Co-founder of Ethereum and CEO of IOHK, Charles Hoskinson, has discussed the exponential growth of bitcoin (BTC) and the genesis of the ethereum (ETH) project, in a recent interview with Mpho Dagada.
Hoskinson, whose tech company is responsible for the creation of Cardano (ADA) and Ethereum Classic (ETC), revealed that his early involvement in cryptocurrencies dates back to 2011 when bitcoin was just worth about $1. His first engagement started from mining the dominant cryptocurrency. Hoskinson made up his mind to be actively involved in the sector when the value of each coin hit heights of $250 in 2013; about 250 times its previous price.
First Meeting with Vitalik Buterin
Hoskinson would meet Vitalik sometime later, but before then, he revealed that he was approached in the first instance by a Chinese entrepreneur to create a stablecoin for $500,000 in funding. Hoskinson rejected the offer due to different reasons, where the absence of any stable coin (like Tether), was chiefly part of the reasons.
Dan Larimer, the creator of BitShares, would meet up with Hoskinson later on to discuss the creation of the first decentralized cryptocurrency exchange platform; Although, he would leave the company not long after, following differences between himself and Larimer. The real story began for him when after leaving Larimer, he came across Anthony Di Iorio and Vitalik Buterin to create Ethereum. He told Dagada:
“[Anthony told me] There’s this kid called Vitalik, at that time he was 19, and he’s written this great white paper. I can’t really make heads or tails of it. Can you read it? Let me know what you think. And I said sure, Anthony. So I read the paper, was very rough but I said, there’s something here, and that’s how I met Vitalik Buterin.”
A lot more positives would occur in early 2014, at the North American Bitcoin Conference where Hoskinson would meet the Lubrin and Gavin Wood who are also part of the founding members of Ethereum.
Hoskinson would add jokingly how a lot of the big guys now were not as influential as of then. He said:
“The North American Bitcoin conference in January 2014. So Anthony rented a beach house, we all bought her own way. There we met everybody, Joseph Lubin, Gavin Wood came, a lot of the big guys now who were not so big guys back then came and that was really the birth of a Ethereum.”
The cryptocurrency sector has evolved and grown so exponentially since then, with the bitcoin even reaching a maximum high of $19500. Ethereum too has not been left behind, with their blockchain platform becoming vital to many startups now and paving the way for the vast implementation of a decentralized computing system.