Cardano CEO (ADA) Charles Hoskinson says he did not expect Ethereum to flourish after his departure
During a recent discussion with Mpho Dagada, Charles Hoskinson, who founded Cardano, in addition to being the co-founder of Ethereum, stated that he did not think Ethereum would be successful after leaving the team. Charles was asked to state the reasons why he decided to expand from Ethereum, leaving the project incomplete.
Absence of a strict structure
According to Charles, he had to leave Ethereum because of the absence of a rigorous structure as well as moderation. These, he believes, are the recipe for a lot of clemency. For example, if people are paid completely upfront, you can not expect them to work really hard.
They might even decide not to show up for work. But in a case where staff is paid after work, they will be motivated to do the job.
Before making the above statements, Charles Hoskinson had stated that at the beginning the Ethereum Foundation was divided into two separate groups, of which one is the corporate group and the other the technical group. So, once again, the teams had to make critical decisions about how to establish the project. In this regard, they had two options, to be a for-profit company like Ripple, or to be a non-profit corporation.
Lack of appropriate structures
This caused anguish between both parties, with business preferring the for-profit, while the technological side opted for the non-profit. The main concern for Charles Hoskinson was the fact that the system did not have an appropriate configuration. This had the potential to lead to a fire of the entire investment even before the presentation of the product.
The same had the opportunity to provoke so many challenges.
Eventually, Ethereum's Co -Founder, Vitalik Buterin, made his decision and announced that Ethereum would be a non-profit corporation. Charles said he was discouraged that he would not have had great experiences with BitShares and Ethereum.
After leaving Ethereum, Charles had no idea what to do. He did not know if he would have to resume the cryptographic space or do something else.
During a TedTalk later, Charles revealed that there is something he learned that helped him understand that there was still something more for him to accomplish in the encrypted space. At that point, Charles claimed to have realized he still had something in him. He knew that there was still another risk, and if he was going to do it, then it had to be done his way.
The company had to be one hundred percent its philosophy. What followed was Charles who started a Hong Kong Input Output with Jeremy Wood. He had previously worked with Jeremy at the Ethereum. They decided to look for a contract in Japan, which eventually led to the birth of Cardano. Only by the two of them, the company expanded into sixteen countries, with over 160 employees.