Charles Hoskinson talks about ETC, says it has ‘no purpose’


  • Ethereum Classic, according to Cardano founder Charles Hoskinson, is “a dead project with no purpose or convincing rationale to persist outside of spite.”
  • Hoskinson refuted allegations that he attempted to take advantage of ETC miners in this manner.
  • Just last week, the price of the “forked” version of Ethereum increased by 30%, and during the preceding two months, starting in July, it virtually doubled.

A few days in the cryptocurrency industry go by without Charles Hoskinson, the founder, and CEO of Cardano has landed himself in yet another dispute with the others in the crypto industry. Hoskinson made some vehement statements about the entire Ethereum Classic project in reaction to claims of a miner fee for ETC miners.

The crypto enthusiast, who most recently served as a board member of the ETC Cooperative, claimed that Ethereum Classic could have been used to create a sustainable development fund instead of what some people regarded as a tax. The Cardano chief continued by declaring that Ethereum Classic is no longer alive and has no reason to exist and that he was saddened by what had occurred to the project as a result.

Hoskinson responded in this way to claims that he sought to take advantage of ETC miners. After Hoskinson proposed a 20% miner tax, an Ethereum Classic fan on Twitter said that he was trying to take advantage of the network.

Hoskinson recently suggested establishing a decentralized treasury protocol and an ETC development fund. According to the idea, a percentage of ETC block rewards would be given to the decentralized treasury protocol.

This notion was rejected by ETC miners since it reduced their payouts. The Cardano founder did not miss the opportunity to clarify matters and took a jab at ETC after a user brought up the concept in criticism of Hoskinson.

“A sustainable development fund” was taken to signify “a miner tax,” according to Hoskinson, who also stated that “ETC still makes me sad for what may have become.”

Given that Hoskinson has a history of attacking other blockchain networks, his opinion of ETC is not altogether unexpected. Previously, the creator of Cardano compared Solana (SOL) to a vintage Nintendo system.

Charles Hoskinson claims that Ethereum Classic is dead, although ETC quotations are still the most active on this slumping cryptocurrency market. The price of the “forked” version of Ethereum jumped by 30% just last week, and it nearly doubled over the previous two months, beginning in July.