Musk’s ‘Bitcoin-Style’ XChat… Experts Say ‘Not So Sure’

Some experts are expressing skepticism about XChat, the new messaging platform unveiled by X (formerly Twitter). In particular, the phrase 'Bitcoin-style' emphasized by Elon Musk, CEO of X, has drawn criticism.

On the 2nd (Korean time), CoinDesk, a media outlet specializing in virtual assets (cryptocurrencies), reported that both Bitcoin market and tech industry experts are responding negatively to Musk's XChat.

Previously, Musk introduced XChat via his own X account. Musk explained, "XChat features encryption, message disappearance, and the ability to transfer all types of files," and said, "Among them, especially, audio and video calls are built on Rust with Bitcoin-style encryption."

However, experts questioned the 'Bitcoin-style encryption' Musk mentioned. Ian Myers, professor of computer engineering at the University of Maryland, pointed out, "Bitcoin primarily uses signatures, not encryption," and said, "(Musk's statement) is like describing NASA launching a rocket using water just because they use hydrogen and oxygen."

He added, "It goes without saying," and remarked, "Bitcoin-style is neither a term that describes Rust nor a strong indicator of security for a messaging app."

The reaction from the virtual assets community is also cold. As of 2:02 p.m. that day, Bitcoin was recorded at $104,825, up 0.15% from the previous day, according to CoinMarketCap.