According to Goertzel, any blockchain that underperforms will be outperformed and they will happily migrate to another. Cardano has proven to be a cost-effective and more scalable option for SingularityNET.
Goertzel believes that the technical demands of SingularityNET will help drive adoption for the Cardano blockchain. The CEO of Cardano, Charles Hoskinson, had this to say about the partnership;
“We look to our partners and say, well what do you guys need? Where do you want to go? What type of marketplaces do you want to be involved in? And how can we help build this technology together, and make that consumable infrastructure grow with you?”
While the challenges they are currently facing are not going to be easy to overcome, Hoskinson believes that solving them will drive adoption to the Cardano blockchain. This will push Cardano to become the best blockchain in the space. More development for Cardano might lead to mass adoption for the ADA token. At the time of writing, the price of the token was $0.091127. This means that the token is down by 11.43% against the USD and down by 7.76% against Bitcoin BTC.
The trading volume over 24 hours was $861,575,221 and the market capitalization was $2,835,196,489. The token has been on a roller-coaster ride for the last few days as it has been unable to hold the line above the $0.1000 level.
Ufuoma Ogono is a cryptocurrency writer with over 3 years experience in the cryptocurrency industry. She dedicates her time to sharing valuable information to members of the cryptocurrency community.
- Cardano Partnered with the AI Firm, SingularityNET Yesterday
- Technical Demands of SingularityNET Will Drive Cardano Development
- Development for Cardano Will Promote Mass Adoption for ADA
Yesterday, the AI firm SingularityNET announced a partnership with Cardano as part of its expansion plans. This came as a shock to the Ethereum community since SingularityNET was initially an Ethereum only platform. The partnership Charles Hoskinson’s vision for Cardano.
Hoskinson and others in the Cardano community believe that the blockchain has what it takes to overtake Ethereum. Partnerships like these will make this happen.
SingularityNET and the Cardano Blockchain
Members of the Ethereum community aren’t happy with SingularityNET’s venture to Cardano, the CEO of the SingularityNET Dr. Ben Goertzel said;
“What I want to do is make SingularityNET platform infrastructure multi-chain. We had that in our minds from the very beginning. Right now it’s all on Ethereum… but it doesn’t all have to be on one blockchain… some of the AGI tokens will remain on Ethereum, and some migrate to Cardano. How much remains on Ethereum and how much goes to Cardano, that’s for the community and the market to decide, right? If the Cardano portion works much much better then everything should migrate there. If it turns out the Ethereum portion is more useful for some purposes, then so be it.”