Charles Hoskinson, the 34-year-old co-founder of Ethereum and founder of Cardano, is one of those rare crypto leaders actively working to help the cryptocurrency community.
In this article, we wanted to examine him, his work on Cardano, and how he constantly shares his opinions with the public, all to bring crypto closer to the masses.
Who Is Charles Hoskinson?
Charles Hoskinson is an entrepreneur and founder of Cardano, one of the world’s top 10 cryptocurrency platforms. He is also the co-founder of Input Output Global (IOHK), a company in the blockchain engineering space that creates high-assurance blockchain-based infrastructure solutions.
Moreover, Charles is one of the five Ethereum founders who joined Vitalik Buterin’s team in 2013. He acted as the company’s CEO until 2014, when Buterin decided to remove him as the two held opposing views of what Ethereum should be. Buterin wanted to keep the project a nonprofit, while Hoskinson thought it should move into the commercial waters.
Charles Hoskinson went on to create IOHK with a former Ethereum colleague, and the company eventually developed Cardano, one of the world’s biggest cryptocurrencies.
Besides leading IOHK and Cardano, he is now mainly working on educating the masses about cryptocurrency and its benefits. He is a big proponent of decentralization and wants to help cryptographic tools become more accessible to everyday people.
Benefits of Cardano (ADA)
Charles Hoskinson created Cardano with the goal of it being a platform for innovators, changemakers, and visionaries. Cardano is a proof-of-stake blockchain platform that aims to help the masses and make society more transparent, secure, and fair, all in line with what Hoskinson believes.
The name Cardano comes from a 16th-century polymath called Gerolamo Cardano. The name of the native Cardano cryptocurrency, ADA, comes from 19th-century mathematician Ada Lovelace, one of the first computer programmers.
The Cardano platform is one of the few blockchains that use the proof-of-stake consensus mechanism that requires much less energy than Bitcoin’s proof-of-work. It also prides itself on supporting technologies that go through a rigorous process of peer-review research, a view Hoskinson, a mathematician, also highly values. This makes Cardano stable and durable — a necessary trait for cryptocurrencies.
Cardano is also highly versatile, quite evident from the fact that it now supports the creation of NFTs and smart contracts.
Hoskinson in the Crypto Community
Charles Hoskinson is known for his efforts to help the crypto community improve, teaching beginners the benefits of blockchain and crypto and a lot more.
His defense of decentralization as a concept and his ADA cryptocurrency is evident. He recently spoke against Michael Saylor, the MicroStrategy CEO, who stated that ADA is a security, unlike Bitcoin, which is a commodity.
Hoskinson argued that Cardano is not just more decentralized than Bitcoin, but it also has a lot more uses than BTC in the real world. He asserted that ADA is wholly decentralized and that people don’t use the token for pure speculation, as is often the case with BTC.
Besides defending proof-of-stake and his cryptocurrency, he defends blockchain use in the real world. He recently testified to Congress to adequately explain blockchain and its benefits to the world.
Moreover, he explained the importance of updated regulatory frameworks that would further improve blockchain technology’s place in the eyes of the law.
Hoskinson didn’t just defend his own project but other startups and how their blockchain-based technologies improve the audibility and transparency of entire industries.
These are certainly good examples of what crypto leaders should do for the community. Thankfully, he is not the only one. Many other companies and individuals work on educating the masses about the benefits of blockchain and crypto.
A good example is Blueshift, a portfolio-based asset management protocol powered by Cardano. Blueshift is not just based on Hoskinson’s platform, but it’s a company that shares his views on the importance of educating beginners. The company constantly strives to improve people’s knowledge of crypto as it knows how vital blockchain technology is and how it needs to be more accessible to regular users.
What’s more, the founder of Blueshift, Igor Mikhalev, met and worked with Hoskonsin, which eventually led him to base his protocol on Cardano. It shows how Hoskinson’s work can significantly impact others and inspire them to create new technological solutions.
