Dogecoin can Play an Important Role in Building Decentralized Twitter
Twitter purchase is a topic that is trending all over the world. The news on the block is that Tesla CEO is planning to transform the social media network into a decentralized blockchain with crypto integrations.
Among the top candidates for the transition is Dogecoin, which the SpaceX CEO is himself responsible for bringing into the public eye.
To this end, Cardano founder Charles Hoskinson has taken a keen interest. He has also invited Musk to deploy Dogecoin on the Cardano blockchain for free.
He has also exclaimed that the Cardano blockchain partnership is going to assist the social media platform in solving some inherent issues for the social media network. He posted his views in the latest YouTube video.
Ever since the news about Musk’s Twitter acquisition broke in international media, the prices of Dogecoin soared. The meme currency was able to rise higher than Cardano native ADA in terms of market capitalization.
To this end, Cardano CEO has been following the progress and changes at Twitter under the siege of the Tesla CEO.
Hoskinson has claimed that by using Cardano as a stepping stone, Twitter can achieve its goal of increasing user acquisition.
Furthermore, he mentioned that the social media enterprise would also be able to filter out the addition of illegitimate users and fake accounts. To meet all these goals, Hoskinson has kept offering partnership proposals.
Dogecoin and Cardano Network
Hoskinson has been tracking the development of the new Twitter for a long time. He also mentioned an exclusive project of a neutral cross-chain tool for identification for Twitter. As per his ideas, Twitter could use Dogecoin in this verification API.
He mentioned that since DOGE is a Bitcoin fork, it requires side-chain support that should ideally be by the Web 2.5 ecosystem.
In addition to veracity tokens, Doge can also be utilized for adverts and NFT minting or purchases, among other things.
Another idea shared by Hoskinson is that Stake Pool Operators (SPOs) will be able to get both ADA and Dogecoins for holding ADA in contrast to the customary Doge rewards for miners.
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