Cardano Founder Labels Ethereum Classic a Scam

Cardano Founder Labels Ethereum Classic a Scam


Cardano co-founder Charles Hoskinson labels Ethereum Classic a scam benefiting “insiders who dump on those they recruit,” while promoting the programmable blockchain Ergo as what ETC should have been doing all along.

Charles Hoskinson, co- founder of the Cardano (ADA) blockchain tech, has labeled the decentralized computing platform Ethereum (ETH) Classic (ETC) a scam that is benefiting “insiders who dump on those they recruit.” Hoskinson argued that “Ergo is what ETC should have been and persists to innovate, has a purpose, good ethical leadership, and financing for the future.”

The POW Summit

Reports by Cardano (ADA) founder Charles Hoskinson, the decentralized computing platform Ethereum (ETH) Classic (ETC) 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.” In his rant against ETC on Twitter platform, Hoskinson, himself one of the co-founders of Ethereum (ETH), likewise slammed what sees as the platform’s lack of a roadmap or vision.

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 blockchain tech Ergo is going to be represented at the following Proof of Work (POW) Summit. Summerwill then attacked Ergo Foundation for ditching “their own 60K follower account to squat on stolen goods from Charles.”

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As stated on its official website, Ergo is stated as “a next-generation PoW smart-contract contract platform that enables new models of financial interaction.” The platform is stated to be underpinned by “a safe and rich scripting language and flexible and powerful Zero-Knowledge proofs (Σ-protocols).”

ETC Is Now ‘Just Anger and Toxicity’

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 Summerwill’s taunts, Hoskinson sought to draw Twitter users’ attention to what Ergo has achieved and how this epitomizes what ETC should have been doing over the years.

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ETC 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. There is no roadmap, innovation, team, or vision. It’s just anger and toxicity. The Twitter account was built up from years of effort and marketing at IOG. It wasn’t ethical to inflict upon those followers a project that is now a scam. Ergo is what ETC should have been and persists to innovate, has a purpose, good ethical leadership, and financing for the future,” Hoskinson stated in his response.

Despite the fact that some followers of Ergo and Hoskinson on Twitter 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 industry’s 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.

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