Charles Hoskinson approached Sam Altman for a project. ADA price increased after the tweet.
Cardano [ADA] founder Charles Hoskinson has openly asked embattled former OpenAI CEO Sam Altman to join him on a project. Hoskinson acknowledged that Altman’s experience can be useful in creating a decentralized LLM for the Cardano blockchain.
Hoskinson posted on X the following:
“Sam @sama since you have some free time now. If you are interested in doing a decentralized LLM, then hit me up. Would be a fun Cardano Partnerchain.”
LLM is an acronym for large language models. It is described as an advanced Artificial Intelligence (AI) model developed to train and recognize different human languages. A decentralized LLM is an artificial intelligence model that leverages blockchain technology to improve the security and transparency of a project.
According to what is stated on the website of OpenAI, a company created by Sam Altman, these models drive ChatGPT:
“[And] they are developed using three main sources of information: (1) information that is publicly available on the Internet, (2) information that we license from third parties, and (3) information that our users or our human trainers provide.”
A Quick Job Offer for The Man
Hoskinson’s request was born from the fact that Altman may have time on his hands. This is mainly due to his recent firing, as has been reported. Furthermore, Cardano has been fighting for the top spot in development activity with DOT for a moment. If Altman accepts the proposal, then the project could solidify its position as a leader by the metric.
The status of Cardano development activity has been being evaluated. Using Santiment’s on-chain data, the analysis revealed that there has been a slight drop in the metric. Development activity measures the dedication developers have toward network updates.
An increase in the metric suggests an increase in the number of new features shipped. On the other hand, a decrease implies a decrease in the network polishing rate. However, the decrease in development activity does not take away from the fact that Cardano has some important milestones during the week.
Bullish for ADA, but Little Chance for Cardano
Another metric worth considering is weighted sentiment, which shows whether the crowd is bullish or bearish on a project. In the last seven days, Cardano’s sentiment weighted had gone from 0.218 to 1.529.
This increase implies that the market has gone from a pessimistic view to an optimistic one. This thought process was also evident in the ADA report. price action. At press time, the price of ADA was $0.37. The increase was the result of a 6.60% increase in 24 hours.
However, are traders still bullish on ADA? Indications from the Funding Rate seem to think so. At the time of writing, the funding rate was 0.01%. Funding rates indicate whether open positions in the derivatives market are trending upward or whether traders are projecting a bearish trend.
Since the funding rate was not negative, it means that traders have more positions predicting another rise for ADA. Meanwhile, Hoskinson’s call to Altman may not yield anything positive yet.
This inference is due to the complicated circumstances surrounding OpenAI’s revered co-founder. Most recently, employees of the artificial intelligence company asked the company’s board of directors to reinstate him. The board has been considering it, according to CNN Business.
By Audy Castaneda