Cardano Founder Charles Hoskinson Invites Dogecoin to Migrate to Cardano Blockchain
Now that the Twitter deal by Elon Musk has become a reality, all the skeptics have turned into believers about the upcoming changes. The Twitter acquisition has brought a lot of attention to one coin, in particular, namely Dogecoin, which has been promoted by the Tesla CEO on several occasions.
To this end, Cardano CEO and founder Charles Hoskinson have recently extended an invitation to Dogecoin to migrate to the Cardano blockchain free of charge.
Before making the announcement, the founder and CEO of Cardano blockchain interacted with SpaceX CEO on the matter. He asked the million-dollar question that everyone has been speculating thus far about Dogecoin’s role in the transformation of Twitter shortly.
Posing a question, Hoskinson wrote that now that the Twitter deal is complete, he sees that the chances of Dogecoin merging with Twitter have increased.
Charles Hoskinson Proposes Plans for Dogecoin
It seems that Cardano blockchain CEO Charles Hoskinson has big plans for Dogecoin. He recently claimed that Dogecoin should become the sidechain of Cardano and also offered to make the migration process free of cost. He also talked about creating specified smart contracts for the process.
Cardano founder and former Ethereum alumni posed a question about whether Dogecoin will consider shifting to a proof-of-stake network for its Twitter merger.
The main reason for the current limelight on Dogecoin is that Elon Musk has been the main force behind promoting the meme currency. On the other hand, he is also the main investor that has been attributed to the Twitter acquisition with 9.6 percent shares of the social media platform.
There are several rumors that Twitter is going to become more decentralized and introduce cryptocurrency features. However, thus far, all these ideas are mere speculation, and no official announcements have been made by the Neuralink co-founder.
At present, Twitter is one of the most used platforms in the world, with an emphasis on political influencers and social movements such as BLM and Metoo. Jane Manchun, the tech blogger, has recently shared the news that purports that Twitter is working on a cryptocurrency wallet prototype that can be used for digital currency-related transactions.
Meanwhile, the immediate after-effect of the Twitter takeover by Elon Musk has resulted in a visible rally for Dogecoin. The meme currency has gained around 44.3% traction in the last week. The unit price of Dogecoin has increased to $0.0856 after the latest boom period. However, this rally is based on the speculation that Dogecoin will be merged with Twitter. With the latest trading volume inflow, the market cap of Dogecoin has reached $3.8 billion.
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