In late October, Charles Hoskinson, who said that Twitter should use the Cardano network as a side chain, gave new explanations on this subject.
Cardano founder talks about Elon Musk’s Twitter plans
Speaking at the 2022 Web Summit event in Lisbon, Portugal, Hoskinson said that Cardano will evolve into a “Blockchain network” in the long run. In part of his statements, he explained why Dogecoin and BNB Coin could be part of Elon Musk’s Twitter plan. The Cardano founder estimates that Elon Musk’s takeover of Twitter will bring an additional 200 million users to the market. He also says that Tesla and SpaceX CEO will prefer Dogecoin for Twitter.
Hoskinson, however, pointed out some issues about Dogecoin. He said that PoW Blockchain is currently not enough for 200 million people. However, he states that building a Dogecoin side on Cardano would help. Hoskinson says Cardano will help Dogecoin scale. He proposes to build a bridge between both projects.
Hoskinson later said that he sees “a lot of great things on the horizon” about the cryptocurrency market. On the evolution of technology, he commented that “we are in the middle of third generation cryptocurrencies”. Hoskinson states that the second wave is smart contracts brought by Ethereum. He says the third wave brings scalability, interoperability and management to the industry. The Cardano founder referred to Algorand, NEAR, Tezos, and Cardano as “combat” protocols in the third generation. He predicted that the fourth generation could bring “multi-source consensus, embedded identity, post-quantum innovations.”
Charles Hoskinson says Binance is also in the Twitter game
The founder also evaluated Binance’s $500 million investment in Musk’s Twitter acquisition. He suggested that this money was thrown to accommodate cryptocurrencies on the platform:
I don’t know anything about it, but if I had to guess, I think Binance is striving for it… You put half a billion dollars in it, which is a pretty big sum if it’s just a passive investment. I think there are all kinds of intentions to be part of the crypto talk.
Cardano CEO also says Twitter is hungry for new features. He stated that the platform needs a lot of things to integrate, including wallet solutions, information-gathering algorithms, and smart contract capabilities. Additionally, Binance CEO revealed that CZ invested $500 million in the Twitter acquisition of Elon Musk to “help bring Twitter to Web3 when they’re ready.”
CZ wants Binance to be on “free speech platform”
The CEO detailed that Binance’s investment in Twitter was “put together a few months ago.” He added that there are many reasons for Binance to support the deal, including Twitter being a “global, extremely important free speech platform.” Binance has since launched the “Bluebird Index,” an index that tracks the performance of BNB, as well as Dogecoin and a little-known altcoin called Mask Network (MARK). This index is calculated using a formula that includes “weighted averages of real-time prices of tokens on the Binance market.” cryptocoin.comIn this article, we have described what happened when the announcement first appeared.
