What is Input-Output Hong Kong (IOHK)?
Let's find out Input-Output Hong Kong (IOHK) meaning, definition in crypto, what is Input-Output Hong Kong (IOHK), and all other detailed facts.
Input-Output Hong Kong (IOHK), now referred to as Input-Output Global, is an engineering and research company that deals in software development. Its main purpose is to help companies create digital infrastructures and systems that are based on blockchain technology.
IOHK provides services for anyone who wants to implement distributed ledgers or cryptocurrencies into their organization. Their main clients are government agencies, educational institutions, and businesses.
Charles Hoskinson and Jeremy Wood, the same men who were part of the developer team behind Ethereum, co-founded IOHK. The company began its work in 2015 and currently has over 400 employees from around the world. IOHK prides itself on its culturally diverse and skilled teams working at the company.
Developers at IOHK believe that blockchains and cryptocurrencies can and should be used by everyone. Therefore, their projects and tools are open source.
IOHK team built their own blockchain platform called Cardano. However, most of the credit for developing this cryptocurrency goes to Charles Hoskinson.
In essence, Cardano is a platform based on layered blockchain technology that provides a foundation for anyone who wants to utilize their research and engineering capabilities to bring forward innovation. Cardano offers a variety of tools and programs to make the process easier. It’s also easy to scale due to the technology behind it.
Cardano is considered to be a part of third-generation cryptocurrencies since it offers solutions that are greater than the previous protocols. The team of developers behind Cardano took great care to build the platform in accordance with the standards of the academic and commercial software development fields.
What makes Cardano stand out from other platforms is that it was developed by applying a research and science first approach.
One of the key properties of this platform is that it’s able to evolve along a consensus achieved by a democratic governance system.
Additionally, the treasury system implemented within Cardano allows funding the platform in sustainable ways. This allows the company to take big steps forward when it comes to bettering the platform.