Cardano, Doge can profit Twitter: Cardano founder to Elon Musk
Elon Musk's takeover of Twitter is still making headlines. As large advertisers take their ads from Twitter, the company's financial viability is called into question. Cardano Founder Charles Hoskinson, on the other hand, feels that a decentralized Twitter can alleviate many of the company's problems. In a video, the Cardano founder presented Elon Musk with the idea of a decentralized Twitter using Cardano and Doge.
Cardano and Doge, according to Hoskinson, can play a significant role in a decentralized Twitter. Elon Musk has previously publicly backed Dogecoin.
The Decentralized Twitter Concept
A decentralized Twitter is not a novel concept. Blockchain enthusiasts see it as an alternative to the centralized paradigm used by many social media firms. Hoskinson goes into greater detail about this issue. He claims that Twitter's social network is already decentralized. However, it is Twitter's overarching curation that causes centralization difficulties.
Storage, information flow, computation, and artificial intelligence are all examples of overarching curation. He emphasizes the crypto community's ability to assist with peer-to-peer protocols, incentives engineering, and cryptography. He demonstrates how Elon Musk may use Cardano and Doge to address many of the platform's issues.
Hoskinson is not the first well-known figure to advocate for this concept of a decentralized Twitter. Evan Henshaw-Blath, Jack Dorsey's former boss, has announced that he is working on a decentralized Twitter. Lit Protocol co-founder David Sneider released an article for CoinDesk explaining his version of Twitter to Elon Musk.
Will Elon Musk use Doge or Cardano
Elon Musk has publicly backed Dogecoin several times. However, he is apprehensive to use other crypto networks. Musk first accepted Bitcoin payments for Tesla services. He later suspended it owing to energy consumption.
While Cardano does not consume the same amount of energy as Bitcoin, it has been particularly volatile throughout the crypto winter. Nonetheless, Hoskinson feels that Elon Musk should utilize Cardano and Doge to tackle Twitter's problems.
