Ethereum co-founder Charles Hoskinson promotes blockchain technology
Charles Hoskinson, a co-founder of Ethereum, is on a visit to Mongolia to discuss ways to use the platform to innovate Mongolia’s government and business sectors. As part of his visit, Hoskinson has been participating in several conferences and meeting the cryptocurrency community in Mongolia in addition to meeting government officials such as Minister of Foreign Affairs D.Tsogtbaatar.
Ethereum is an open-source, public, blockchain-based distributed computing platform which hosts Ether, the second most popular cryptocurrency in the world. Ether refers to programmable tokens that are used as currency on the Ethereum platform. Hoskinson was a part of the original Ethereum founding team but departed from the company after a dispute with Vitalik Buterin, one of the main co-founders, on the direction of the platform.
Hoskinson went on to found IOHK, the company behind Cardano, a blockchain and smart contract platform and cryptocurrency. Hoskinson’s crypto net worth is estimated to be around 500 million USD, as he is also a co-founder of BitShares and Ethereum Classic, Cardano has been devoted to building blockchain pilots in many developing countries. The Cardano platform is designed to run “smart” contracts, decentralized applications, side chains, multiparty computation, and metadata.
In May of 2018, Cardano reportedly signed a memorandum of understanding with the Ethiopian Ministry of Science and Technology to train a new generation of blockchain developers in the country. According to Hoskinson, the first group of Ethiopian blockchain developers is expected to graduate by the end of the year.
While platforms such as Ethereum and Cardano and cryptocurrencies such as Bitcoin all operate on the basis of a distributed public blockchain network, they are not to be confused with one another. Bitcoin is exclusively a peer to peer electronic cash system. The blockchain used by Bitcoin is used to track ownership or exchange of bitcoins, the Ethereum and Cardano blockchain focuses on running the programming code of any decentralized application. As such, Cardano and Ethereum are vastly different from Bitcoin in terms of purpose, scale, and capability.