Cardano’s founder, Charles Hoskinson, told Elon Musk he’s willing to help Musk build a decentralized version of Twitter.
This comes after Musk submitted a $43 billion offer to take full control of the popular social media platform Twitter with the aim of keeping it private and protecting free speech.
Musk’s offer sparked mixed reactions from the board, with one key shareholder, Saudi Prince Alwaleed bin Talal Al Saud, turning down the offer while another member on the board increased its Twitter holdings to more than 10%. With this move, Musk is no longer the largest shareholder of the social media platform.
Crypto community reacts
However, Twitter’s crypto community mocked Charles Hoskinson’s offer, responding to it with various ironic jokes about how long it would take him to build the platform.
The chief architect of the Telos blockchain, Douglas Horn, predicts that it won’t be ready until 2035. Another user said that if it’s similar to what Charles Hoskinson has built before, it won’t scale. .
These comments address some of the issues that have plagued the Cardano blockchain since its launch. While Cardano has seen significant growth in recent months, it is still far from reaching its full potential and lagging behind similar networks with smart contract capabilities.
In another development, FTX founder Sam Bankman-Fried (SBF) theorized what a decentralized Twitter would look like.
According to SBF, web3 technology can be used to creatively monetize the platform, and it will also allow users to reasonably moderate their communities, thus easing the pressure on the company on what is prohibited or removed.
One of SBF’s proposed changes is that tweets will now go chained, or in other words, encrypted. This is because the sender will be allowed to choose who has access to them.