Charles Hoskinson declines the Web Summit invitation due to the politicization of tech conferences and plans an AMA instead. AXO DEX launches public testnet on Cardano network and anticipates unconventional trading patterns. Cardano ADA Price Remains Moderate Despite Positive Crypto Market; possible breakup with more whale acquisitions.
Charles Hoskinson, Cardano founder, recently declined an invitation to participate in a Web Summit because these events have become political.
On October 20, Hoskinson explained that he declined the invitation, citing concerns about the increasing politicization of technology conferences.
Hoskinson Turns Down Speaking Room at Web Summit
Hoskinson believes these conferences should be forums for sharing ideas and innovation for a better future rather than being used to make political statements. Reflecting on his previous experience at the event, Hoskinson noted that he spent 20 minutes defending the crypto industry against accusations of criminality.
He added that tech events should focus on collaboration rather than becoming spaces for judgment. Hoskinson said the following:
“The magic of technology conferences is supposed to be the wonder of a better tomorrow, the showcase of great ideas and new experiences. Not asking your speakers to explain why they are not criminals or attending a political statement.”
As an alternative, Hoskinson revealed his intentions to host a five-hour Ask Me Anything (AMA) session. He has not yet provided details on when this session will take place.
Cardano’s AXO DEX Launches Public Testnet
Decentralized exchange (DEX) AXO recently unveiled its public testnet on the Cardano network. On October 19, AXO said the public testnet would collect test data from widespread use of the protocol. The exchange said it anticipates unconventional patterns on its testnet and added that it could intentionally limit the performance of its protocol to minimize data noise.
“Depending on insights gathered from the testnet, we could introduce an update to the Axo protocol. These changes could be as subtle as brief downtimes or, in more extreme cases, require a comprehensive network relaunch.”
Charles Hoskinson: Cryptocurrencies and Their Role against CBDCs
According to the creator of Cardano, cryptocurrencies are the “antithesis” of CBDCs. The world of cryptocurrencies has been supported by one great pillar: the financial freedom of users. Its foundation was born with the crisis of 2008 and the hope of many to find a solution to the great centralization that existed.
As years went by, though, institutions and governments found potential to use in the blockchain. For this reason, in recent years the idea of creating a digital currency controlled by central banks, known as CBDC, arose.
CBDCs have been controversial across sectors. On the one hand, many in the political world reject them for being a form of control over citizens. On the other hand, in the world of cryptocurrencies they see CBDCs as a violation of the founding proposal of the crypto project.
As a currency created and controlled by a central bank, CBDCs are centralized, unlike cryptocurrencies. For this reason, rejection in the crypto world is widespread.
Cardano (ADA) Price
The cryptocurrency market enjoyed a positive week, but Cardano’s ADA price remained largely subdued. Data provided by a specialized web portal shows that the Cardano ADA token rose 3.3% in the last 24 hours to around $0.25.
This price action has holders worried about a more bullish move. BeInCrypto reported that the market could see an ADA price breakout if it sees more whale acquisitions, along with an increase in the network’s daily participation rate.
By Leonardo Pérez