Manchun Wong claims that the Twitter crypto wallet will eliminate the need for intermediaries when making deposits and withdrawals. There has been no official word from the corporation as of this writing; just rumors have circulated.
Could Twitter’s Crypto Wallet Prototype Be the Start of Something Bigger?
One of the most crypto-friendly networks, alongside Instagram and Reddit, was launched by Jack Dorsey. Dorsey oversaw the implementation of many profile enhancements that allowed users connect their cryptocurrency wallets.
To use this function, users need to set up and maintain their digital wallets and addresses. Initially, the option could be used using Bitcoin. Twitter initially only supported Bitcoin and Litecoin addresses, but eventually added support for Ethereum addresses and NFTs.
No rumors of a built-in Twitter cryptocurrency wallet existed prior to this. If implemented, the NFT profile image function and tipping would be considerably simpler for users. They won’t have to deal with adding or managing a third-party wallet.
Since its management transition, the social media site has been hard at work enhancing its crypto capabilities. With Jack Dorsey’s departure, CEO Parag Agrawal was appointed.
There is also a “Bluesky” division, in addition to a crypto wallet option. The team driving this initiative is developing a “social protocol” to address issues with social media. It will allow these platforms to function independently of the typical corporate framework. Values of openness and decentralization, as espoused by Bitcoin and other cryptos, will be adopted.
As a result, the protocol might give users greater control over the services they use, the algorithms they employ, and even how well those services function.
Dorsey built both Twitter and Bluesky to advance social media into the future, a time when cryptocurrency wallets may become the norm in the form of standard social protocols.