Cryptocurrency News

Ethereum co-founder and chief executive Charles Hoskinson said the cryptocurrency market will grow after bitcoin alternatives that lack substances has failed.

Charles Hoskinson told to CNBC that:

“My personal opinion is that we’re going to see a consolidation after a crash.”

Hoskinson now runs blockchain research firm IOHK, but was previously in charge of Ethereum, which develops the underlying technology for the cryptocurrency Ether (also known as Ethereum).

A number of altcoins — including Cardano, a cryptocurrency managed by Hoskinson’s company — have surged largely in recent weeks as investors look beyond the most leading cryptocurrency bitcoin. Ripple’s XRP, for instance, temporarily overtook ether as the second-largest cryptocurrency in December.

Blockchain, the technology which is backed up with cryptocurrencies, records all transactions of a digital currency on a separated network instead of one centralized server.

Hoskinson increased concern about “unrealistic” cryptocurrency projects entering the place.