Will Elon Musk Accept Cardano (ADA) Founder’s “Alternative Twitter” Offer?

Will Elon Musk Accept Cardano (ADA) Founder’s “Alternative Twitter” Offer?

Elon Musk’s bid to purchase Twitter and take it non-public has sparked a number of 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 gives to construct decentralized Twitter with Musk

In a follow-up tweet, Hoskinson acknowledged that the platform could 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 could be restricted to Cardano. Nonetheless, the person pressed on saying limiting the platform to simply the three blockchains wouldn’t do for a really decentralized social media expertise. 

In the meantime, different crypto market leaders have additionally keyed into the thought of creating Twitter decentralized, and censorship-resistant. Sam Bankman-Fried, the CEO and co-founder of FTX change, shared some ideas on what a decentralized model of Twitter might seem like.

SBF, as he’s generally referred to as, opined that the platform might enable customers to publish encrypted tweets on-chain. Monetization can then come from both micro-fees for posting tweets, or the person interface (UI). In the end, both mannequin of monetization could 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 mentioned.

In distinction, Justin Solar, the founding father of TRON, has supplied to outbid Elon Musk. In a tweet, the crypto entrepreneur mentioned that he’s providing $60 per share to take Twitter totally non-public. He additionally shares Elon Musk’s imaginative and prescient for Twitter to turn out to be crypto-native he mentioned.

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 reworked 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 closing choice. In the meantime, Musk continues to use strain, saying a rejection of the invoice would name into query the board’s stage of accountability to shareholders.  

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