After recently releasing his ideas on a native internet protocol for social media, the former CEO of Twitter has given around 14 BTC worth $245,000 to facilitate the development of Nostr.
Jack Dorsey contributed around 14 BTC, valued at approximately $250,000, to continue to support the development of Nostr (short for Notes and Other Stuff Transmitted by Relays).
After it was revealed that Jack Dorsey would give $1 million yearly to the encrypted messaging app Signal, Koty Auditore turned to Twitter to ask Dorsey to finance Nostr. This was in response to a blog post in which Dorsey expressed the need for a native internet protocol for social media.
Two hours later, Dorsey responded to the tweet by claiming he was figuring out how to accomplish it. Approximately twenty-four hours later, he sent funds to developer fiatjaf.
excellent writeup of problems and solutions…excited to see this. and public domain: https://t.co/bCXRwQNC0p
— jack (@jack) December 14, 2022
Nostr is an open protocol that intends to build a censorship-resistant social network on a global scale. The protocol does not rely on a central server; each user operates a client.
Using this client, users publish material by composing a message, signing it with their private key, and transmitting it to other servers, which subsequently relay it. Simple relays are used: Their sole responsibility is to take messages and forward them to relay participants.
Dorsey co-founded Twitter in 2006 and left on November 29, 2021, allowing the firm to move on from its founders. He remained the chief executive officer of Block – a firm committed to advancing economic empowerment through its portfolio firms.
Since his departure from Twitter, the firm that Elon Musk now controls, has endured a rocky patch, forcing some users to explore alternatives like Urbit and Mastodon.
