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Mark Cuban proposes utilizing Dogecoin to resolve Twitter’s crypto advert drawback

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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 may probably catch this sort of content material?” requested Andreessen. To which Tesla’s CEO Elon Musk replied, “Humans,” sparking a dialogue on greatest curate the excessive variety of cryptocurrency scams and spam adverts on the platform.

But, it was billionaire investor Mark Cuban who then urged a relatively unconventional resolution. As advised by Cuban, the issue may be solved by first including an “Optimistic Rollup,” or layer-2 resolution, to Dogecoin (DOGE). 

To put up on Twitter on a vast 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 put up and people affirm that it’s spam, those that flagged the put up 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, nonetheless, the put up 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. Though, customers had been fast to level 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. Nevertheless, Shibetoshi Nakamoto, creator of Dogecoin, praised such a system: 

Related: Dogecoin Jesus? Roger Ver resurfaces on Twitter, backs DOGE over BTC

Last week, Elon Musk tendered his supply to buy Twitter for $44 billion. As advised by Musk, one in every of his high priorities for the platform consists of slicing down the variety of cryptocurrency rip-off tweets.