Not Dogecoin, but Kaspa is What Elon Musk Needs for X Payments

With X (formerly Twitter) planning to enable peer-to-peer payments in 2024, crypto analysts have speculated on which blockchain projects are technically suited to power micropayments on the platform.

According to crypto analyst Jim Si ₿um, the innovative cryptocurrency Kaspa (KAS) has attributes that make it a promising choice. In a tweet, he stated:

“$KAS is exactly what @elonmusk has been waiting for the whole time—for payments on @X. It’s a proof-of-work, like $Doge, but running at 10 blocks per second…”

So what makes Kaspa well-suited for payments on X? As a proof-of-work cryptocurrency like Dogecoin, it offers the security of mining-based consensus. But unlike Dogecoin, Kaspa uses an innovative BlockDAG protocol to achieve speeds of up to 10 blocks per second, making payments instantaneous.

Kaspa’s architecture is designed to scale on-chain transaction capacity as internet speeds improve over time. This “future-proof” capability will allow it to handle a high volume of micropayments between X’s millions of daily active users.

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By leveraging Kaspa or a similar high-performance blockchain optimized for micropayments, X may be able to offer users instant, inexpensive cryptocurrency transactions with minimal impact on the platform’s environmentally friendly operations.

Of course, this remains speculative. But if Elon Musk wishes to realize his vision for a cryptocurrency-powered social media platform, integrating cutting-edge payment-focused blockchains could be the way to get there.

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Rene Peters
Rene Peters

Rene Peters is editor-in-chief of CaptainAltcoin and is responsible for editorial planning and business development. After his training as an accountant, he studied diplomacy and economics and held various positions in one of the management consultancies and in couple of digital marketing agencies. He is particularly interested in the long-term implications of blockchain technology for politics, society and the economy.