In his professional career, Charles Hoskinson has made a name for himself in the cryptocurrency industry. He has been a founding member of three crypto-related start-ups in total. These organizations are Ethereum, Invictus Innovations, and the one who helped him bring Cardano to the world, IOHK. His enthusiasm and experience in the business have led him to the accolades he has today.
Charles Hoskinson’s Net Worth in 2021
Being an exceptional talent in his community, he has reaped the fruits of his labor by being recognized as one of crypto’s wealthiest individuals. He stands with the likes of Binance CEO Changpeng “CZ” Zhao, as well as Ethereum creator and former colleague Vitalik Buterin. In 2021, Charles Hoskinson has an estimated net worth of $500 to $600 million.
Joining the Crypto Industry
Before being one of the most brilliant minds in the field of crypto, Charles Hoskinson worked as a consultant. In 2013, he quit his job to join the community that would eventually be his way to success. His family was shocked and had doubts about his decision, but the business-minded Hoskinson was confident.
He believed in the idea of the first-ever cryptocurrency, Bitcoin, and the potential it had, saying it was the digital equivalent of gold. Thus, he started the Bitcoin Education Project, an online school where he and Buterin had a chance to meet and talk about a great idea.
Hoskinson, Buterin, and six others co-founded the blockchain with contract functionalities, Ethereum. Its native coin is Ether. Being only second to Bitcoin, this innovative digital coin is now one of the most popular cryptocurrencies in the market.
In a boardroom meeting, Hoskinson protested against Buterin’s non-profit and open-source project structure. He wanted to make Ethereum a for-profit organization with more formal governance. This resulted in him leaving the group in June 2014.
Some time after leaving, he expressed his regrets. Ether’s market capitalization increased to $120 billion. He considered going back to his old job, but quitting Ethereum wasn’t the end of Hoskinson’s crypto journey.
Making IOHK and Cardano
Jeremy Wood, Hoskinson’s former Ethereum colleague, proposed a plan that doesn’t go against the man’s ideal project structure. They intended to establish an engineering firm that would create cryptocurrencies and blockchains for enterprises, academic institutions, and governments.
This was the birth of Input Output Hong Kong (IOHK). Since 2015, the organization has dedicated itself to academic rigor and evidence-based software development. Today, the company operates with a remote team of over 400 people around the world.
Perhaps the most notable creation of IOHK is Cardano. It’s a blockchain platform with ADA as its native coin. It employs a PoS (proof-of-stake) consensus process that is more environmentally friendly. Cardano is currently producing tremendous results with a market cap of $65.89 billion (ADA-USD) at the time of writing.
Based in Colorado, Charles Hoskinson remains the Chief Executive Officer of IOHK. His latest efforts revolve around educating people about cryptocurrencies, advocating for decentralization, and making cryptography tools more accessible to the general public.
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