This Tuesday, January 10, some images were spread on the Internet about “Twitter Coins”, a new application developed by the social network that could be linked to cryptocurrencies or blockchain technology.
The cryptocurrency community believes that Elon Musk is making plans to release a new crypto asset, which they call Twitter Coin and which many associates with Dogecoin. It all came about with a tweet posted by blogger Jane Manchun Wong, which gained attention for an image believed to be the logo of the native currency of the micro-messaging network.
Twitter is working on Coins purchasing screen
On the web, Twitter Coins purchase will be done through Stripe https://t.co/RFpWswnZfG pic.twitter.com/eAzPWjfoye
— Jane Manchun Wong (@wongmjane) January 10, 2023
Neither the company, nor Elon Musk has reported anything about it officially, but the leaked image of what could be the Twitter Coin is giving the cryptocurrency community.
According to tech bloggers Jane Manchun Wong and Nima Owji, Twitter is developing Twitter Coins in partnership with payment processor Stripe.
For now, the images about Twitter Coins do not mention further details about this project.
“It seems to be an in-app currency to reward creators, but I haven’t found anything related to cryptocurrencies,” said Nima Owji.
An in-app feature tracks by date impressions, clicks, and conversions to analyze the success of a campaign.
#Twitter keeps working on Twitter Coins!
They've added an item named "Coins" to the navbar menu. https://t.co/v6ZWTdlMVY pic.twitter.com/ytvvz17nfp
— Nima Owji (@nima_owji) January 10, 2023
What images were disseminated?
One of the images disseminated on the Internet is a screenshot of the supposed Twitter Coins purchase page, where it indicates how it will work.
“These coins will support creators who tweet good content, and what they don’t use will be saved in their balance,” Owji commented.
On the other hand, Jane Manchun Wong indicated that Twitter Coins will also allow sending rewards called “Mind Blown,” “Bravo” and “Super Like” to content creators on the social network.
This feature could be similar to Reddit’s tipping and reward system, in which users use “Reddit Coins” to send rewards to others who post a comment or broadcast a live video.
Here’s the list of Twitter Awards: https://t.co/PpgHebBWD6 pic.twitter.com/BePDVAkzhy
— Jane Manchun Wong (@wongmjane) January 5, 2023
Twitter Coins won’t involve cryptocurrencies
Tech blogger Jane Manchun Wong reported that the purchase of Twitter Coins by users will not involve cryptocurrencies in the first phase.
According to Wong, the purchase of Twitter Coins will be done through fiat payments on Stripe.
Stripe allows merchants to make payments via credit and debit cards, bank transfers, and cash vouchers.
In April 2022 Stripe reported that it was lending its platform to content creators on Twitter to collect their rewards in USD Coin. Payments would be through the Polygon network.
Comments that Elon Musk should soon eliminate Dogecoin, startled the community that revolves around this cryptocurrency, who claim that the rich person will not integrate a new cryptocurrency on Twitter.
Elon is not going to pull out a twitter coin. He is just preparing the most efficient internal dogecoin transfer system in twitter. As with the dollars in paypal.
— God of Engineering (@fraggelcurris) December 6, 2022
Meanwhile, other individuals of the network agree with that a brand with the social community’s characteristic little chicken is most effective signal that each one the cryptocurrencies used to date on its platform will be included there.
Last yr Twitter enabled a function to send and get hold of btc international with the aid of integrating with the Strike application.
Later, it added the second biggest marketplace cap cryptocurrency, ether. However, some bitcoiners claim that no one used Twitter to send pointers with BTC, which is why this option could be disabled from the platform.
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