"Can #Doge truly be the future currency of the Internet and the people? As we added the ability to send/receive DOGE on Robinhood, I've been thinking about what that would take," Tenev wrote.

At its current rate, the meme-based cryptocurrency can complete roughly 40 transactions per second, Tenev estimated.

Credit card and payment processing giant Visa, on the other hand, can complete about 65,000 transactions per second. "Doge would need to be able to significantly outperform Visa, which entails increasing throughput by at least 10000x," he wrote.

But that number wouldn't be impossible to reach for dogecoin because it's a matter of increasing the block size.

Additionally, Tenev noted that doge is inflationary with an infinite supply, compared to bitcoin's finite supply. But given the number of tokens created per year, doge's inflation rate is less than that of the dollar, he explained.

For the coin to develop further, he encouraged programmers to focus on the transaction rate.

"I would focus on one thing: coming up with a good process for increasing block size limit over time. Let me know what you all think!"

Earlier this week, Robinhood added shiba inu coin and other popular altcoins. Following a pop in trading revenue driven by the rise of dogecoin last year, trading activity across digital assets dwindled on the platform as 2021 came to a close.