Cardano CEO Charles Hoskinson Distances Himself From His Ethereum Past

Cardano CEO Charles Hoskinson Distances Himself From His Ethereum Past

By Crypto Alphabet | Alphabet News | 13 Jun 2020


Charles Hoskinson, CEO of Cardano and IOHK, has distanced himself from Ethereum, as seen in a recent Twitter post.

Hoskinson was involved in Ethereum until June 2014. He left over differences in the blockchain's business model, according to a 2018 interview with Forbes magazine:

"It was a boardroom brawl," he says. Hoskinson wanted to accept venture capital and create a for-profit entity with a more formal governing structure. Buterin wanted to keep Ethereum a nonprofit organization with an open-source, decentralized governance. Hoskinson left Ethereum in June 2014.

Hoskinson also criticized Ethereum's progress and Vitalik Buterin's leadership earlier this year in a CoinTelegraph interview.

The division between Ethereum and Cardano is an important one. Both are planning to introduce "proof-of-stake" rewards with subtle but important differences that could affect the success of each project.

Right now, Cardano is clearly in the lead in terms of progress. Its first public testnet went live on June 9, and in the near future Cardano will introduce general staking rewards for all users.

Though Hoskinson is highly critical of Ethereum, he and IOHK remain involved in Ethereum Classic, according to the project website.


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