Charles Hoskinson, co- founder of the Cardanoย (ADA) blockchainย tech, has labeled the decentralized computing platform Ethereumย (ETH) Classic (ETC) a scam that is benefiting โinsiders who dump on those they recruit.โ Hoskinson arguedย that โErgo is what ETC should have been and persistsย to innovate, has a purpose, good ethical leadership, and financing for the future.โ
The POW Summit
Reportsย by Cardanoย (ADA) founder Charles Hoskinson, the decentralized computing platform Ethereumย (ETH) Classic (ETC) is now a scam and โits only purpose is for insiders to dump on those they recruit with blind hope of some magical future that will never come.โ In his rant against ETC onย Twitterย platform, Hoskinson, himself one of the co-founders of Ethereumย (ETH), likewise slammed what sees as the platformโs lack of a roadmap or vision.
The 1st annual Proof-of-Work Summit will be held in #Prague on Sept 25-27 presented by the @LTCFoundation & $ETC Cooperative.
Join us for an in-depth look at theย present state, opportunities, and future of #POW.
โ POWSummit (@PowSummit) May 18, 2023
The remarks by Hoskinson were an apparent response to Bob Summerwill, the executive director at ETC Cooperative. In his tweet on May 18, Summerwill seemingly took umbrage at two Twitter users for mentioning or asking if the programmable blockchainย tech Ergo is going to be represented at theย following Proof of Work (POW) Summit. Summerwill then attacked Ergo Foundation for ditching โtheir own 60K follower account to squat on stolen goods from Charles.โ
As stated on its official website, Ergo is stated as โa next-generation PoW smart-contract contract platform that enables new models of financial interaction.โ The platform is stated to be underpinned by โa safe and rich scripting language and flexible and powerful Zero-Knowledge proofs (ฮฃ-protocols).โ
ETC Is Now โJust Anger and Toxicityโ
In subsequent tweets, the ETC Cooperative executive director likewise doubled down on his belief that Ergo was not only handed stolen property by Hoskinson but was likewise complicit in hurting the ETC community.
Nonetheless, in his response to Summerwillโs taunts, Hoskinson sought to draw Twitter usersโ attention to what Ergo has achieved and how this epitomizes what ETC should have been doing over the years.
โETC is now a scam and its only purpose is for insiders to dump on those they recruit with blind hope of some magical future that will never come. Thereย is no roadmap, innovation, team, or vision. Itโs just anger and toxicity. The Twitter account was built up from years of effort and marketing at IOG. It wasnโt ethical to inflict upon those followers a project that is now a scam. Ergo is what ETC should have been and persistsย to innovate, has a purpose, good ethical leadership, and financing for the future,โ Hoskinson stated in his response.
Despiteย theย factย that some followers of Ergo and Hoskinson onย Twitterย platform have bemoaned the absence of Ergo from the event that will run from Sept. 25-27, an official website for the summit shows that the meeting will still be graced by the cryptocurrency industryโs largest names. Several of the high-profile individuals that are expected to speak at the summit include Charlie Shrem, Jameson Lopp, Litecoin founder Charlie Lee, and Caitlin Long of Custodia Bank.
