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#cardano #bitcoin #crypto
How did a scrappy kid from Hawaii go From dropping out of University while Studying mathematics to co-founding Ethereum and later founding cardano two Of the largest cryptocurrencies in the World today we're diving deep into the History of Charles hoskinson and cardano In our series Foundations Charles always loved Teaching and monetary policy he was Frustrated with the current system and In fact even worked on the Ron Paul Campaign in 2008 he knew a change was Need so when Bitcoin came out a year Later hoskinson immediately knew it was Going to reshape the world crypto crypto Crypto crypto currency becomes more Popular we're starting to see signs that It could become part of our financial Future he was attending the University Of Colorado Boulder and decided to start Buying and Mining Bitcoin and by 2013 Hosas and knew Bitcoin was here to stay He combined his Bitcoin enthusiasm with His love for Education starting the Bitcoin education project that same year Where he on orted tens of thousands of Students into the life of crypto and Then he did time as several other crypto Focused companies like bitshares where He realized just how hard it is to alter Blockchain code after the coin had Already been launched and just like that The seeds for starting a new blockchain
Had been planted meanwhile he continued His work educating the masses on Bitcoin Now with the Bitcoin Alliance of Canada And that's how he ended up meeting the Future founder of ethereum vitalic butan Hoson and vitalic both attended the First ever 2014 North American Bitcoin Conference this conference in Miami Changed crypto forever ethereum was born But crack started a form between vitalic And some of the co-founders when Ethereum started out it had a business Side and a development side according to Hoskinson he was a CEO in name only Without much power he was a glorified Middleman between the two hoskinson Wanted ethereum to do a for-profit model So they could accept Venture Capital Funding and then set up a separate Nonprofit Foundation to run a crowd sale He felt the ethereum project had grown Too big for the current management Structure there were lots of transitory Workers that were working on a volunteer Basis with the hopes of being paid in Ethereum down the line but that meant Good developers was sometimes move on to Accept paying gigs he also had a problem With the lack of hierarchy there was a Committee of eight people trying to make Decisions but every meeting was painful As nothing was decided because no one Had the final say Charles wanted to send Caliz the company so they could actually
Build something but vitalic disagreed Saying a for-profit company would ruin The original vision and that's when a Lot of people exited ethereum including Hoskinson some say hoskinson left and Others say he was removed but his Mysterious cardano co-founder Jeremy Wood who was an executive assistant at Ethereum at the time left with him to Form cardano he founded the canai Bitcoin Meetup Group before he made his Way to the ethereum foundation then he Left left to found cardano with Hoskinson and we still don't have a lot Of information about what he did at the Company wood retired from Chief strategy Officer in 2020 and he hasn't been heard From since now since the great ethereum Split Hoskin and and vitalic has sent Various shots to each other when pressed Hoskinson has said he wouldn't work with Vitalik again because they have Different values he's made fun of Vitalik's quest to live forever and Never grow old and vitalica scoffed at Hoskinson obsession with academic papers And research rigor saying hoskinson Cares more about Professor types versus Customers he's even implied that Hoskinson was incredibly immature and Toxic when they worked together years Ago ouch after the ethereum split Hoskinson and wood founded input output Hong Kong also known as iohk and the
Development of the cardano protocol Began which is named after the Italian Mathematician and scientist guo cardano In fact most of the things in the Cardano universe are nerdy homages to Great thinkers and artists Ada is named After a Lovelace another mathematician And writer the cardano team is broken up Into three parts iohk develops the Cardano protocol and technology and Hoskin and wood both own 50% of the Company this is also the company writing All those academic papers that get Submitted for peer reviews then there's The nonprofit cardano Foundation which Holds the trademark manages projects in Overseas standards and Community Development they're based into Switzerland and Frederick gregard is Currently the CEO and finally a Japanese Company called amergo was a big initial Investor for cardano it's currently ran By Ken Kodama they retain the company That handled the Ada crowd sale between 2015 and 2017 which was originally only Available to Asian customers and raised $62 million in Bitcoin this model of Multiple companies both for-profit and Nonprofit has become the model for many Crypto companies since then Hoskinson created cardano with three Main goals security scalability and Interoperability it was created to Address the issues of Bitcoin and
