Cardano’s Charles Hoskinson has outlined his vision for a decentralized Twitter to the current new head Elon Musk. In a video addressed to the Tesla billionaire, Hoskinson spoke on the mutual opportunities of growth and how the platform’s algorithm has wreck havoc on users’ minds which he claimed needed to change.
According to the founder, Twitter has emphasized growing its user base more than implementing security measures like adequate account verifications [which can tell the difference between a bot and a human or the correct credentials in a user’s profile].
He brought attention to the Atala PRISM, a decentralized identity management system built on the Cardano blockchain.
As per the website, it is a novel identity management strategy where users can own their identities and have total control over how their personal data is used and accessed.
The project is set to be deployed in the first quarter of 2023 on mainnet which will also have cross-chain functionalities.
Hoskinson suggested “redefining” the Tweet space with “nuanced tools,” such as converting the tweets into NFTs to include a reputation score and creating prediction markets where the inclusion of veracity bond will act as a deterrent against false and misleading information, enabling better information flow on the platform.
“Now suddenly the tweet space looks different. You have nuanced tools that are extensible to curate the info. You have economic agencies behind the info….people sharing these tweets have their reputation tied.”
Cardano Founder Spoke On DOGE And ADA
He however admitted that “curation” of information at such a scale is not an easy task. The IOHK head also cited several crypto platforms that are working towards a similar goal.
One such is the Basic Attention Token [BAT], a blockchain-based system for monitoring media consumers’ time and attention on websites using the Brave web browser.
Where is DOGE in the equation?
Hoskinson proposed creating a sidechain with “super fast BFT protocol” and DOGE acting as advertising, marketing, and a veracity token.
According to him, the biggest hurdle to decentralized Twitter is its algorithm which he maintained is optimized only to make money and spew hatred among users.
He also suggested a collaboration in which ADA and Doge may gain from one another. “Doge can provide all amazing things being the currency of the social networking site. In turn, Cardano can provide security, decentralization, infrastructure, and an ecosystem.”