In August 2023, Cardano, led by Charles Hoskinson, will hold a public audit of its ADA assets in a livestream format. This initiative is aimed at increasing transparency amid prior disputes.
Goals and Importance of the Audit
The ADA audit initiative is significant in light of the growing scrutiny from the community regarding transparency in operations. Following past allocation disputes, it is clear that such an audit can help dispel suspicions and build trust in the project.
Charles Hoskinson's Plans
Charles Hoskinson announced plans to release a full audit report mid-August. He confirmed that all findings will be shared in real-time, which is a step towards transparency.
Community and Market Implications
Although regulators such as the SEC and CFTC have not yet responded, increased activity on GitHub is expected post-audit, indicating community engagement. The livestream could set a new industry practice and help restore trust.
By conducting open audits, Cardano emphasizes its commitment to transparency and accountability, which could positively impact community trust and strengthen the project's market position.
