Here's Why The Founder Of Cardano Is Looking To Build A Decentralized Twitter With Elon Musk

In the latest development in Tesla Inc (NASDAQ: TSLA) CEO Elon Musk’s Twitter Inc (NYSE: TWTR) bid saga, Cardano (CRYPTO: ADA) founder Charles Hoskinson has told Musk that he’s willing to help him build a decentralized version of Twitter.  

In a recent Tweet, Hoskinson said that he is willing to make a dispersed social media platform along with Musk if his decision to take over Twitter fails.

@elonmusk Elon if Twitter rejects your offer, then hit me up. Happy to build a decentralized one

— Charles Hoskinson (@IOHK_Charles) April 14, 2022

Following Hoskinson’s tweet, Twitter’s crypto community started talking about it. 

Also Read: Elon Musk's First Official Tweet Came Before Twitter And Tesla IPOs: Here's What The Tesla CEO Said

Can't wait for the university research papers on how great of a product you will build in 5 years

— Devchart (@devchart) April 14, 2022

Another user stated that if it’s anything similar to what Hoskinson has built before, it won’t scale.

It will only be able to send 10 messages a minute and take 5 years to build.

— BakingBenjamins.tez (@BakingBenjamins) April 14, 2022

On Thursday, Musk presented a $43 billion offer to assume full control of Twitter, with the intent of taking the company private. The non-binding proposal came after the Tesla CEO took a 9.2% stake in the social media giant.

Musk’s offer has gathered both positive and negative reactions from the social media firm’s shareholders. 

One key shareholder of Twitter, Saudi Prince Alwaleed bin Talal Al Saud has rejected Musk’s offer. 

I don't believe that the proposed offer by @elonmusk ($54.20) comes close to the intrinsic value of @Twitter given its growth prospects.

Being one of the largest & long-term shareholders of Twitter, @Kingdom_KHC & I reject this offer.https://t.co/Jty05oJUTk pic.twitter.com/XpNHUAL6UX

— الوليد بن طلال (@Alwaleed_Talal) April 14, 2022

Also Read: Elon Musk's Twitter 'Soap Opera' Will End In A Takeover: Dan Ives