A number of amateur technical investigators have deduced that Twitter is developing its own cryptocurrency coin. The cryptocurrency has been given the name Twitter Coin, and there is speculation on the blockchain that it may displace Dogecoin as Twitter’s official currency.
Jane Manchun Wong, a security researcher, was the first to call attention to the new coin. She took a string of characters from the most recent version of the Twitter online app, which included a vector graphic of the “Twitter Coin.” She uploaded both the photograph and a screenshot of the Coins section of Twitter’s Tips function to her account. Wong did clarify that the Twitter Coin emblem may not be a native asset but rather a visual representation of the platform’s crypto-tipping feature.
However, not long after that, Wong’s social media accounts were deactivated. Some Twitter users claimed she had been banned for what she posted, adding fuel to the fire around Twitter Coin.
Nima Owji, who maintains a Twitter account dedicated to leaking information about apps, recently shared a screenshot of what appears to be a prototype Twitter interface with a “Coins” option for tipping, as well as a vector image of a coin containing Twitter’s logo.
Suspension of DOGE Accounts
The community’s suspicions have been further fueled by other Twitter instances. A number of DOGE-related accounts, for example, were banned from the network on December 3rd, as noted by Dogecoin CEO Billy Markus.
On Twitter, he wrote,
As far as I can tell, many accounts of people who rarely post anything other than positive memes and inspirational quotes are being locked down.
In response to the tweet, Elon Musk said he would check into it. Almost immediately, he responded to her tweet with the news that the accounts had been restored. He said the Twitter team was purging fake or automated accounts at the time, which led to the blunder.
Does This Pose A Threat To DOGE?
Some Twitter users and proponents of DOGE are holding out hope that this is an indication that the site recognizes DOGE as Twitter’s official currency and that Twitter Coin is merely another name for DOGE. It’s possible that DOGE and perhaps BTC will face competition from Twitter Coin if it develops into a full-fledged cryptocurrency in its own right. Elon Musk’s public support of DOGE has been invaluable. The memecoin’s success is in large part due to Twitter and Musk’s promotion of it, so its dethroning by another crypto may be devastating.
