Cardano founder Charles Hoskinson criticized the Ethereum Classic (ETC) cryptocurrency in comments on the announcement of the Proof-of-Work Summit 2023 event.
ETC is now a scam and it’s only purpose is for insiders to dump on those they recruit with blind hope of some magical future that will never come. There is no roadmap, innovation, team, or vision. It’s just anger and toxicity. The Twitter account was built up from years of effort…
— Charles Hoskinson (@IOHK_Charles) May 19, 2023
“ETC is now a scam with a single purpose – for insiders who dump on those who are recruited with the blind hope of some magical future that will never come,” Hoskinson wrote.
According to him, Ethereum Classic “has no roadmap, innovation, team or vision.”
“Only anger and toxicity. The Twitter account was created through years of work and marketing at IOG. It was unethical to impose on these subscribers a project that is now a scam. Ergo is what ETC was supposed to be and continue to evolve, have a purpose, good ethical leadership and funding for the future,” explained the founder of Cardano.
At the time of writing, Ethereum Classic is trading at $18 and is in the top 30 cryptocurrencies by capitalization with $2.5 billion, according to CoinGecko.
Recall that in September 2022, Hoskinson criticized Ethereum Classic for the unrealized potential of the project.
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