Cryptheory – Just Crypto

Cryptocurrencies are our life! Get an Overview of Market News

Cardano Founder Wants To Build Decentralized Twitter With Elon Musk

2 min read


Cardano founder Charles Hoskinson proposed creating a new decentralized social media platform together with Elon Musk, CEO of Tesla.

Hoskinson invited Musk to work with him if the billionaire’s audacious attempt to take over Twitter fails.

Musk still hasn’t responded to Hoskinson. But he has already stated that if he is not successful in buying 100% of Twitter he will sell his stake in the social network.

However, if Musk and Hoskinson partner to develop a decentralized social network, it would not happen until 2035, according to Douglas Horn, the chief architect of the Telos blockchain,

Horn’s claims are a critique of Cardano’s delays in delivering the products promised on its blockchain. At the same time, it is a criticism of Musk, accused of keeping his companies only with marketing, since all of them would lose billions of dollars.

Another Twitter user joked that the platform would only be able to send 10 messages per minute, alluding to various technological issues that plague Cardano-based apps.

Musk and Twitter

Musk made an offer to pay $41 billion to make Twitter private. He claimed that his offer was intended to protect freedom of expression. Prior to that, he acquired a 9.2% stake in the company.

The idea that the richest person in the world, who used Twitter to publicly troll, harass and bully people, could become the owner of the highly influential social media platform has caused a lot of controversy.

Dogecoin co-founder Jackson Palmer, for example, criticized Musk for attempting a hostile takeover of Twitter.

Furthermore, critics argue that the mogul is far from a free-speech messiah. Instead, his real motive is to get revenge on the US Securities and Exchange Commission (SEC).

As part of his deal with the regulator, Musk’s tweets need to be pre-approved before being published. That is, now the billionaire would be trying to get rid of his “Twitter nanny”.

But Musk’s task may not be easy as Saudi Prince Alwaleed bin Talal Al Saud, a major shareholder in Twitter, has rejected Musk’s offer. Likewise, the company’s board is also unwilling to accept the deal.

Musk said he’s “not sure” whether or not he’ll be able to take control of Twitter. But he stated that he has “a plan B” without revealing details.

Which cryptocurrencies have the highest return on investment in staking?

All content in this article is for informational purposes only and in no way serves as investment advice. Investing in cryptocurrencies, commodities and stocks is very risky and can lead to capital losses.

Leave a Reply

Your email address will not be published. Required fields are marked *