Charles Hoskinson is a technology-based entrepreneur and mathematician from Colorado, US. He is the co-founder of Ethereum and the creator of Cardano. Which are two of the most famous cryptocurrencies worldwide.
Charles Hoskinson was one of the founding members of the Bitcoin Foundation’s education committee and made the Cryptocurrency Research Group in 2013.
He started his career in consulting but resigned from the same to focus on the intricacies and scope of the cryptocurrency world.
Hoskinson has an estimated net worth of around $500-600$ million and he is one of the most established and wealthy individuals in the realm of crypto
Early Life and Education
Born in Hawaii in 1987, Charles Hoskinson came from a family of doctors. Hoskinson attended the University of Colorado and the Metropolitan State University of Denver where he learned mathematics and cryptography. He was very keen on functional programming and expressed interest in fishing and chess.
In the year 2008 he joined US politician Ron Paul’s presidential campaign which was famous back in the day for its libertarian viewpoint. Austrian economics and monetary theory state that a fiat currency system is unstable and Bitcoin can address the issue piqued his interest to learn more about the various dynamics of the crypto world.
Contributions to the World of Crypto
Along with Vitalik Buterin and six other people, Hoskinson co-founded Ethereum in 2013. However his views didn’t align well with Buterin’s vision for Ethereum, so he left the project in 2014.
Later with Jeremy Wood(another cofounder of ETH), he created a blockchain project “IOHK- Input Output’- which is a third-party progress-oriented company that creates cryptocurrencies and blockchains for academic institutions, companies, and government.
He is the current CEO of IOHK(Input Output Hong Kong) which supplies financial assistance to the 3 billion people who don’t have access to clear and transparent financial services and government institutions.
Hoskinson has provided financial assistance for various blockchain technology research labs around the world like the University of Wyoming, the University of Edinburgh, the Tokyo Institute of Technology, and many more.
Hoskinson has expressed his concerns over the energy demand surrounding Bitcoin and asserts that Cardano has a lot more energy efficiency.
Over the years Hoskinson has conducted various campaigns and efforts in the landscape of the crypto world and has made a massive impact in teaching about the system and perception of crypto and blockchain systems.
Hoskinson and Cardano
In 2017 Hoskinson developed an open-source, decentralized, intelligent contract protocol for IOHK called Cardano. It is faster and more adaptable compared to other blockchains.
With Cardano, he aims to address the issues of different crypto ecosystems including the security, effectiveness, and reliability of the network.
Compared to Bitcoin and Ethereum Cardano is more safe and adaptable. Presently Cardano has more than 1000 projects with the help of its web3 decentralized applications.
ADA is the native coin of Cardano and it is named after the first computer programmer Augustus Ada King, Countess of Lovelace. Most cryptocurrency wallets and exchanges allow users to trade ADA.
What inspired Hoskinson?
One of his customers came to him with the idea of developing a ‘Japanese’ version of Ethereum which motivated him to create Cardano.
But more importantly, he was driven by making Cardano an enhanced blockchain compared to Bitcoin(first generation) and Ethereum(second generation).
What are some of the problems he encountered?
Despite all the success Hoskinson had. He was also faced with several challenges and adversities.
Hoskinson has been widely scrutinized by users for having unnecessary control over the blockchain. Furthermore, some people have an opinion that the roadmap of Cardano is too lengthy and slow to move forward.
The Biggest Event in Cardano’s History, Hoskinson breaks silence
Hoskinson disclosed that this month they are targeting for decentralized governance launch with Chang’s hard fork- by the help of which Cardano will become a fully decentralized network.
This facilitates stakeholders to cast their opinions on the future development of the network through community governance.
Vision
Hoskinson’s current projects revolve around the education of cryptocurrency, expanding the idea of decentralization and simplifying cryptography technologies to encourage broader public participation.
He has also made a conscious effort to enhance the network by understanding its weak links and drawbacks
