CHARLES Hoskinson is the co-founder of Ethereum and Cardano.
But what is the story behind the entrepreneur and what is his net worth?
Who is Charles Hoskinson?
Charles Hoskinson was born to two doctors on November 5, 1987, in Hawaii.
He went to Metropolitan State University of Denver and the University of Colorado Boulder to study analytic number theory.
In 2013, Hoskinson quit his consulting job to focus on cryptocurrency and its potential.
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He believed the limited supply of Bitcoin made it a form of digital gold.
Later that year, he created the BitShares network which was an early decentralized exchange platform.
He then went on to create the Bitcoin Education Project where he met Vitalik Buterin.
In late 2013, he joined Ethereum as CEO and was one of the five founders but Vitalik Buterin and the Ethereum team removed Hoskinson as CEO in 2014 following a dispute over whether the project should be commercial, which was Hoskinson’s view or a nonprofit, which was Buterin’s view.
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In late 2014, Hoskinson and former Ethereum employee Jeremy Wood founded IOHK (Input Output Hong Kong), an engineering and research company, to build cryptocurrencies and blockchains.
He is currently the CEO of IOHK with their goal being to supply financial services to the 3 billion people globally who don’t have transparent and equitable financial and governance systems.
IOHK’s main project is Cardano.
Cardano is a proof-of-stake blockchain and like Ethereum, allows users to create smart contracts.
A smart contract is a contract that will carry out instructions and is expressed as a piece of code.
However, there’s no middleman meaning no person or company hold your information or verifies it. The blockchain verifies and holds information for you.
Cardano wants to be a stable and secure platform for the development of decentralized applications (dapps).
Hoskinson said: “Cardano is an open platform that seeks to provide economic identity to the billions who lack it by providing decentralized applications to manage identity, value and governance.”
In 2019, IOHK joined forces with footwear manufacturer New Balance to try and stop counterfeit sneakers – enabling customers to confirm the authenticity of products using the Cardano blockchain.
While in April 2021, IOHK partnered with the Ethiopian government and rolled out a solution to help verify students’ identities in schools.
What is Charles Hoskinson’s net worth?
Charles Hoskinson is believed to be worth between $500 million and $600 million after co-founding Cardano and Ethereum.
In September 2021, Hoskinson donated $20 million to Carnegie Mellon University to build the Hoskinson Center for Mathematics.