When bitcoin value
was just at $1, the co-founder of ethereum and cardano, Charles Hoskinson just started to enter the blockchain space. Since then, the infrastructure of the entire cryptocurrency market and the blockchain system has undergone earth-shaking changes, and the value has grown exponentially.
Hoskinson, CEO of IOHK, a technology company that led the development of cardano and ethereum classic, said that he was first involved in cryptocurrency business by mining bitcoin in 2011, when bitcoin stock price
was less than 1. But after two years, the price of bitcoin skyrocketed from $1 to $250, when Hoskinson realized that it was an industry with unlimited potential.
Just entering the industry, Hoskinson came into contact with a Chinese entrepreneur interested in cryptocurrency. He hopes to invest $500,000 for Hoskinson to create a stable digital currency. At that time, there was no tether coin
, and investors needed a stable currency against the US dollar to hedge the value of the cryptocurrency.
Unfortunately, Hoskinson did not realize the value of the stable currency, and he rejected the proposal. Although he lost a huge opportunity, but also gave him a greater opportunity, he met Vitalik (V God) and created eth coin
At that time, someone told Hoskinson that a 19-year-old Russian teenager was writing a white paper, and he hoped that he would read it. It was also the opportunity for him to meet Vitalic.
At the North American bitcoin meeting in January 2014, Hoskinson and other founding members of ethereum, including Vitalic, Dijorio, Joseph Lubin and Gavinwood, formally met and announced the joint development and release ethereum.
Ethereum is an open source public blockchain platform with intelligent contract functions, which has epoch-making significance in the field of blockchain technology. It handles peer-to-peer contracts with its decentralized virtual machine through its dedicated cryptocurrency ether.
Since 2014, cryptocurrency has gradually improved the market infrastructure, blockchain systems and scalability have been improved, ethereum’s release paved the way for distributed applications (DApps) and distributed computing systems.
Even today’s controversial first-time coin issue (ICO) was first launched by Ethereum, initially to make it easier to raise funds for blockchain projects. The EOS (Enterprise Operation System, a blockchain operating system designed for commercial distributed applications) is a record, raising more than $4 billion to become an ICO project destined to go down in history.
Great progress has been made in many areas, making Bitcoin’s family a record high, reaching $19,500 in December 2017. Although Bitcoin has been maintained at $6,500 today, the rate of return on Bitcoin is 6,500 times if viewed from 2011.
At the same time, large-scale financial institutions such as Citigroup, Morgan Stanley and Goldman Sachs have begun to work on cryptocurrencies, and investment companies and investment institutions are also increasingly interested in virtual currency.