Cardano founder Charles Hoskinson told Ilon Musk that he is willing to help him create a decentralized version of Twitter.
Earlier, Musk made an offer to buy Twitter for $43 billion with the intention of turning the social network into a private platform to protect free speech.
However, the cryptocurrency community ridiculed Hoskinson’s proposal, meeting him with jokes about how long it would take him to create such a platform.
Telos blockchain chief architect Douglas Horn suggested that the social network would not be developed until 2035. Another user said that if a “decentralized Twitter” were similar to what Hoskinson previously developed, it would not scale.
For his part, FTX founder Sam Bankman-Fried hypothesized what a decentralized Twitter would look like.
He suggested that Web3 technology could be used to creatively monetize the platform, and would also allow users to properly moderate their communities, removing the responsibility from the company as to what should be banned or left.
Bankman-Fried also said that tweets could be passed down the chain in encrypted form.
In addition, he noted that a new social network could easily integrate all the benefits of crypto-space, like NFT.