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Whether Hoskinson will make good on his promise this time is anyoneвЂ™s guess. More than once, Hoskinson has touted a smart contract launch вЂ“ only to kick the can further down the road. While this milestone is loudly trumpeted by Cardano and its supporters, its delayed implementation has made the project the butt of many jokes.

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The upcoming Alonzo upgrade will finally bring smart contract functionality to Cardano, enabling defi applications to be deployed on it for the first time. Not only is its native asset, ADA, the fifth biggest cryptocurrency by market cap, but the platform supports almost 7,000 assets following its Mary hard fork. In the four years since its release, Cardano has established itself as a major player. In any case, HoskinsonвЂ™s departure led him to found Cardano, an open-source, proof-of-stake platform launched in 2017. вЂLeaving under a cloudвЂ™ would be putting it mildly вЂ“ Joseph Lubin referred to Hoskinson as a pathological liar, prone to telling people he was Satoshi Nakamoto, the shadowy figure who created Bitcoin. HoskinsonвЂ™s desire to make Ethereum a commercial (rather than nonprofit) enterprise ultimately caused a schism that led to his withdrawal. Despite their influential roles in the projectвЂ™s formative years, both have since departed to found alternative blockchain platforms. Polkadot and Cardano: Upstart Challengers or Ethereum Killers?Д¬harles Hoskinson was once the CEO of Ethereum Gavin Wood, meanwhile, wrote the technical specification of ButerinвЂ™s whitepaper and pioneered its programming language Solidity. ConsenSys has also partnered with ChinaвЂ™s Blockchain-based Service Network to accelerate the enterprise adoption of Ethereum apps in the region. Much of the platformвЂ™s recent-years success can be traced back to Lubin, whose Ethereum-focused startup studio ConsenSys raised $65 million in funding from the likes of UBS and Mastercard back in April.

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HeвЂ™s also been able to rely on the counsel of co-founder Joseph Lubin, a serial investor and seasoned tech developer who has brought commercial partners (JPMorgan, BNY Mellon, Credit Suisse) and developer talent into EthereumвЂ™s orbit. Internal team conflicts, of course, led to the departures of the aforementioned co-founders Wood and Hoskinson, both of whom started blockchains of their own.Д«uterin has been ably assisted by a small army of Ethereum developers вЂ“ around 2,300 per month according to Electric CapitalвЂ™s latest Developer Report. Interestingly, he cited вЂњinternal team conflictsвЂќ as an explanation for the sluggish transition rather than technical difficulties. Last month, while appearing at Hong KongвЂ™s Startmeup HK Festival, Buterin emphasized the importance of such upgrades: вЂњOnce you have rollups and sharding, Ethereum and things on top of Ethereum will actually be able to have the kind of scalability that the large scale enterprise applications are expecting.вЂќД«uterin also conceded that building EthereumвЂ™s successor had taken much longer than anticipated. Improvements overseen by Buterin also include stability features such as rollups and sharding, which are intended to vastly improve EthereumвЂ™s scalability. вЂњWe go from consuming the same energy as a medium-sized country to consuming the same energy as a village,вЂќ he says. Boasting a Twitter following of 2.2 million, the 27-year-old author of the Ethereum whitepaper often appears at conferences to discuss the future direction of the network, and heвЂ™s hard at work on Ethereum 2.0, its vaunted proof-of-stake overhaul.Д«y transitioning away from proof-of-work, the energy-intensive consensus mechanism favored by Bitcoin, Buterin believes Ethereum will reduce its energy consumption by between 1,000 and 10,000x. Russian-Canadian computer programmer Buterin remains EthereumвЂ™s figurehead, the name and face of the platform for all intents and purposes. And specifically on the four figures who remain involved in blockchain on a day-to-day basis: Vitalik Buterin, Joseph Lubin, Gavin Wood, and Charles Hoskinson. Its native cryptocurrency ETH, meanwhile, is the second-largest digital asset by market cap.Д®thereumвЂ™s major London upgrade вЂ“ which slashes the supply of new tokens hitting the market by a third вЂ“ seems like as good a time as any to focus on the co-founders whose ideologies and aspirations took them in different directions. Today, the smart contract platform has made good on many of its goals, facilitating value transfer on an eye-watering scale.

With Ethereum, the enterprising octad sought to overcome BitcoinвЂ™s limitations by creating a community-driven, open-source project capable of supporting decentralized applications (dApps). Seven years ago, eight brainiacs with diverse talents and lofty ambitions broke bread in Zug, Switzerland, and hashed out the future of what would become the worldвЂ™s busiest blockchain.