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ThecoinrepublicBlogCharles Hoskinson: From Ethereum Co-Founder To Cardano...
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Charles Hoskinson: From Ethereum Co-Founder To Cardano Innovation

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Charles Hoskinson is an American entrepreneur who studied analytic number theory before moving into cryptography. Hoskinson quit a consulting job in 2013 to begin a project called the Bitcoin Education Project, believing the limited supply of Bitcoin makes it a digital form of gold.

He joined Ethereum in 2013 as one of the five founders, but he served till 2014, when Buterin and team Ethereum removed him due to some project dispute. The dispute was whether to make the project commercial or a non-profit. Hoskinson’s view supported the commercial idea, while Buterin wished to make the project non-profitable.

Besides Cardano, Other Investments Includes IOHK

In late 2014, Charles and former Ethereum colleague Jeremy Wood formed IOHK (Input Output Hong Kong). IOHK is an engineering and research company to build cryptocurrencies, and its key project is Cardano. 

Hoskinson does not look for venture capital because he thinks that it might lead to the outside control of a project. In 2020, Hoskinson spoke at the World Economic Forum in Davos, expressing his views on how blockchain may eventually cause social change.

The development of Cardano began in 2015 and it was launched in 2017. It was launched with the goal of improving the functionality that Ethereum lacks. It is a proof-of-stake based platform, providing unmatched security and sustainability to decentralized apps and systems. One can send and receive funds instantly with minimal transaction fees.

Cardano (ADA) is the most environmentally sustainable blockchain platform as it uses energy saving proof of stake mechanisms, opposed to proof of work mechanisms utilized by Bitcoin and Ethereum. It is a public blockchain platform, providing peer to peer transactions with internal cryptocurrency ADA. It is a smart contract platform that hosts the ADA cryptocurrency, and is looking to create a decentralized application (dApp) development platform.

Cardano (ADA) is a decentralized proof of stake blockchain platform and cryptocurrency.  

The popular feature of Cardano is proof of stake consensus protocol which is designed to minimize the energy expenditure. 

The token holders can send and receive ADA instantaneously with minimal transaction fees. The Cardano Computational Layer contains the proof of stake, Ouroboros consensus protocol. The protocol helps to run smart contracts and guarantee security.

Charles Hoskinson’s Future Plans and Vision Regarding Cardano

Hoskinson has a wide range of plans regarding Cardano,  including the improvement in its functionality. He wishes to establish it as a safer and long lasting blockchain platform. He also focuses on regulatory clarity and building an environment to promote the ADA to be adopted more widely.

Hoskinson has emphasized the importance of academic collaboration and how this sets Cardano apart,  prioritizing scientific research and peer review development practices. The system is open to review by its peers, giving Cardano reliability that most other coins don’t have. Comparatively, the transactions are cost effective.

Charles Hoskinson’s projects focus on educating people about cryptocurrency, making cryptographic tools easier. This includes Cardano, a third generation cryptocurrency.  Its layer two scaling solution known as Hydra will theoretically be able to process 1 Million transactions per second, which is higher than Bitcoin’s 7 TPS and Ethereum’s 12 TPS.

He said the improvements might help the blockchain’s native token, ADA, outperform Bitcoin, Ethereum, and other cryptocurrencies.

Recent Statistics of Cardano

The market cap of Cardano is $10B. Its volume in 24h is $207M and its circulating supply is 34,955,928,582 ADA. Looking at the 7-day chart, the price of the coin is $0.2826 and volume is $202.43M on 27th June, 2023. This has changed to price $0.2996 and volume of $200.74M on July 4th, 2023.

Charles Hoskinson: From Ethereum Co-Founder To Cardano Innovation
Source: coinmarketcap

Cardano, the open source project is determined to create secure, transparent, and fair transactions. Its proof of stake mechanisms, which is an energy saver, adds unique quality in the coin.

Disclaimer

The contents of this page are intended for general informational purposes and do not constitute financial, investment, or any other form of advice. Investing in or trading crypto assets carries the risk of financial loss. The forecasted data (also called “price prediction”) on this page are subject to change without notice and are not guaranteed to be accurate.

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Andrew Smith
Andrew Smith
Andrew is a blockchain developer who developed his interest in cryptocurrencies while his post-graduation. He is a keen observer of details and shares his passion for writing along with being a developer. His backend knowledge about blockchain helps him give a unique perspective to his writing
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