Charles Hoskinson is undoubtedly a fascinating individual in the crypto community. His work, most notably the Cardano platform, has helped many, but his efforts to educate the masses about crypto, blockchain, and decentralization, should not go unnoticed.
We need people and organizations like that. Through them, cryptocurrency will continue to improve its place in the world, and further enter the mainstream where it can do the most good.
PrivaCrip to Power a Blockchain Network That Could Follow Cardano & XRP
When the first decentralised blockchain was popularised in 2008 by Satoshi Nakamoto, the door was open for people across the globe to transact more securely and seamlessly. Many blockchain networks have been built and powered by native crypto tokens, including PrivaCrip (PRCR).
Native tokens exist for several reasons. Aside from acting as digital currencies, they perform various functions. Helping blockchains improve data traceability, security, transparency, and trustworthiness shared throughout the network. They also assist in reducing costs through their ever-evolving efficient methods.
Cardano (ADA) and Ripple (XRP) are among the best blockchain-based cryptos that this article will discuss. We will also look at how PrivaCrip (PRCR) will power a blockchain network set to launch into the crypto space.
Top Tier Crypto Makes its Mark – Cardano (ADA)
Cardano (ADA) has been around in the crypto space since 2017. The Proof-of-Stake (PoS), Ouroborous Cardano (ADA), was established using a research-based methodology.
Research is the backbone of Cardano (ADA) and is integral to its success in the cryptocurrency market. Cardano (ADA) uses an evidence-driven mechanism and peer-reviewed research to run its ecosystem to drive its evolution.
Among many things, Cardano (ADA) helps establish DeFi products and provides a suite of financial solutions. Crypto enthusiasts can stake Cardano (ADA) for a chance to earn rewards for their holdings.
With 2022 providing challenges in cryptocurrencies across the globe, Cardano (ADA) is one of the few cryptos to see a surge in on-chain trading volume this year. CoinMarketCap lists Cardano (ADA) as the 7th largest crypto by market capitalization at the time of writing.
Making Waves – Ripple (XRP)
Launched in 2012, Ripple (XRP) is a leading provider of crypto solutions for businesses. Ripple (XRP) provides developers with a solid open-source foundation for executing demanding projects. It is fast, energy-efficient, cost-effective, and reliable.
The solutions provided by Ripple (XRP) enable developers to solve inefficiencies, including asset tokenization and remittance. Therefore, individuals and businesses may apply Ripple (XRP) for DeFi, payments, tokenization, and more.
Crypto enthusiasts with a long-term focus may find Ripple (XRP) a valuable investing tool. Token holders can use Ripple (XRP) for staking its mainnet platform for a chance to grow their earnings and maximise profit.
The New Face Of Privacy – PrivaCrip (PRCR)
The soon-to-launch PrivaCrip (PRCR) is a cryptocurrency built for Web3 data privacy. It will allow users to develop and use permissionless and privacy-preserving applications. This unique feature of PrivaCrip (PRCR) secures apps, protects users, and fosters the creation of many new Web3 uses.
PrivaCrip (PRCR) will drive a blockchain that creates a more empowering and inclusive internet. It will enable developers to build secure dApps using private contracts based on original privacy research (OPR) to revolutionise Web3.
PrivaCrip (PRCR) will begin pre-sale soon and has an initial token price of 0.10 USD. According to the whitepaper, there will be a total supply of 190 million tokens, of which 40% of the total supply will go to the pre-sale.
Crypto enthusiasts who purchase PrivaCrip (PRCR) during the pre-sale will receive the most significant long-term rewards and bonuses. Those who buy with Bitcoin (BTC) will receive a 10% bonus. Also, those using Ethereum (ETH) to purchase will receive 15% of the total PrivaCrip (PRCR) they purchase as a bonus.
10% of PrivaCrip’s (PRCR) total supply is up for distribution as staking rewards, meaning that token holders who stake will receive rewards for their contribution to the crypto’s advancement.
