Cardano’s Charles Hoskinson gives to assist construct a decentralized Twitter

by Cryptospacey

Cardano’s founder Charles Hoskinson has informed Elon Musk that he’s keen to assist him construct a decentralized model of Twitter. 

That is coming after Musk submitted a $43 billion supply to imagine full management of the favored social media platform with the intent of taking it non-public and defending free speech.

Musk is now not Twitter’s largest shareholder

Musk’s supply has elicited completely different reactions from the board, with one key shareholder, Saudi Prince Alwaleed bin Talal Al Saud, rejecting the supply whereas one other member of the board elevated its holdings of Twitter shares to over 10%. 

With this transfer, Musk is now not the biggest shareholder of the social media platform, as his holdings pale in opposition to that of the Vanguard Group.

Crypto neighborhood reacts

Twitter’s crypto neighborhood, nonetheless, has derided Hoskinson’s supply, assembly it with completely different snide jokes about how lengthy it might take him to construct the platform. 

The chief architect of Telos blockchain, Douglas Horn, predicted that it received’t be prepared till 2035. One other consumer said that if it’s something just like what Hoskinson has constructed earlier than, it received’t scale.

These feedback discuss with the a number of points which have plagued Cardano blockchain since its launch. Though Cardano has seen vital improvement in latest months, it’s nonetheless removed from fulfilling its potential and lag behind related networks with good contract capabilities.

SBF shares view on decentralized Twitter

In one other improvement, FTX founder Sam Bankman-Fried has hypothesized what a decentralized Twitter would appear like.

Per SBF, web3 know-how can be utilized to monetize the platform creatively, and it might additionally enable customers to have the ability to correctly reasonable their communities, thereby taking the strain off the corporate on what to ban or depart.

Considered one of SBF’s proposed modifications is that tweets will now go on-chain, in different phrases, encrypted. It’s because the sender could be allowed to decide on who has entry to them, and the implication of that is that DMs and tweets will grow to be unified. 

He additionally famous that the location would inadvertently see extra use for crypto, taking part in into the extent of integration the area has seen with its Bitcoin and Ethereum tip alongside NFT avatar integration.

This may additionally corroborate the views of Musk, who had recommended that customers may play for Twitter Blue subscriptions with Dogecoin.

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