Elon Musk says Dogecoin could beat Bitcoin, Ethereum and other blockchains if these conditions are met

Elon Musk has become an important figure known to most remotely aware of cryptocurrency. The Tesla and SpaceX CEO is also known to be the most influential Dogecoin fan.

Elon made a tweet soliciting feedback from the public on ideas to enhance the meme currency even further after announcing earlier in May that he would be working with Dogecoin’s developers to “improve system transaction efficiency.”

On July 9, he published a tweet, suggesting DOGE could become superior to Bitcoin and Ethereum as the meme coin will offer much faster and cheaper transactions than these top-line blockchains with a major upgrade.

BTC & ETH are pursuing a multilayer transaction system, but base layer transaction rate is slow & transaction cost is high.

There is merit imo to Doge maximizing base layer transaction rate & minimizing transaction cost with exchanges acting as the de facto secondary layer.

— Elon Musk (@elonmusk) July 9, 2021

IT Engineer Pranay Pathole wrote in his reply DOGE is already faster and highlights making block speed ten times faster is going to be hard.

Doge is already 15x faster than Bitcoin.

Fee drop is easy to achieve.

Block size increase is easy to achieve.

Block time speed up by 10x is the hardest part.

— Pranay Pathole (@PPathole) July 9, 2021

Elon responded suggesting a way how DOGE developers can implement the task.

Block size & frequency should steadily increase to match broadly available bandwidth

— Elon Musk (@elonmusk) July 9, 2021