He is one of the reputable crypto enthusiasts who have taken it upon himself to educate people about blockchain and cryptocurrency. In this article, we’ll discuss who he is, and his divisive views in the crypto community.
A Peep into His Education
A notable mathematician from the Metropolitan State University of Denver and the University of Colorado, Boulder, Charles studied analytic number theory. He later ventured into cryptography as a result of the industry exposure he had after graduation.
His Career Path
In 2013, Hoskinson resigned from his consulting job to kick-start the Bitcoin Education Project. His career path in the crypto community started as a result of his enthusiasm for the limited supply of Bitcoin and its potential as a form of digital gold. He went on to create the BitShares platform, a decentralized exchange.
Late in 2013, he teamed up with Vitalik Buterin and other founders to create Ethereum. But due to differences in the Ethereum project, he left in 2014.
After his departure, he was joined by former Ethereum founder Jeremy Wood to start Input Output Hong Kong (IOHK). The firm specializes in building blockchains and cryptocurrencies for governments and organizations around the world. The company’s main project is Cardano, which is an energy-efficient smart contract platform that runs on blockchain. ADA is Cardano’s native coin and it’s one of the best altcoins to purchase.
Why is He so Divisive in the Crypto Community?
Known to be one of the co-founders of the world’s biggest altcoin, Ethereum, Charles Hoskinson is not a new name in the crypto community. Although he has impacted the blockchain and cryptocurrency industry greatly, his controversial views and opinions about crypto projects have led to his continuous fallout with other industry bigwigs.
Recently, Cardano has been accused of not reporting its gains in Japan. The information available from Nikke, the Japanese financial publication, stated that the government has shifted its focus on traders who evaded tax.
Also, following the current position of Cardano on the crypto market, in terms of its market cap of $50 billion, the project has come under heavy criticism. Galaxy Digital CEO Mike Novogratz criticized the project for being half-complete with no operational smart contracts, yet could be worth so high. He commented that the fast-growing price and market cap could be possible because of the creation of a “weird cult”.
Likewise, he stated that Cardano is a project-based more on”social construct” than its real use cases. But the IOHK CEO talked about why Cardano lacks smart contracts on many occasions and he said they are still on the way. He stated recently that the major difference between Ethereum and Cardano’s slow and steady progress is its “scientific method” of countering challenges that could harm the success of the project.
Another controversy surrounding Cardano is the company’s choice of location – Japan. Top commentators in the crypto community opined that the “success” of Cardano is because close to 90 percent of Japanese have stakes in the project. And the critics termed the altcoin a “vaporware”.
Hoskinson pointed out that criticism of Cardano is because of the project’s location and origin, which he called the “Japanese Bias”. He further explained that Japan was chosen as the location of the project because it was “the friendliest, most favorable, and [offers] the most long-term growth.
Another controversy about the Cardano project was the way it was marketed to the Japanese. Crypto pundits criticized the firm for marketing the project as an “investment to retire on”. Hoskinson acknowledged that there could have been some irregularities as it regards the way Cardano was marketed to the public. He stated that the company’s marketing campaign was done by a third-party agency. And he noted that Cardano took actions to protect the ICO participants to guard against loss of investment.
Irrespective of your opinion about Charles Hoskinson, he has truly contributed his quota to the growth and establishment of many crypto projects. Top of which are the creation of Ethereum and Cardano. Although he is no longer part of the Ethereum project, he still works tirelessly to effect changes in the crypto industry through the IOHK.