Charles Hoskinson is a legendary cryptocurrency entrepreneur and valuable asset to the cryptocurrency space. He is the co-founder of three top cryptocurrences; Ethereum, Cardano (ADA) and Bitshares. He is also the founder of the cryptocurrency related startup known as Invictus innovations. Cardano, his latest project, is said to have the potential to overtake Ethereum in the future. Let’s look at how Charles has contributed to the cryptosphere and how influential he is in the cryptocurrency space.
Early Life of Charles Hoskinson
Charles Hoskinson attended the University of Colorado and Metropolitan State University of Denver to study Mathematics. This helped him understand cryptography and also gave him an opportunity to gain the required experience through industry exposure. It was this exposure that led to him meeting Vitalik Buterin while attending an online school and later becoming the co-founder of Ethereum.
Charles then founded the IOHK -blockchain development. This is a firm that promises to provide financial services to billions of unbanked people. IOHK is also the company that developed and launched the Cardano (ADA) blockchain. It manages Ethereum Classic – the original blockchain of Ethereum that continued to live on after the DAO incident.
Ethereum Board Room Fight led to Start of Cardano
Charles’ boardroom misunderstandings with Vitalik led to the start of IOHK and later Cardano. The major difference in opinion between Charles and Vitalik was that the former wanted Ethereum to be a for-profit entity by getting funding from venture capitalists. On the other hand, Vitalik wanted the project to be non-profit and open-source with decentralized governance. Charles Hoskinson moved away from the project with another Ethereum colleague called Jeremy Wood. Together, they started the IOHK organization. IOHK birthed Cardano – a public blockchain and a smart contract platform.
Cardano Blockchain (ADA)
Cardano is much like an Ethereum blockchain that helps run computation on a blockchain and uses the ADA cryptocurrency. IOHK developed the Cardano blockchain to run Smart contracts and other decentralized applications. The ADA cryptocurrency runs on the Cardano Settlement Layer (CSL). There is a second layer in addition to CSL called the Cardano Computational Layer (CCL). The smart Contracts run on this layer. If we compare Cardano with Ethereum, we can say that both CSL and CCL run on the same blockchain layer in the latter. The Cardano blockchain uses sidechains to connect the CSL and CCL.
Charles Hoskinson is one of the entrepreneurs in the cryptocurrency space coming out with different innovations in blockchain technology. With each innovation having different functionalities and use-cases, different solutions are found for various problems in areas that blockchain technology can be applied.