This Is How Elon Musk’s Twitter Takeover Will Affect Crypto

Glorious Friday, everyone. It's BitDegree Insider here, and it's time to take a walk in the web3 park.

Today we're talking about:

• Elon Musk, Twitter, Crypto
• Twitter To Allow Buying and Selling NFTs Through Tweets
• Google Introduces Blockchain Node Engine
• Selected Meme of The Day
• Bite-Sized News

Elon Musk, Twitter, Crypto

Do you hear it? The internet's buzzing. Elon Musk has completed his $44bn Twitter takeover. And he made sure to make an entrance: 'Let that sink in', he tweeted.

And once the sink was let into the Twitter HQ... New bombshells started appearing in the headlines:"Elon Musk fires top executives", the news broke out. These execs were Twitter CEO Parag Agrawal, the CFO Ned Segal, and the head of legal policy, trust and safety, Vijaya Gadde.

The finale of the battle for Twitter was summarized in the following tweet. And seeing over 1M heart-reacts on it, you can sense that people have picked a side.

Musk's Twitter bio now says 'Chief Twit'. The system has changed, and we're sure to see social media with 396.5 million global users to take a new direction.

Of course, the impact of such news is wider than that. People representing all types of industries started congratulating Elon.

One of them was Michael Saylor, one of the loudest Bitcoin ambassadors and maximalists.

Elon Musk's Tesla holds Bitcoin, and Twitter, in itself, is the crypto social media. Every project, every opinion, every debate takes places there.

Elon Musk has ample plans for Twitter's future. Solving the spam bot problem is among the priorities. If he succeeds, it will be a huge win for crypto.

It would mean less scams, less lies, less misinformation, and more genuine connections, feedback, and constructive dialogues.

In addition, Twitter could introduce crypto payments and other blockchain products, which will positively impact their overall adoption.

They have already started developing a prototype crypto wallet (that we wrote about). And that's not all. Continue reading for ever further Twitter-related updates.

TL;DR: World's #1 richest man finally completes his Twitter takeover. Fires top execs immediately.

Twitter To Allow Buying/Selling NFTs Through Tweets

It's been reported that Twitter is about to allow users to display NFT listings from certain platforms. And to introduce a button that would make selling or buying them easy.

This update will be called NFT Tweet Tiles. Its function is simple: to display NFTs in a specially-designed panel within a tweet.

This update is developed in partnership with four NFT marketplaces: Rarible, Magic Eden, Dapper Labs, and Jump.trade.

These four companies don't operate on a single blockchain. When put together, they cover Ethereum, Solana, Flow, Polygon, Tezos, and Immutable X. This is big news. It means more interoperability, more attention towards scalability, and security issues that occur whenever inter-blockchain operations take place.

TL;DR: Twitter to introduce new function called "NFT Tweet Tiles". It will allow people to sell and buy NFTs through tweets.

Google Introduces Blockchain Node Engine

Okay, believe it or not, but it's not only Twitter that made it into news today.

'Introducing Blockchain Node Engine: fully managed node-hosting for Web3 development', announces Google on their website.

Let's define it word by word.

Blockchains contain encrypted transaction data. They're like a decentralised public ledger, or a database.

Nodes are the governing structure of blockchains. They validate and store data into the blockchain. Nodes can be a computer, a server, or similar device.

Each node contains full story of transaction history of the blockchain, therefore it's decentralised.

Together nodes form the blockchain, the peer-to-peer network. Okay, that's the basics. So what's the big update?

Nodes require constant maintenance, and management. Web3 companies that depend on flawlessly-running nodes, spend a lot of resources on ensuring their state.

Google's Blockchain Node Engine is a service that offers to take on this responsibility.

It's a node-hosting service that will offer to off-shore these costs for companies, and simply provide the required amount of well-maintained nodes for developers.

'Ethereum will be the first blockchain supported by Blockchain Node Engine, enabling developers to provision fully managed Ethereum nodes with secure blockchain access,' states the announcement.TL;DR: Google presents new service for hosting nodes that form and run blockchains.

Selected Meme of The Day

Bite-Sized News

• Binance CEO Reveals Kazakhstan's Plans to Test Its CBDC on BNB Chain. CZ is the real 'Mr. Worldwide'. Wherever action takes places, CZ follows.
• Twitter Crypto Wallet Rumors Make Dogecoin Price Surge by 40%. The heated relationship between the memecoin and Elon Musk-related moves remains tumultuous.
• US Trustee Objects Celsius $3M Employee Retention Bonus. Winter's coming, we're embracing ourselves to see less degrees of Celsius. It doesn't apply to Celsius Network though.