Cardano’s Charles Hoskinson Predicts Crypto Will Play Important Function in Elon Musk’s Twitter Takeover


Cardano (ADA) creator Charles Hoskinson thinks Elon Musk “has each intention” of integrating crypto into Twitter.

At a Net Summit Occasion this month, Hoskinson predicted that Musk’s Twitter possession will convey crypto to 200 million folks.

He speculated that Twitter might combine with one in every of Musk’s favourite cryptos, Dogecoin (DOGE), however famous that DOGE’s expertise in the intervening time couldn’t scale to deploy to 200 million folks.

Hoskinson stated “it will be numerous enjoyable” to make Dogecoin a sidechain of Cardano or at the least construct a bridge between the 2 tasks to assist DOGE scale. He additionally, nevertheless, speculated that Binance’s $500 million funding in Musk’s Twitter takeover had one thing to do with competing for that function.

“I don’t have any info on it, but when I needed to guess, I feel that’s what Binance is pushing for… You place a half-billion {dollars} into it, that’s a reasonably large test measurement if it’s only a passive funding.

I feel there’s each intention to be part of the crypto dialog. You possibly can both be a part of the infrastructure aspect, the liquidity aspect, as a regulated monetary actor – there’s a litany of issues you are able to do. And for a platform as giant and pervasive as Twitter, you want the entire above…

You want pockets options, you want exchanges, you want algorithms to curate info [and] you want sensible contract capabilities. NFTs [non-fungible tokens] might play a serious function since you might signify an account or info as an NFT.”

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