Twitter is working on its own Crypto Wallet prototype
Software engineer Jane Manchun Wong, known to her reports on tech features to be launched, claimed that Twitter would implement its own crypto wallet. Currently, the project is under development, and the team behind the feature is still working on a prototype.
According to Manchun Wong, the crypto wallet will enable users to deposit and withdraw their money without relying on third-party services. At the time of writing, there is no official announcement or statement from the company, only unofficial reports.
Twitter is working on a ‘wallet prototype’ that supports ‘crypto deposits and withdrawals’
— Jane Manchun Wong (@wongmjane) 24 October 2022
Twitter’s Crypto Wallet Prototype Only The Beginning?
The Jack Dorsey-founded social media has been one of the most crypto-friendly platforms, along with Instagram and Reddit. Under Dorsey’s leadership, the company launched several features that allow users to link their crypto wallets to their profiles.
However, this feature requires users to create and manage their own wallets and addresses. The feature was originally compatible with Bitcoin. Later, Twitter extended the feature to Ethereum addresses and non-fungible tokens (NFT).
Until now, there were no reports of a native Twitter crypto wallet. If implemented, the process of sending and receiving tips and using the NFT profile picture feature could be much easier for users. They don’t need to connect or manage an external wallet.
The social media platform continues to improve its crypto features following the change in management. Company founder Jack Dorsey left his role by appointing Parag Agrawal as CEO.
In addition to a crypto wallet function, there is a separate department called “Bluesky.” The team behind this project is working on a solution for social media as a “social protocol.” In that way, these platforms will be able to operate beyond the structure of a traditional company. They will adopt the values similar to Bitcoin and cryptocurrencies for transparency and decentralization.
In that sense, the protocol can give more power to social media users, allowing them to choose the services they want to operate with, control the algorithms that run them, and even their performance.
What is a “federated” network? It’s a way for servers to communicate with each other – like email. Instead of one site running the network, you can have many sites. Users can choose a provider, and individuals and companies can host themselves if they want.
— bluesky (@bluesky) 18 October 2022
Although Twitter and Bluesky operate as separate entities, they were both founded by Dorsey to take social media into the future, to a period where crypto wallets may become the new normal in terms of social protocols.
