Elon Musk’s acquisition of Twitter’s ‘X’ deal with sparks widespread decentralization dialogue

Elon Musk has reportedly assumed management of the @X account on Twitter with out remunerating the unique consumer who held this username for over 16 years. The transfer has sparked a considerable wave of criticism, predominantly from the crypto neighborhood.

The Unbiased reported that Gene X. Hwang, co-founder of photograph agency Orange Images, had the account for over a decade till Twitter’s surprising rebranding introduced it into the limelight.

On Tuesday, Hwang confirmed that neither Musk nor Twitter had made contact with him, however by Wednesday, the account was evidently below the management of the tech billionaire. Hwang made a short assertion from his new account, @x12345678998765, posting, “All’s nicely that ends nicely.”

In line with The Telegraph, no financial trade occurred between Musk or Twitter and Hwang for the one-letter account. Some firm merchandise was, nevertheless, reportedly provided. The Unbiased has reached out to Twitter for added info relating to the matter.

Curiously, this isn’t the primary incident of this nature involving Musk. After assuming management of Twitter in October 2022, he has reportedly commandeered different accounts with out searching for permission from their unique house owners.

One such occasion entails the @e username, in line with Zoe Schiffer, editor at Platformer. Shortly after buying Twitter for $44 billion, Musk took over the account, regardless of the reluctance of the unique proprietor to relinquish it.

Elon Musk’s acquisition of the @X deal with has highlighted the necessity for decentralized options and has incited energetic discussions inside the crypto neighborhood concerning the potential downsides of centralization.

Because the discourse evolves, these decentralized options to conventional social media platforms might acquire extra traction and supply a counterpoint to centralized platforms’ management.

Lens Protocol, a Web3 social community on Polygon, and Ethereum Identify Service (ENS), an Ethereum-based naming system, have been closely referenced all through the dialogue, with many mentioning the potential for elevated adoption of such platforms.

Such platforms permit the self-custody of accounts, offering safety to house owners in opposition to centralized management. In distinction, Twitter, a non-public firm, has little duty to its customers with regard to account possession.

The put up Elon Musk’s acquisition of Twitter’s ‘X’ deal with sparks widespread decentralization dialogue appeared first on CryptoSlate.

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