Blockchain networks are continuously evolving, and so are the crypto tokens that power them. Cardano (ADA) and Ripple (XRP) have contributed tremendously to the success of their blockchain networks, gathering mass appeal.
PrivaCrip (PRCR), for its part, will drive a security-enabled blockchain and scalability in private DeFi, empower data tokenization, and bring together a fast-growing community. Acting on its promise, it has the potential to become the next big mover in cryptocurrency.
For more on PrivaCrip (PRCR), check below:
Cardano (ADA) Withdrawal Fees Waved by Bitrue Exchange
Singapore-based cryptocurrency exchange made Cardano one of its base trading pairs earlier this year
Singapore-based cryptocurrency exchange Bitrue announced that it had temporarily waived withdrawal fees for the Cardano (ADA) cryptocurrency.
The trading platform says that the move is meant to celebrate the support it received from the community behind the cryptocurrency.
Users will be able to withdraw ADA without paying any fees until mid-September.
Bitrue has stressed that it wants users to have “as much choice as possible” when it comes to custody options. Those who want to hold their ADA tokens will not be able to do so without paying an additional commission.
At the same time, Bitrue has touted its “Power Piggy” yield-farm investment program for those who want to earn passive income with ADA.
As reported by U.Today, Bitrue introduced the token as its base currency back in February.
In June 2021, it also became the first cryptocurrency trading platform to add support for Cardano-based native tokens.
Last month, Bitrue also announced a staking initiative with the ADA cryptocurrency. It decided to contribute a million tokens to some of the top Cardano staking pools in an effort to boost the level of decentralization.
Earlier this year, SundaeSwap (SUNDAE), the native token of the SundaeSwap exchange, also became available on Bitrue.
WingRiders Losses 59% Of Its Total Value Locked, Plunges Cardano TVL Below $100M
Popular Cardano-based decentralized exchange WingRiders has lost its position as the most valuable DEX on Cardano.
WingRiders slumped from the first position to third after losing more than 59% of the total value locked (TVL) on the platform in the past 30 days.
At the time of writing this line, WingRiders is now the third-largest DEX by total value locked, with a TVL of $19.66 million. It is noteworthy that WingRiders maintained the top spot for more than two months, claiming 42% of TVL On Cardano. However, the DEX has fallen from glory ever since.
Minswap Is Now Cardano’s Most Valuable DEX
The development also affected the total value locked on Cardano. The total value locked on Cardano has fallen below $100 million in the last 30 days after the WingRiders TVL slumped.
Interestingly, Minswap has taken the lead to become the most valuable decentralized exchange on Cardano after the massive decline of WingRiders’ TVL.
At press time, Minswap is leading, with a $49.09 million total value locked on the platform. The DEX hit the milestone after recording a massive growth of 30.9% in its TVL in the past 30 days. Minswap accounts for 51.82% of the total value locked on Cardano.
SundaeSwap, the first decentralized exchange on Cardano, is now the second most valuable DEX in the ecosystem. SundaeSwap is second in the ranking, with $19.72 million in TVL.
Like WingRiders, SundaeSwap has also lost a significant amount of its TVL over the past 30 days. In the past month, SundaeSwap has lost nearly 10% of the funds locked on the platform.
Commenting on the development, Cardano Daily, a platform that shares new developments about Cardano, said:
“After the major decline of @wingriderscom, the TVL scenario of the Cardano ecosystem has stabilized back to normal as we have seen in the past few weeks. @MinswapDEX still led the ecosystem with $51M TVL, contributing 50% of the ecosystem.”
CARDANO TVL STATUS
After the major decline of @wingriderscom, the TVL scenario of the @Cardano ecosystem has stabilized back to normal as we have seen in the past few weeks. @MinswapDEX still led the ecosystem with $51M TVL, contributing 50% of the ecosystem#tvl #cardano $ADA pic.twitter.com/xjZ6cHo8jX
— Cardano Daily (@cardano_daily) August 9, 2022
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