Social media platform X is rolling out a brand new messaging characteristic, XChats, which proprietor Elon Musk says may have “Bitcoin-style encryption.”
XChat is seemingly a extra feature-rich model of the platform’s direct messaging perform, which is able to characteristic audio and video calling, “encryption, vanishing messages, and the power to ship any type of file,” Musk stated in a June 1 X publish.
The brand new messaging service is constructed on the Rust programming language, which Musk stated had “(Bitcoin model) encryption, entire new structure.”
On Might 29, X stated that it needed to pause its encrypted messaging characteristic whereas it labored on enhancements, which can have been associated to the discharge of XChat.
Musk’s touch upon XChat’s encryption spurred a flurry of reactions from Bitcoiners akin to JAN3 CEO Samson Mow, who stated that “Bitcoin isn’t encrypted,” whereas crypto influencer “Pledditor” added that Bitcoin “makes use of elliptic curve cryptography.”
Bitcoin (BTC) core developer Luke Dashjr additionally chimed in, stating “Bitcoin doesn’t even use encryption” and that utilizing the Rust language was “a nasty thought for safety causes.”
“Possibly Musk means like BIP-151 peer-to-peer communication encryption,” BitMEX Analysis advised, mentioning the Bitcoin Enchancment Proposal designed to encrypt Bitcoin node information.
Bitcoin’s elliptic curve cryptography works like a mathematical lock system the place you’ve got a secret non-public key and a public key that’s mathematically derived from it on a calculated curve the place the mathematics solely works in a single course however is sort of unimaginable to reverse.
This lets holders show they personal the BTC and authorize transactions with out revealing the non-public key, making the system safe without having a government. Bitcoin additionally makes use of SHA-256 hashing for transaction validation and creating block and transaction IDs.
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TechCrunch reported that XChat is at the moment rolling out to paid subscribers and seems to be protected by a four-digit passcode.
X Cash in testing
On Might 25, Musk confirmed that the corporate was additionally engaged on a funds characteristic referred to as X Cash, which is able to launch in beta later this 12 months.
He stated that testing will probably be a “very restricted entry beta at first,” including that “when individuals’s financial savings are concerned, excessive care should be taken.”
Musk bought X, then referred to as Twitter, in October 2022 and has lengthy promised to show the platform into an “every thing app” just like WeChat — with options and providers past what is usually out there on social media platforms.
The brand new choices counsel that X is now able to attempt to rival encrypted messaging platforms akin to Telegram and Sign, whereas additionally seeking to compete with well-liked fintech apps Venmo and Money App.
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