What is Gavin Woods net worth?
Gavin Woods has a net worth of over $1.1 billion. Gavin Woods was part of the Ethereum team and co-founded the popular cryptocurrency Polkadot.
Wood began his career as a programmer and software consultant, even working for Microsoft for a while. Since then, he has evolved into a serial entrepreneur and inventor in the lucrative cryptocurrency space.
In addition to Vitalik Buterin, Charles Hoskinson, Anthony Di Iorio, and Joseph Lubin, Gavin Wood is a software engineer and computer scientist.
Solidity, a programming language for smart contracts, and Polkadot, a proof-of-stake blockchain, were also created by Wood.
Moreover, Wood founded Web3 Foundation, a non-profit organization dedicated to supporting web 3.0, and Parity Technologies, which provides “Blockchain Infrastructure for the Decentralized Web.”
Known for co-founding Ethereum and Polkadot, Gavin James Wood is a computer scientist and software developer. One of the richest people in the crypto space, Gavin Wood has an estimated net worth of $450 million, and he also created Solidity, the computer language crucial for creating smart contracts on the Ethereum blockchain.
What made Gavin Wood rich?
In the creation and development of Ethereum, Gavin Wood played a pivotal role.
Among his accomplishments are designing the Ethereum protocol, writing the Ethereum Yellow Paper (which outlines the specifications for the Ethereum Virtual Machine), and implementing Ethereum’s first functional implementation.
From his involvement in the early stages of Ethereum, he accumulated a significant portion of his wealth.
Through his technology company, Parity Technologies, Gavin Wood founded Polkadot.
As with Ethereum, Polkadot aims to enable various blockchain networks to operate seamlessly.
Ethereum and Polkadot creation
At first, Gavin was not interested in cryptocurrency, but a mutual acquaintance introduced him to Ethereum co-founder Vitalik Buterin. This led him to create Solidity, a programming language that generates smart contracts.
As the first Chief Technology Officer of the Ethereum Foundation, Gavin left the group in 2016 to pursue other opportunities in the crypto industry.
As of October 2015, he co-founded Parity Technologies, which builds blockchain infrastructure for Web 3.0. He also founded the Web3 Foundation, which is dedicated to decentralized internet technology. Their first project was Polkadot, and he launched Kusama in 2019, a Polkadot early phase experimental application framework.
In Polkadot, developers create their own blockchain that can communicate with other ledgers, creating a system of parachains that uses proof of stake instead of proof of work.
The background
As a kid, Wood was fascinated by game theory and economics. His neighbor Sean introduced him to programming when he got his first computer at the age of nine.
As a graduate of Lancaster Royal Grammar School, he earned a Master of Engineering (MEng) in Computer Systems and Software Engineering from the University of York in 2002.
He worked as a consultant for Microsoft Research before entering the crypto business. He designed and built the majority of the world’s first C++ language workbench.
