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Cardano Founder Opts for AMA Over Politically Charged Web Summit

2 mins
Updated by Ryan James
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In Brief

  • Charles Hoskinson declines Web Summit invite due to politicization of tech conferences, plans an AMA instead.
  • AXO DEX launches public testnet on Cardano network, anticipates unconventional trading patterns.
  • Cardano's ADA price remains subdued despite positive crypto market; potential breakout with more whale acquisitions.
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Charles Hoskinson, the founder of Cardano, recently declined an invitation to participate in a Web Summit because these events have turned political.

On October 20, Hoskinson explained that he declined the invitation, citing concerns about the increasing politicization of technology conferences.

Hoskinson Declines Web Summit Speaking Slot

Hoksinson believes these conferences should be forums for sharing ideas and innovation for a brighter 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 technology events should focus on collaboration rather than become arenas for judgment.

“The magic of technology conferences is supposed to be the wonder of a better tomorrow, great ideas being showcased, and new experiences. Not asking your speakers to explain why they aren’t criminals or now make attending a political statement,” Hoskinson said.

As an alternative, Hoskinson revealed intentions to host a five-hour Ask Me Anything (AMA) session. He has yet to provide details of when this session will be held.

Cardano’s AXO DEX Launches Public Testnet

The AXO Decentralized Exchange (DEX) recently introduced its public testnet on the Cardano network.

On October 19, AXO said the public testnet would gather testing data from widespread protocol use. The exchange said it anticipates unconventional trading patterns on its testnet, adding that it might intentionally limit its protocol throughput to minimize data noise.

Cardano AXO DEX
AXO Trading Interface. Source: AXO

It added:

“Depending on the insights gathered from the testnet, we might introduce an Axo protocol update. These changes could be as subtle as brief downtimes or, in more extreme cases, necessitate a comprehensive network relaunch.”

ADA Price

The crypto market enjoyed a positive week, but Cardano’s ADA price remained mostly subdued. BeIncrypto data shows that the Cardano ADA token rose 3.3% over the last 24 hours to around $0.25.

Cardano ADA price
Cardano ADA Price. Source: BeInCrypto

This price action has had holders concerned about a more bullish movement. BeInCrypto reported that the market could see an ADA price breakout if it sees more whale acquisitions, alongside an increase in the network’s daily network participation rate.

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Oluwapelumi Adejumo
Oluwapelumi believes Bitcoin and blockchain technology have the potential to change the world for the better. He is an avid reader and began writing about crypto in 2020.