From BitShares to his central role during the inception of Ethereum Charles Hoskinson has continually influenced key projects in the blockchain and cryptocurrency space. After departing the Ethereum project in 2014, he has recently stepped back into the limelight by pledging support and resources to turn the fledgling Ethereum fork ETC into a viable project.
Charles joined Epicenter Bitcoin together with Alex Chepurnoy, a developer at his company IOHK. Besides Ethereum Classic, we talked about IOHK and Scorex, IOHK’s modular blockchain framework project that Alex Chepurnoy has been leading.
Topics covered included:
– The vision and activities of IOHK
– Scorex: A Modular Blockchain Framework
– Conflicts of vision that lead to Charles’ departure as original CEO of Ethereum in 2014
– Why the hard fork broken Ethereum’s social contract
– Why ETC should differentiate and find its own path
– The role governance could play in ETC’s future
Links mentioned in this episode:
– IOHK Scorex https://github.com/input-output-hk/Scorex
– IOHK – Input Output Hong Kong Website https://iohk.io
– Charles Hoskinson: Hoskus Parvum Opus: A Brief Sojourn Back to Ethereum https://steemit.com/dao/@charleshosk/hoskus-parvum-opus-a-brief-sojourn-back-to-ethereum
– Ethereum Classic: keep censorship-resistant Ethereum going https://medium.com/@bit_novosti/ethereum-classic-keep-censorship-resistant-ethereum-going-9caab2d0e255#.80946gpae
– ETC Declaration of Independence https://ethereumclassic.github.io/assets/ETC_Declaration_of_Independence.pdf
– Let’s Talk Bitcoin #304 Immutability vs Consensus Debate https://letstalkbitcoin.com/blog/post/lets-talk-bitcoin-live-10-1130am-pacific-august-4th-immutability-vs-consensus
Ethereum is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of downtime, censorship, fraud or third party interference. In many ways Ethereum is how the internet was supposed to be. Free, open and uncensored. In some aspects it’s design is very similar to Bitcoin. Miners hash blocks of transactions and are rewarded in newly created Ether (ETH). On the other hand Ethereum is vastly different. That’s because Ethereum and it’s technology is a decentralized app platform for which money is merely one of the possible applications.
Ethereum Classic is the remaining blockchain of Ethereum (ETH) after the hard fork event in July 2016. Where a hacker found a loophole in the smart contract called TheDAO. TheDAO is a Decentralized Autonomous Organization that gathered up around 150 Million USD in Ether from investors. Due to a large amount of funds stolen the Ethereum foundation decided to hard fork ETH. Concerns were raised but the hard fork vote was final. That’s when people with strong believes in immutability and against censorship decided to continue working on the old project, even if million of dollars of ETC was in circulation from TheDAO hack. To some, code is law.