[ad_1]
On Sunday, American entrepreneur Marc Andreessen posted a screenshot of what seems to be a Twitter person impersonating his identify to advertise a “free crypto” giveaway. “What algorithm might probably catch this sort of content material?” requested Andreessen. To which Tesla’s CEO Elon Musk replied, “people,” sparking a dialogue on methods to greatest curate the excessive variety of cryptocurrency scams and spam adverts on the platform.
However, it was billionaire investor Mark Cuban who then advised a slightly unconventional answer. As instructed by Cuban, the issue might be solved by first including an “Optimistic Rollup,” or layer-2 answer, to Dogecoin (DOGE).
To submit on Twitter on an infinite foundation, everybody would wish to place up one DOGE ($0.13 per coin on the time of writing) as collateral. Then, if anybody contests a submit and people affirm that it’s spam, those that flagged the submit would obtain and share the spammer’s DOGE. Consequently, spammers would then have to put up 100 DOGE as collateral for the proper to create additional posts. If, nevertheless, the submit seems to not be spam, the contesters would lose their DOGE.
In different phrases, it’s a prediction system that creates financial penalties, albeit minor, to discourage spamming. Although, customers had been fast to point out the chance that scammers could also be well-funded and will merely “out-contest” posts marked as spam in such a pay-to-win system. Nonetheless, Shibetoshi Nakamoto, creator of Dogecoin, praised such a system:
i prefer it
i prefer it rather a lot
— Shibetoshi Nakamoto (@BillyM2k) May 1, 2022
Associated: Dogecoin Jesus? Roger Ver resurfaces on Twitter, backs DOGE over BTC
Final week, Elon Musk tendered his offer to purchase Twitter for $44 billion. As instructed by Musk, one in every of his prime priorities for the platform consists of decreasing the number of cryptocurrency scam tweets.
[ad_2]
Source link