The founder of the Cardano blockchain, Charles Hoskinson, has stated his desire to create a truly decentralized social network. He plans to join forces with Elon Musk and develop a completely new project from scratch.
The entrepreneur suggested that the founder of Tesla take the concept of the social network Twitter as a basis, but make a unique service. Hoskinson also expressed a desire to integrate the possibility of cryptocurrency payments into a new product. Such an offer was put forward in case the US billionaire fails to get a controlling stake in Twitter. Hoskinson said that modern society needs innovation, and such a platform would appeal to the younger generation of users.
Telos blockchain chief developer Douglas Horn predicted that a similar project could be launched by 2035. Many users of the social network Twitter emphasized that at the moment the Cardano blockchain is not ready to provide the necessary bandwidth for such a product.
Earlier it became known: Musk offered to invest $ 41 billion to ensure complete privacy and confidentiality inside Twitter. Last week, the entrepreneur acquired 9.2% of the company’s shares.
Not all members of the cryptocurrency community were enthusiastic about this idea. For example, Dogecoin co-founder Jackson Palmer criticized Musk for trying to take over Twitter.
Earlier, the editors of Crypto.ru reported that the founder of SpaceX called on Twitter executives to address the problem of the spread of fake crypto advertising. Elon Musk assured that scam projects flooded the social network feed. Prior to that, he criticized the decision of the managers to allow the placement of non-fungible tokens (NFT) as avatars. According to the billionaire, the service should spend money on more significant problems than NFT.
