Jack Dorsey Gives Decentralized Social Network Nostr 14 BTC in Funding
Jack Dorsey donated roughly 14 BTC, worth about $245,000, to further fund development of Nostr (short for Notes and Other Stuff Transmitted by Relays).
After it was reported that Jack Dorsey will donate $1 million annually to encrypted messaging app Signal, Koty Auditore took to Twitter to urge Dorsey to fund Nostr, following a blog post where Dorsey published his views on the need for a native internet protocol for social media.
Nostr is an open protocol that aims to create a censorship-resistant global social network. The protocol doesn’t rely on a trusted central server; instead, all users run a client. Using this client, users publish content by writing a post, signing it with their private key and sending it to other servers which then relay that content along. The relays are simple: Their only job is to accept posts and forward them along to relay participants.
Dorsey co-founded Twitter in 2006 and departed the company on Nov. 29, 2021, so that the company could move on from its founders. He remained the CEO of Block, a company dedicated to furthering economic empowerment through its portfolio companies. Since his departure from Twitter, the now-Elon Musk-owned company has experienced a rough patch, prompting some users to seek alternatives such as Urbit and Mastodon.