ETH co-creator contributed 1 USD to Bitcoin in 2011: what changed?

ETH co-creator contributed 1 USD to Bitcoin in 2011: what changed?
Sep 17, 2018 by Rico Wise

Recently, Charles Hoskinson gave an interview, where he told that the first time he interacted with the sector of digital currency was when he mined BTC back in 2011, while the currently world’s most dominant digital currency was worth merely over 1 US dollar. When BTC value spiked to 250 USD per coin in 2013, Hoskinson has made a decision to take part in the sector, with desire to manage large projects.

Hoskinson was initially contacted by an entrepreneur from China, who intended to launch a stablecoin for 500,000 USD in funding. Tether did not exist at the time, with no other stablecoins in the markets for financiers to use for hedging the value of digital currencies to the value of USD.

Hoskinson refused the offer to take part in the development of the world’s first decentralized cryptoexchange network. Nevertheless, he did not stay in the firm because of differences between himself and the creator of the project, which led him to acquaintance with Anthony Di Iorio and Vitalik Buterin to bring Ethereum to the world.

Since 2014, when Ethereum was launched, the sector of digital currency has displayed some substantial advancement in terms of infrastructure, blockchain-based systems, and scaling matters. Ethereum has contributed to the launch of dApps and world’s first decentralized computing system.

Thanks to Ethereum, the cryptocommunity has also been introduced to the market of initial coin offerings, which allows blockchain startups to accumulate unbelievable amounts of funds to design and successfully deploy countless blockchain protocols.

Subsequently to the success of Ethereum, Hoskinson went on to launch Cardano, the world’s first PoS blockchain protocol, created exclusively for the purpose of managing the decentralized applications and transactions with two separate layers for scalability maximization.