Elon Musk’s bid to purchase Twitter and take it personal has sparked numerous discussions. Charles Hoskinson, the CEO of IOG and founding father of Cardano, commented that he’s open to serving to Musk construct a decentralized social media platform ought to his Twitter bid fall by means of.
Cardano’s Charles Hoskinson presents to construct decentralized Twitter with Musk
In a follow-up tweet, Hoskinson acknowledged that the platform can be “cross-chain with Bitcoin, Doge, and Cardano” supported by default. He made the declare in response to “Robobubo,” a Twitter person who requested if the hypothetical platform can be restricted to Cardano. Nevertheless, the person pressed on saying limiting the platform to simply the three blockchains wouldn’t do for a very decentralized social media expertise.
In the meantime, different crypto market leaders have additionally keyed into the concept of creating Twitter decentralized, and censorship-resistant. Sam Bankman-Fried, the CEO and co-founder of FTX trade, shared some ideas on what a decentralized model of Twitter may appear like.
SBF, as he’s generally known as, opined that the platform may enable customers to publish encrypted tweets on-chain. Monetization can then come from both micro-fees for posting tweets, or the person interface (UI). Finally, both mannequin of monetization can be good for the platform.
Would this be good for Twitter’s backside line?… Would this democratize social media, make the funds clear, and take away single level of failure moderation? Yup, he stated.
In distinction, Justin Solar, the founding father of TRON, has provided to outbid Elon Musk. In a tweet, the crypto entrepreneur stated that he’s providing $60 per share to take Twitter totally personal. He additionally shares Elon Musk’s imaginative and prescient for Twitter to turn into crypto-native he stated.
What are Elon Musk’s plans for Twitter?
It has been a dramatic few days with Elon Musk, the world’s richest man, and Twitter. The Tesla and SpaceX CEO initially acquired 9.2% of the corporate and was near changing into a member of the board.
He nevertheless turned down the board seat on the final minute. Within the succeeding days, Musk filed a bid with the SEC to purchase Twitter for round $43 billion in money. He outlined that for the platform to succeed in its full potential in upholding free speech, it wanted to be remodeled as a non-public firm.
The saga continues to play out because the administration of Twitter has acknowledged receiving the “unsolicited, non-binding proposal” however has not reached a ultimate determination. In the meantime, Musk continues to use strain, saying a rejection of the invoice would name into query the board’s stage of duty to shareholders.
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The introduced content material might embrace the non-public opinion of the writer and is topic to market situation. Do your market analysis earlier than investing in cryptocurrencies. The writer or the publication doesn’t maintain any duty in your private monetary loss.
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