Ethereum founder and developer Vitalik Buterin has proposed the development of a new meme token to counter the growing scam on Twitter.
The spread and proliferation of cryptocurrencies has also brought scams. In particular, the use of Twitter as an active marketing channel has attracted scammers. In the past months, Elon Musk wanted to buy Twitter, but gave up because of bot accounts. Although Musk offered again for Twitter, no solution was found for the fraudsters.
Vitalik Buterin Makes an Anti-Fraud Advice
Vitalik Buterin recommended issuing a token called THE Protocol (THE). In this way, investors using THE hashtag on Twitter will be able to avoid the shares of scammers.
According to Nansen’s report, Buterin’s proposal was implemented. An entrepreneur launched the meme token he founded called THE Protocol. Considering paying royalties, the founder sent about 10 percent of the token supply to Buterin.
It is not yet known whether the idea really works. However, in Buterin’s opinion, the word THE is included in the public posts of scammers. In this way, users will now be able to access a real project rather than spammy posts.
However, the possibility of fraudsters to continue their business with a different sharing method also stands out.
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