Co-Founder and CEO of Input Output Global (IOG) Charles Hoskinson believes that Dogecoin should be integrated as a Cardano sidechain, following Elon Musk’s acquisition of Twitter.
Dogecoin Should Be a Cardano Sidechain
On Friday, October 28th, Charles Hoskinson opined that DOGE could be integrated into Twitter, following Elon Musk’s takeover. When the Cardano Founder was asked whether he believed Dogecoin (DOGE) should convert into a Proof of Stake (PoS) or Proof of Useful Work (PoUW) network (an alternative model of Proof of Work), Hoskinson gave a somewhat surprising reply, stating that the meme coin should instead become a sidechain of Cardano, tweeting:
Should be a cardano sidechain. I'd do the migration for free. Hell I'd even add smart contracts— Charles Hoskinson (@IOHK_Charles) October 28, 2022
Hoskinson opened a Twitter poll soon after, asking the crypto community if Cardano should indeed build a Doge sidechain. With five days left on the poll at the time of writing, more than 80% of the 21,600+ respondents have voted in support of Dogecoin becoming a Cardano sidechain.
This is not the first time Hoskinson has broached the idea of adding other blockchains to Cardano as sidechains. In a recent live stream, the IOG CEO suggested that the future of Cardano is to become a network of blockchains with several connected sidechains.
Dogecoin Could Merge with Twitter
The Cardano Co-Founder believes that, in light of self-proclaimed “Dogefather” Elon Musk completing his takeover of Twitter, there is “a real possibility that doge will somehow merge with the platform.”
Musk has previously expressed the idea of Dogecoin becoming a part of Twitter, but has yet to outline a concrete use case. Nonetheless, there has been speculation that DOGE could be used on Twitter as a payment method for tweet fees to serve as an authenticator for human users, among other things.
On the Flipside
- The price of DOGE has shot up by more than 105% in the last seven days, overtaking Cardano (ADA) as the sixth-largest crypto by market cap.
The seven day price chart for Dogecoin (DOGE). Source: CoinMarketCap
Why You Should Care
Elon Musk is one of the biggest proponents of Dogecoin, and the integration of DOGE into Twitter would represent a big win for the meme coin, and the crypto industry at large.
Read more about Musk’s Twitter takeover below:
Elon Musk’s Takeover of Twitter and His Relationship with Cryptocurrencies
Find out how DOGE reacted to the news:
Dogecoin (DOGE) Catapults 32% As Elon Musk Enters Twitter Headquarters