Social media platform X is rolling out a brand new messaging function, 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 can function audio and video calling, “encryption, vanishing messages, and the flexibility to ship any sort 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 type) encryption, complete new structure.”
On Could 29, X stated that it needed to pause its encrypted messaging function 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 corresponding 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 concept 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 gotten a secret personal key and a public key that’s mathematically derived from it on a calculated curve the place the maths solely works in a single route however is almost unimaginable to reverse.
This lets holders show they personal the BTC and authorize transactions with out revealing the personal 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 present rolling out to paid subscribers and seems to be protected by a four-digit passcode.
X Cash in testing
On Could 25, Musk confirmed that the corporate was additionally engaged on a funds function referred to as X Cash, which can launch in beta later this yr.
He stated that testing will probably be a “very restricted entry beta at first,” including that “when folks’s financial savings are concerned, excessive care have to be taken.”
Musk bought X, then referred to as Twitter, in October 2022 and has lengthy promised to show the platform into an “all the pieces app” just like WeChat — with options and companies past what is often obtainable on social media platforms.
The brand new choices recommend that X is now able to attempt to rival encrypted messaging platforms corresponding to Telegram and Sign, whereas additionally trying to compete with standard fintech apps Venmo and Money App.
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