Cardano CEO Mulls Algorand Partnership to Build Decentralized AI

In the latest development, Cardano CEO Charles Hoskinson shared his views on the power of the Algorand blockchain technology and the possibilities of partnering with them on decentralized artificial intelligence (AI) projects. Such a partnership can unlock new opportunities for both players in the rapidly evolving AI industry.

Cardano CEO Praises Algorand Blockchain

Charles Hoskinson has always been appreciative of potential crypto projects in the market working on decentralized blockchain solutions. Hoskinson recently shared his views on Algorand’s technology, adding that if combined with a specialized proof of work optimized for AI inference, it will make Algorand the leading decentralized AI powerhouse in the crypto industry.

The Cardano CEO stated that such a development would be exciting while proposing Algorand to become a partner chain with them. He said that together they would push the capabilities of Minotaur to their fullest potential.

Under the hood, Algorand’s tech combined with a useful proof of work tuned to AI inference would make it the greatest decentralized AI powerhouse our industry has seen. It would be cool to see it become a partnerchain and push Minotaur to its limits. @JohnAlanWoods

— Charles Hoskinson (@IOHK_Charles) August 23, 2024

Algorand Technologies Chief Technical Officer Gary Malouf responded to Hoskinson stating: “Hi Charles, we’d love to hear more about what you are thinking. Definitely not the first time we’ve discussed an overlap with AI capabilities”.

Hoskinson asked IOHK CTO Romain Pellerin to schedule a meeting, responding to which Pellerin said: “Happy to talk, Algorand as a partner chain would be fantastic”. The chance of this partnership looks quite preliminary at this point, however, if it turns out to be fruitful, it might unlock exciting opportunities building synergies between the crypto and the AI world.

Chang Hardfork Delayed Again

The much-awaited Cardano Chang hardfork has been delayed again by four more days from the earlier anticipated launch on August 27, to the newly scheduled launch on September 1. As we know, the Chang hardfork will transform Cardano’s governance model by revolutionizing the use of ADA and thus kickstarting the Voltaire era.

Charles Hoskingson called out Binance and other crypto exchanges adding that they are yet to announce their support for the upgrade. “The magic of deadlines is that people who aren’t taking upgrades seriously suddenly say damn we got to get moving. When they get moving, we converge quickly,” Hoskinson noted.

Amid the broader crypto market rally today, Cardano’s native cryptocurrency ADA has also surged by 4% moving all the way to $0.40. However, this delay with the Chang hardfork might stall the ADA price rally for the time being.

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Bhushan Akolkar

Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.

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