On July 29, the crypto world was treated to an insightful and engaging Ask Me Anything (AMA) session featuring none other than Charles Hoskinson, the visionary founder of Cardano. The session commenced with an exciting announcement of the launch of Intersect, an organization that promises to play a pivotal role in shaping the future of Cardano. Within a matter of days, over 200 members eagerly joined Intersect, setting the stage for significant contributions to the growth and advancement of the Cardano ecosystem. As the community eagerly awaited further updates on the migration of code from IOHK and Intersect in the days to come, Charles Hoskinson also teased valuable insights on the latest Cardano workshops and partnerships.

Addressing one of the most significant developments in the crypto space, Charles Hoskinson couldn’t contain his enthusiasm over Judge Analisa Torres’ landmark decision in the US SEC v. Ripple lawsuit. The ruling was hailed as a resounding win for the entire crypto community, as it swiftly led to XRP’s re-listing on major crypto exchanges. Beyond that, the decision established a critical legal precedent, asserting that cryptocurrencies such as Cardano, Solana, Polygon (MATIC), and others are not securities. Charles Hoskinson, with a strong sense of conviction, emphasized that the ruling significantly weakened the SEC’s argument and called on lawmakers to take decisive action by passing crypto legislation in the United States. Such legislation would provide the much-needed clarity and regulatory framework to bolster the growth and stability of the crypto industry. With unshakable conviction, he asserted that ADA, Cardano’s native cryptocurrency, is not a security, underscoring the decentralized and community-driven nature of the project.

The AMA session continued with Charles Hoskinson providing eagerly anticipated updates on a multitude of Cardano-related projects. He proudly highlighted the successful progress of the data protection-focused sidechain, Midnight, which promises to enhance the privacy and security of Cardano’s blockchain. In a show of admiration and support, he congratulated Ergo for being the first blockchain to successfully implement Non-Interactive Proofs of Proof-of-Work (NIPoPoWs), a significant achievement for the project. Additionally, Charles Hoskinson delved into the exciting world of multi-delegation within the upcoming Lace 1.4 version, shedding light on the innovations and improvements that lay ahead.

Notably, the session turned its spotlight on the Hydra layer 2 scalability solution, a highly anticipated and groundbreaking development within the Cardano ecosystem. Charles Hoskinson shared valuable insights on the upcoming releases, key contributors driving the project forward, and the expected features in future updates. The Hydra solution holds tremendous promise for Cardano, aiming to significantly enhance its transaction throughput and overall scalability, positioning it as a viable contender for mainstream adoption.

A thought-provoking moment arose during the AMA when the topic of backing the US dollar with Bitcoin was raised, referring to a proposal by Presidential Candidate Robert Kennedy Jr. Charles Hoskinson astutely pointed out the challenges associated with such a move, particularly considering Bitcoin’s finite and limited supply. In expressing concern over current monetary policies and their implications for individuals, he boldly stated, “They are stealing from you on a day-to-day basis.” With inflation rates on the rise, mounting US debt, and other economic tensions signaling underlying issues, Charles Hoskinson underscored the urgency of addressing these concerns to foster sustainable economic growth.

The AMA also delved into recent crypto bills passed by the US House Financial Services Committee with the support of some Democrats. Charles Hoskinson welcomed the bills as monumental steps forward for the industry, signaling an increasing awareness of the transformative potential of blockchain technology. However, he also emphasized the need for further discussions with his government affairs team to fully grasp the implications and nuances of the proposed legislation.

As the engaging AMA session came to a close, the price of ADA, Cardano’s native cryptocurrency, reflected a 1% increase in the past 24 hours, currently trading at $0.31, with a predominantly sideways movement throughout the week. Charles Hoskinson’s AMA session proved to be a captivating glimpse into the dynamic and ever-evolving crypto space. It underscored the importance of clear and informed legislation to foster continued growth, innovation, and responsible development within the industry. As the crypto world continues to gain momentum and make strides toward mainstream acceptance, visionary leaders like Charles Hoskinson will undoubtedly play a central role in shaping the future of blockchain technology and its profound impact on global financial systems.