Cardano Excluded from U.S. Blockchain Data Program: Implications for ADA's Future

Cardano, founded by Charles Hoskinson, was excluded from the U.S. Department of Commerce's blockchain data program, citing a high price quote from oracle provider Chainlink. Hoskinson blamed Chainlink for the exclusion, stating that Cardano will find another path forward. Despite this setback, Cardano is in talks with Aave for a decentralized finance partnership and plans to launch the USD1 stablecoin. The exclusion highlights Cardano's ongoing struggle to achieve mainstream adoption despite strong fundamentals.

Cardano, the blockchain platform founded by Charles Hoskinson, has been excluded from the U.S. Department of Commerce's blockchain data program. The reason cited is a high price quote from oracle provider Chainlink, according to Hoskinson's recent comments [1].

Hoskinson, during a YouTube AMA session, revealed that Chainlink quoted an "absurd number" for integrating Cardano, making it impractical for the U.S. government deal. Despite this setback, Cardano is actively pursuing other partnerships to bolster its ecosystem.

Cardano is in talks with Aave for a decentralized finance partnership and plans to launch the USD1 stablecoin. The USD1 stablecoin, issued by World Liberty Financial (WLFI), is the fifth-largest stablecoin with a market capitalization of $2.67 billion. If successfully integrated, USD1 could become the largest stablecoin in the Cardano ecosystem, potentially driving more user transactions and boosting Cardano's utility and adoption [2].

The exclusion from the U.S. government's blockchain initiative highlights Cardano's ongoing struggle to achieve mainstream adoption, despite its strong fundamentals and zero downtime record in five years. Hoskinson remains optimistic, stating that Cardano will find another path forward and is working towards integrating with Chainlink, Aave, and USD1.

References:
[1] https://www.ccn.com/news/crypto/cardanos-charles-hoskinson-chainlinks-absurd-fee-snubbed-ada-us-gov-data-deal/
[2] https://blockonomi.com/cardano-ada-price-technical-analysis-points-to-potential-1-20-target/