Thursday, July 7, 2022

Mark Cuban Suggests Elon Musk to Use Upgraded DOGE on Twitter Spammers

HometechMark Cuban Suggests Elon Musk to Use Upgraded DOGE on Twitter Spammers

Now that Twitter has accepted Elon Musk’s offer to it, the Tesla chief is loudening his promise of ridding Twitter from spammers and bots. As a rather unconventional suggestion, Mark Cuban has advised Musk to get Dogecoin an upgrade with an “Optimistic Rollup,” or layer-2 solution, making it more efficient and secure. After this is done, Twitter under Musk, could ask everybody to put up one DOGE as a collateral for getting to post unlimited tweets. This large pool of DOGE, in Cuban’s plan, would serve as tempting prizes for people taking an initiative to report spam posts on Twitter.

At any point afterwards, a tweet is flagged for being a spam and humans confirm it by voting, those who flagged the post would get and share the spammer’s DOGE tokens as a reward.

If, however, the post does not turn out to not be spam, the contesters would lose their DOGE.

As part of his proposal, Cuban further noted that spammers who get identified will have to add 100 Dogecoins to the Twitter pool, to be able to create any next post.

Each Dogecoin is trading at $0.14 (roughly Rs. 10) on international exchanges at the time of writing.

Cuban, the owner of NBA’s Dallas Mavericks team, was replying to a Twitter conversation between American businessman Marc Andreessen and Musk.

The former had posted a screenshot of spam tweets being posted from another random account, using his name.

“What algorithm could possibly catch this?” Andreessen tweeted, to which Musk replied in a single word, “Humans”.

Cuban’s proposal has garnered appreciation from the general public, who are rooting for a shared governance system for the next chapter of Twitter. Even Dogecoin’s creator who goes by the name of Shibetoshi Nakamoto, expressed excitement.

Others have, however, also pointed out that this would push millions of resistant people into purchasing DOGE just to post on Twitter and could end up with Twitter losing users.

The lackluster growth history of the meme-coin also emerged among reasons why people do not want to invest in DOGE just for the sake of Twitter.

In April, Musk pitched his favourite cryptocurrency, the Dogecoin, as a payment option for users seeking to avail Twitter Blue services.

Last month, Twitter accepted Musk’s purchase offer of $44 billion (roughly Rs. 3,36,800 crore).

Musk aims to tackle crypto bots, that may be promoting scam posts on Twitter.

“If I had a Dogecoin for every crypto scam I saw, we’d have 100 billion Dogecoin. A top priority I would have is eliminating the spam and scam bots and the bot armies that are on Twitter,” Musk recently said in a TED Talk while speaking to the curator Chris Anderson.