Billionaire Mark Cuban outlined a plan to combat spam and fraud on Twitter using Dogecoin (DOGE). The idea was supported by Billy Markus, co-founder of the meme cryptocurrency.
i like it
i like it a lot
— Shibetoshi Nakamoto (@BillyM2k) May 1, 2022
On May 1, Marc Andreessen published a screenshot showing a user impersonating him offering a fake cryptocurrency giveaway. The co-founder of venture-capital firm Andreessen Horowitz asked which algorithm could track such content.
‘Humans,’ wrote Elon Musk.
Humans
— Elon Musk (@elonmusk) May 1, 2022
As a solution, Cuban proposed adding a feature obliging every user to stake 1 DOGE to publish tweets.
Anyone would be able to flag messages as spam — if the complaint is confirmed, the authors of the complaints would share the violator’s stake.
To publish new tweets, the spammer would have to stake 100 DOGE. If the complaint is not upheld, the author would lose their 1 DOGE.
In late April, Twitter’s leadership agreed to sell the social network to Elon Musk for $44 billion. The deal is expected to close by the end of 2022. Musk wants to create an ‘inclusive arena for freedom of speech’.
The move was supported by Twitter founder Jack Dorsey, Brian Armstrong and Vitalik Buterin.
Earlier, Musk proposed reducing the price of Twitter Blue and to pay for the premium service in Dogecoin.
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