Hoskinson’s Twitter proposal for Cardano-Dogecoin tie-in snubbed by Reddit mods

by Cryptospacey

Moderators of the Dogecoin subreddit eliminated a publish by Cardano founder Charles Hoskinson on a proposal to make the most of each cryptocurrencies in a decentralized Twitter.

Hoskinson mentioned he stays “optimistic a few strong dialogue,” regardless of the snub. He additionally intends to “attain out to some folks” to advance discussions of the proposal.

Dogecoin and Cardano for decentralized Twitter

Important adjustments have been applied following Elon Musk’s takeover of Twitter on October 28, together with firing high executives, board dissolution, and a 50% discount in headcount.

Musk is contemplating the very best step ahead to comprehend plans for a blockchain-based social media platform. Nonetheless, the newest information on the matter revealed that cryptocurrency integration is on the again burner for now.

Following Binance’s $500 million funding within the Twitter takeover, Binance CEO Changpeng ‘CZ’ Zhao fielded questions in a latest AMA concerning the deal. He mentioned the crypto neighborhood wants to offer Musk time to seek out his bearings.

Though Dogecoin is extensively anticipated to kind a part of Musk’s plans, CZ mentioned it will be higher to include a couple of cryptocurrency.

Eager to put Cardano within the working, Hoskinson posted a video by which he shared his ideas on constructing a decentralized Twitter with Dogecoin and Cardano.

Within the hour-long video, Hoskinson broke down how DOGE and ADA might be utilized in such a capability. For instance, utilizing digital id mechanisms to take away bots, and changing the present enterprise mannequin in order that the advertisers’ affect doesn’t impression the curation of tweets, i.e., high quality info is prioritized over sponsored posts/adverts.

Hoskinson adjustments tune over DOGE

In response to the proposal, Dogecoin co-founder Billy Markus posted a video from April 2021, as DOGE was constructing to its $0.70 all-time excessive, by which Hoskinson criticized market manipulation by Musk and DOGE whales.

He mentioned the unbelievable worth run-up is unsustainable and can ultimately collapse, resulting in ache for retail buyers and the probability that regulators will likely be compelled to behave with strict new guidelines for the cryptocurrency trade.

“DOGE has all the time been, for our trade, an inside joke, a pet rock, a enjoyable mocking cryptocurrency, light-hearted factor. It simply all the time appears to be round, however it’s one thing, for probably the most half, that we now have by no means taken critically.”

Others gave related responses, together with feedback about Hoskinson pivoting “making an attempt to trip on Doge’s wave.”

Justifying his pro-DOGE tune, Hoskinson mentioned the challenge now has a use case apart from memes.

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