Cardano founder Charles Hoskinson proposes decentralized IDs to secure X from hacks

Charles Hoskinson, the founder of the Cardano blockchain, has offered to integrate decentralized identities into X, the social media platform formerly known as Twitter. He described it as a solution to the problem of compromised accounts on the platform.

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The offer comes in light of recurring hacks of X accounts by bad actors, who post phishing links and attempt to scam victims. According to Hoskinson, who directed his offer at Elon Musk, he is willing to do it free of charge in order to improve the platform.

Blockchain-agnostic identity solution for X

Hoskinson clarified that the proposed decentralized identities system is not tied to any specific blockchain and can be integrated directly into the X technology stack. According to him, the solution is a hyperledger project that issues and manages decentralized identities, anonymous credentials, and other crucial features.

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With X planning to become a money service business, Hoskinson believes that fixing its identity problems is crucial for success. He touts his proposed decentralized identity as the ultimate solution, noting that it would improve the platform. He said:

“I’m happy to integrate this into their stack so they can use it to enhance security, improve access control, remove bots, and have a better compliance system. The core idea is getting the framework embedded and then having the X team manage the infrastructure themselves.”

The offer has attracted multiple comments, especially from the Cardano community, with many speculating on a partnership between the Cardano blockchain and the social media platform. However, Hoskinson noted that this is not an attempt to promote any blockchain and considers X an essential public infrastructure.

ADA endures its highest level of bearishness

Meanwhile, Cardano’s ADA is suffering from significant bearish sentiment, according to the latest report from analytics firm Santiment. The firm identified ADA as the token with the most bearish outlook, noting that traders have “completely written off” the token.

Santiment attributes the poor outlook to ADA’s failure to record any major rise in price over the past few months, as the token is down 43% in the last four months. However, it has seen better performance in recent weeks, gaining 16% in the past seven days and 11% in 30 days. This is likely linked to the general market performance rather than Cardano’s fundamentals.

Despite the seemingly bearish sentiment, Cardano is expected to have a major technical upgrade, the Chang hard fork, later this month. The hard fork will introduce full decentralization to the network, and Hoskinson has described it as the most significant upgrade in Cardano’s history.