APPLICATION

Twitter assembles a crypto team to integrate and develop crypto projects, with the primary goal of creating a DApp supporting the creator economy model.

share
Twitter assembles a crypto team to integrate and develop crypto projects, with the primary goal of creating a DApp supporting the creator economy model.

Twitter is assembling a new crypto team called "Twitter Crypto," with plans to integrate technologies such as decentralization, blockchain, and cryptocurrency into the social platform. Tess Rinearson, who previously served as the Deputy Director of Engineering at Interchain Foundation ICF, the developer behind the cross-chain project Cosmos, will lead the team.

Twitter's Numerous Crypto Initiatives

Twitter and Square currently have a multitude of blockchain-related development projects, including:

  • NFT profile verification
  • Bitcoin hardware wallet
  • Bitcoin tipping feature
  • Bitcoin DeFi platform
  • Open-source Bitcoin mining system by Square
  • Shift towards decentralization - "Bluesky project"

As of now, Twitter has implemented the Bitcoin tipping feature based on the Lightning Network, while the rest are still in the development phase. The arrival of "Twitter Crypto" will further integrate the above development projects, transitioning Twitter to Web 3.0 applications.

Former Cosmos Executive Joins

Tess Rinearson, who previously served as Vice President of Engineering at the cross-chain project Cosmos, will lead "Twitter Crypto." She mentioned that apart from Bitcoin tips and NFTs, there are still many applications to explore, with the primary focus being on DApps development:

We will first focus on the growing creator economy, managing virtual goods and cryptocurrencies through DApps to support their work and creator community. We will then explore the idea of crypto communities, strengthening Twitter's potential for digital identity and ownership.

Lastly, Rinearson also referenced Twitter's long-standing decentralized social platform project, Bluesky. A former Zcash core developer joined Bluesky as the lead in August, and Rinearson mentioned that "Twitter Crypto" will collaborate with the Bluesky project to shape the future of decentralized community media.

As mentioned earlier, Twitter has several crypto-related projects in hand with unclear progress, and "Twitter Crypto" demonstrates Twitter's decision to prioritize building a creator economic model through DApps. At the time of writing, Twitter founder Jack Dorsey, Twitter, and Square have not commented on this.