Ethereum cardono was also one of the First blockchains to introduce the proof Of stake method a move which ethereum Ended up following in September of 2022 But what about their tokenomics a big Difference between ethereum and cardano Is cardano has a 45 billion Supply cap Ethereum doesn't have a supply cap Metallic design this way to allow for Greater flexibility and scalability However holders shouldn't worry too much That vitalic will suddenly inflate the Currency because eth issuance is C at1 18 million per year still a cap Supply Is what makes crypto different from Fiat And should in theory create increased Value let's dive a little bit deeper Into Ada's tokenomics it originally had A market cap of 600 million which had Prices trading around 2 pennies at the High to last bull run it reached $3 with The market cap of almost 100 billion Bucks but how did it reach these Heights One reason is the Treasury System it Spends funds for the long-term health of Cardano a portion of all transaction Fees feed the treasury and it's used to Support future development that's Approved through governance and in case You aren't familiar with the term Governance that means adaah holders get To vote on which Dev they want the Treasury to fund or you could point to The sustainability and sustainability
Here doesn't mean eco-friendliness It means careful methodical growth Versus speed this had led some cardano Skeptics to criticize how slowly they Roll out new tech however cardano has Also made perfect uptime since the Network launched it's very different From competitors like salana or even Bitcoin if you want to see our salana Foundations video link will be below This slow and methodical approach has Led to a ton of Partnerships with Universities for blockchain research Including the University of Edinburg and The University of Wyoming cardano is Also being used by the government of Ethiopia for student ID verification in Fact cardano has a lot of Partnerships On the African continent there's also a Partnership with World mobile that gives Internet access and digital identities To rural communities in Tanzania then There's the partnership with save the Children in Rwanda that began accepting Crypto donations and rewarding local Farmers that participate in their Initiatives like planting trees and Improving soil quality hoskinson has a Goal of onboarding a 100 million African Users by the end of 2024 now let's look At development cardano has already seen Where it's going into the Future these Are referred to as eras the first era Was referred to as Byron named for Lord
Byron the poet politician and Infamous Womanizer Byron started in 2017 when Cardano main net launched and Ada was Available for public trading during this Stage they launched the dataless wallet The Byron phase lasted until 20 when the Shelly phase took over titled in honor Of author Mary Shelly this phase brought Staking and delegation mechanisms Created staking pools and improved Security and performance during this Phase cardono also rolled out the marry Hard fork in March 2021 this allowed Users to Mint tokens on the network Creating altcoins on the ecosystem then In September 2021 cardano achieved the Goen era titled in honor of computer Scientist Joseph Goen the main goal of Goen was to expand cardano's smart Contracts during this era plutus was Introduced which cardano describes as a Smart contract development platform Plutus utilizes hasal which is a Programming language for smart contracts Plutus is also name of the Greek god of Wealth prosperity and abundance while Hll references logician hll Curry I Swear studying cardano is a history and Culture lesson and finally we arrive at Our current cardano ERA which focuses on Scaling baso bash show introduced side Chains to improve performance side Chains are new blockchains that can take On work when the main chain is overran
With transactions cardano hopes that Basho will lead the blockchain to become The most high performance resilient and Flexible blockchain platform in the Industry I guess time will tell and once Bash show is complete we'll enter the Voler era named for the French Enlightenment writer and philosopher This era will focus on governance with The goal of cardano becoming a Completely self-sustaining system system They'll introduce voting for the Treasury that I mentioned previously so Hodlers will be able to decide what Projects receive funding this is when Cardano will reach true decentralization Iohk will no longer be in charge that'll Be left entirely to you and the rest of The community now we just need the Ada Price to catch up with cardano's Innovation or maybe it's good because it Gives us more time to add to our bags Before hoskinson enters his glowup era What do you think do you think Ada is a Steal at these prices I personally think Ada can hit at least $5 this cycle am I Not bullish enough leave me a comment Below and I'll see you at the top
