In a recent tweet, Tesla CEO Elon Musk stated that the largest cryptocurrency, Dogecoin, can help alleviate Twitter’s spam problem.
The concept that piqued Musk’s interest was first proposed by fellow billionaire Mark Cuban.
Cuban advocated that Dogecoin include an optimistic rollup. Every Twitter user would be forced to put up 1 DOGE in order to post an unlimited number of times. After successfully contesting the spammer’s post, real persons would be able to obtain the spammer’s tokens. In contrast, wrongly labeling some tweets as spam will result in the loss of Doge tokens.
In reaction to Cuban, Dogecoin co-founder Billy Markus said he likes such a concept “a lot.”
Cuban, who was formerly a strong critic of cryptocurrencies, has since become a supporter of the meme coin. The owner of the Dallas Mavericks believes it has the potential to become a sustainable currency.
Dogecoin skyrocketed after Twitter agreed to a buyout with Musk. The controversial entrepreneur is planning to purchase the social networking platform for a whopping $44 billion. However, some still believe that the sale will not be completed, claiming that it is really a PR gimmick.
Many people assume that if Musk takes control of Twitter, he will integrate Dogecoin. The billionaire has already stated that he intends to use the Dogecoin parody to pay for Twitter Blue subscriptions. Musk has also supported the concept of allowing people to tip with Dogecoin.