What the new Twitter verification process for web means3

What the new Twitter verification process for web means3

crypto twitter could become more expensive in the hands of Elon Musk

Since the takeover of Twitter, Elon Musk has been busy.

his first task: dismissal of several top executives and deletion of the entire Twitter board.

Musks Next step, er "overworked" Verification process that drives the praised blue controls of the social media platform.

For the first time in the history of Twitter, Musk plans to calculate users for the maintenance of the Häkchen by marking Twitter Blue, the company's. to the edge.

The blue checker is not necessarily synonymous with credibility-especially when it comes to the crypto communities of the social network in which there are fraudsters that pay for verified accounts.

At the beginning of the year, Twitter introduced a function for Twitter Blue subscribers, which enabled them to connect ether-based wallets and to display NFTs as profile images.

For industry participants, this was the first sign of a potential broader advance into digital assets, which would not rely too much on the Bitcoin Maximalist roots of the founder Jack Dorsey.

"With the takeover of Twitter by Elon, we will probably see a broader acceptance of a number of cryptocurrencies within the platform - it will not only be a platform dominated by Bitcoin," said Stefan Rust, CEO of Laguna Labs, to block works.

For his NFT support, Twitter planned to check property with the help of OpenSea and other NFT marketplaces of third-party providers. The number of blue ticks shot up and hexagonal NFTs became the new status symbol when it comes to digital assets.

Mixed results for the NFT support, Twitter's first crypto advance

However, the security mechanisms did not prevent people from using the NFT image files of others to predominate, re-shape and verify.

"Blue Hunk means nothing more" Research director at Proof Collective, which calls itself punk9059. He considers the new "Pay-Forification switch" from Twitter to be "not good", but admits that "the condition of the blue checks in NFTS is a chaos" due to the number of fraudsters, bots and fake influencers with verified accounts.

Twitter has not yet published any further details about the verification process.

other Twitter users Be a graded verification system that contains elements of the game to distinguish between bots, companies and individuals. Or that a Twitter-token could also be in the works, Crypto wallet is part of the company's plans.

"We will probably see more payment options on Twitter next to Lightning, which will be really good for the industry," said Rust.

Binance founder Changpeng Zhao, also known as CZ, on Monday confirmed his plan to "help to bring Twitter in web3 if they are ready". CZ contributed $ 500 million to Musk Twitter Leveraged Buyout-another indicator of the growing relationship between the social network and digital assets.


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The contribution What the New Twitter Verification Process Means for Web3 is not a financial advice.

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