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Vitalik Buterin Is Concerned About Elon Musk's New Idea

Wed, 11/02/2022 - 07:55
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Arman Shirinyan
Not everyone is completely happy with Elon Musk's changes
Vitalik Buterin Is Concerned About Elon Musk's New Idea
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After finalizing the Twitter deal, Elon Musk almost immediately started to actively manage the social media platform. First, he laid off more than half of the company's staff and took full management control by dismissing the board. Additionally, Musk is ready to implement the new verification system, which already faced some criticism

Vitalik Buterin has some serious concerns

According to Musk, the new system will allow anyone to pay $8 per month and "call yourself whatever." The new system will become a new way of verifying users and fighting bots and spammers on the network. Currently, the blue check is only available to a small percentage of users determined by Twitter itself.

While the new system might become an effective way of combating a high number bots on the network, there might be a problem as it will damage the blue check's anti-scam role, says Buterin. However, if there will be an additional verification method, the result will be "very different."

After providing some criticism, Vitalik defended the new system by saying that there is no problem with charging $8 per month, and it will not create an economic hierarchy since the current blue check system is far more exclusive than even a $20 month payment. However, the Ethereum creator believes that verification should be charged at-cost and separate from other premium services.

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As stated by Musk previously, the new system will bring more benefits to verified users like priority in replies, mentions and search, which will be one of the most effective ways to defeat spam and scam. Another addition to "premium" accounts will be the ability to post long videos and audio.

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About the author

Arman Shirinyan is a trader, crypto enthusiast and SMM expert with more than four years of experience.

Arman strongly believes that cryptocurrencies and the blockchain will be of constant use in the future. Currently, he focuses on news, articles with deep analysis of crypto projects and technical analysis of cryptocurrency trading pairs.

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