The Ethereum co-founder invested $1 in Bitcoin in 2011. What has he changed to this day?
When Bitcoin was valued at more than $1, Charles Hoskinson, co-founder of Ethereum and Cardano, entered the field of cryptocurrency. Since then, the infrastructure that supports the market and blockchain systems has changed dramatically, exponentially.
The co-founder of Ethereum entered the cryptocurrency field very early, when Bitcoin was valued at just over $1. From that time on, the blockchain market and system facilities supported a frenzied growth, exponential growth.
In an interview with Mpho Dagada, Hoskinson, CEO of Cardano (ADA) and Ethereum Classic (ETC), said that his first participation in the cryptocurrency industry was through bitcoin mining in 2011, which dominated The status of Bitcoin was worth billions of dollars at the time.
In 2013, the price of Bitcoin increased 250 times from $1 and was worth $250. At that time, Hoskinson decided to participate in the industry and prepare to lead the big project.
Meeting with Vitalik
After the disagreement between EOS's chief technology officer Dan Larimer, Hoskinson met Vitalik Buterin.
Initially, Hoskinson revealed that a Chinese entrepreneur had negotiated with him and hoped to create a stablecoin with $500,000 in funding. At that time, Tether (USDT) did not exist, and there was no stablecoins on the market that could hedge investors' value of the cryptocurrency and the US dollar.
After rejecting the collaboration, Hoskinson met Dan Larimier, founder of BitShares, and began researching the first decentralized cryptocurrency trading platform. Then, Hoskinson finally left the company because of a disagreement with Larimier. Later, Hoskinson met Anthony Di lorio and Vitalik Buterin to create the Ethereum blockchain.
Four-year exponential growth
Since 2014, the market facilities, blockchain systems and scalability of the cryptocurrency industry have grown exponentially. The advent of Ethereum in 2014 also made the cryptocurrency industry move towards the era of distributed applications Dapps, becoming the world's first distributed computing system.
Ethereum has opened up an era of cryptocurrency ICO raising, enabling blockchain projects to raise millions or even hundreds of millions of dollars to develop blockchain protocols and technologies. Outside of the event, EOS's initial coin offer (Eos ICO) raised $4 billion, and this historic raise was led by Dan Larimer.
After the establishment of Ethereum, Hoskinson released Cardano coin in 2015. This is the first Proof-of-Stake (Pos) blockchain protocol designed to handle Dapp and payment, with two separate levels to maximize scalability.
While making great strides in development, the price of Bitcoin hit a record high of $19,500. Although Bitcoin has fallen to $6,500 in the past nine months, Bitcoin has returned 6,500 times since 2011.