Journalist
Posted:
- Charles Hoskinson contacted Sam Altman for a project.
- ADA’s price rose after the tweet.
Cardanos [ADA] founder Charles Hoskinson has openly asked controversial former OpenAI CEO Sam Altman to join him on a project. Hoskinson acknowledged that Altman’s expertise could be useful in building a decentralized LLM for the Cardano blockchain.
Sam @sama because you have some free time now. If you are interested in doing a decentralized LLM, please contact me. Would be a nice Cardano Partnerchain
— Charles Hoskinson (@IOHK_Charles) November 18, 2023
LLM is an acronym for Large Language Models. It is described as an advanced AI (artificial intelligence) model developed to train and recognize various human languages.
A decentralized LLM is an AI model that uses blockchain technology to provide enhanced security and transparency for a project.
A quick job offer for the man
Hoskinson’s request stemmed from the fact that Altman might have free time. This is mainly due to his resignation that recently took place, as AMBCrypto reported.
Moreover, Cardano is struggling to rank first in development activities Dot [DOT] for a while. Should Altman agree to the proposal, the project could cement his position as a leader by the benchmark.
AMBCrypto considered to evaluate the state of Cardano’s development activities. Using Santiment’s on-chain data, the analysis found that there has been a slight decline in the metric. Development activity measures the commitment developers have to upgrades to a network.
An increase in the metric indicates an increase in the number of new features shipped. On the other hand, a decrease implies a decrease in the degree of network polishing.
However, the decline in development activities does not alter the fact that Cardano has a number of large projects milestones during the week.
Source: Santiment
Bullish for ADA, but little chance for Cardano
Another metric worth considering is weighted sentiment, which shows whether the crowd is positive or negative about a project. Over the past seven days, Cardano’s weighted sentiment had risen from 0.218 to 1.529.
This increase implies that the market has moved from a pessimistic to an optimistic view. This thought process was also evident in ADAs price promotion. At the time of writing, ADA’s price was $0.37. The peak was the result of a 6.60% increase over 24 hours.
But are traders still bullish on ADA? Well, clues from the Financing rate seem to think so. At the time of writing, the financing rate was 0.01%. Funding rates indicate whether open positions in the derivatives market are tilting upward or whether traders are projecting a downward trend.
Since the funding rate was not negative, this means that traders have more positions predicting a new increase for the ADA. In the meantime, Hoskinson’s call to Altman may not yield anything positive just yet.
Source: Santiment
Realistic or not, here it is The market capitalization of ADA in terms of DOT
This inference is due to the complicated circumstances surrounding OpenAI’s respected co-founder. At the time of writing, employees of the AI company have done so asked the company’s board of directors to reinstate him. According to CNN Business, the board has thought about it.
Should OpenAI recall Altman, and he agrees, it could be difficult for Hoskinson to get his way.