The giant Twitter is undergoing a revolution since the arrival at its head of Elon Musk. It has been known since December that the company was working on some form of currency, and new information appears to have leaked. In particular, we know more about a possible use of the blockchain.
The company continues to work on its “Twitter Coin”
A new find by Jane Manchun Wong is the source of this new information. Known for investigating apps to reveal hidden features, she noted that Twitter was now working on a buy page for his “Twitter Coin” :
Twitter is working on Coins purchasing screen
On the web, Twitter Coins purchase will be done through Stripe https://t.co/RFpWswnZfG pic.twitter.com/eAzPWjfoye
—Jane Manchun Wong (@wongmjane) January 10, 2023
The screenshot shows how Twitter describes these coins:
“The corners allow you to support creators who tweet content.»
Along with this, Jane Manchun Wong reveals that Twitter trophies are also planned, hasto reward the most impactful publications. If the template looks familiar, it’s apparently modeled after what already exists on Reddit discussion boards. The latter has indeed launched its own “Coins” and trophies in recent years.
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A system that will not be based on the blockchain?
Coin purchases will likely be available through payment service provider Stripe. According to several people who investigated this future feature, the “Twitter Coin” will apparently not be a cryptocurrency, but an internal payment system like the corners of Reddit.
It seems to be an in-app currency to support the creators. I didn’t find anything that relates it to *crypto* currency.
—Nima Owji (@nima_owji) January 10, 2023
This is notable, because since Elon Musk expressed his interest in Twitter, he has repeatedly suggested that integrating a real cryptocurrency – like his favorite Dogecoin (DOGE) – might be possible. . But the controversial billionaire seems to have moved away from this idea.
For the moment ? We had of course noted the tests of Reddit, which had offered two cryptocurrencies to its users, in parallel with the “Coins”. Twitter could therefore continue to think about the blockchain. We remember that Elon Musk briefly mentioned the idea to monetize the publication of tweets. Although leaked messages had revealed that he now considered none to be scalable enough to support the entirety of Twitter.
All this shows in any case the trial and error of Twitter to find an economic model that works. We remember the debacle surrounding the new profile verification system, as well as the ideas thrown pell-mell by Elon Musk. He also confirmed that he will step down as CEO… Possibly.
👉 On the same subject – “Should I resign as the head of Twitter? “: Elon Musk launches a poll
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Source: Jane Manchun Wong via Twitter
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Journalist at Cryptoast, I fell into the pot of cryptocurrencies a few years ago. I am passionate about the innovative technologies that stem from the blockchain and I like to find the most crispy information to share with you.
Marine Debelloir
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