Charles Hoskinson intends to incorporate ADA and the famous meme token Dogecoin into Elon Musk’s Twitter (DOGE). Now that Musk has completed his $44 billion acquisition of Twitter, Cardano’s creator is certain that the social media network will soon incorporate DOGE, as Musk has often hinted.
Elon Musk is now Twitter’s “Chief Twit,” indicating that the microblogging platform would undergo significant changes, all of which seem beneficial to cryptocurrencies, notably Dogecoin.
According to Charles Hoskinson, CEO of IOG (previously IOHK), there is a “real potential” that the top meme currency DOGE may “merge in some way” with Twitter.
Musk’s acquisition of Twitter sparked rumours that he will decentralize the site and accept Dogecoin (his preferred cryptocurrency) as payment for services like as Twitter’s Blue membership.
The DOGE price increased by more than 80 percent earlier this week when it became public that Elon Musk had acquired Twitter. DOGE was the eighth-largest cryptocurrency as of press time, with a market worth of $15.1 billion and a price of around $0.11.
When asked if he believes Dogecoin would move to proof-of-stake (PoS) or the proof-of-useful-work (PoUW) consensus algorithm given that it is likely to be integrated into Twitter, Hoskinson recommended that the dog-themed cryptocurrency become a Cardano sidechain. The founder of Cardano said that he was prepared to do the migration for free and would even include smart contracts.
Also Read: Elon Musk’s Twitter takeover boosts Dogecoin
