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Cardano’s founder Charles Hoskinson has instructed Elon Musk that he’s prepared to assist him construct a decentralized model of Twitter.
@elonmusk Elon if Twitter rejects your supply, then hit me up. Blissful to construct a decentralized one
— Charles Hoskinson (@IOHK_Charles) April 14, 2022
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 personal 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%.
I do not consider that the proposed supply by @elonmusk ($54.20) comes near the intrinsic worth of @Twitter given its progress prospects.
Being one of many largest & long-term shareholders of Twitter, @Kingdom_KHC & I reject this supply.https://t.co/Jty05oJUTk pic.twitter.com/XpNHUAL6UX
— الوليد بن طلال (@Alwaleed_Talal) April 14, 2022
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 will take him to construct the platform.
Cannot await the college analysis papers on how nice of a product you’ll construct in 5 years
— Devchart 👨🏻💻 (@devchart) April 14, 2022
The chief architect of Telos blockchain, Douglas Horn, predicted that it gained’t be prepared till 2035. One other consumer said that if it’s something just like what Hoskinson has constructed earlier than, it gained’t scale.
It’ll solely be capable to ship 10 messages a minute and take 5 years to construct.
— BakingBenjamins.tez (@BakingBenjamins) April 14, 2022
These feedback consult with the a number of points which have plagued Cardano blockchain since its launch. Though Cardano has seen vital growth 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 growth, FTX founder Sam Bankman-Fried has hypothesized what a decentralized Twitter would seem like.
1) FWIW, some ideas on what a decentralized Twitter would possibly seem like:
— SBF (@SBF_FTX) April 14, 2022
Per SBF, web3 know-how can be utilized to monetize the platform creatively, and it will additionally enable customers to have the ability to correctly reasonable their communities, thereby taking the strain off the corporate on what to ban or go away.
One in all SBF’s proposed modifications is that tweets will now go on-chain, in different phrases, encrypted. It is 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 turn into unified.
He additionally famous that the positioning would inadvertently see extra use for crypto, enjoying into the extent of integration the area has seen with its Bitcoin and Ethereum tip alongside NFT avatar integration.
This might additionally corroborate the views of Musk, who had instructed that customers might play for Twitter Blue subscriptions with Dogecoin.
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