Charles Hoskinson, a co-founder of Cardano, has taken to Twitter to call Ethereum Classic (ETC) a “scam.”
Charles Hoskinson, a co-founder of Cardano, recently made the claim that the Ethereum Classic crypto project is now a hoax directly on Twitter, a social network popular among crypto enthusiasts.
Hoskinson’s comments come after the Litecoin Foundation and the Ethereum Classic Cooperative announced plans to host a new “PoW Summit” event in Prague this coming September.
In addition, Hoskinson steps in when Bob Summerwill, the ETC Cooperative’s executive director, declines to attend a meeting where the Ergo platform is discussed.
It would seem that Summerwill is the intended target of Hoskinson’s ETC-related accusations. Given that the ETC crypto project enables members to profit from those they recruit but lacks a strategy, creativity, and a unified goal, ADA’s creator has labelled it a fraud.
Hoskinson further by saying that the driving force behind ETC is “anger and toxicity.” Hoskinson continues his diatribe by mentioning Ergo, a next-gen PoW smart contract platform that paves the way for novel financial interaction models.
According to Cardano’s creator, Ergo is everything Ethereum Classic should have been: ambitious, eager to try new things, led by honest people in positions of power, and well-funded for the long haul.
So, it’s unclear if the recent uproar was meant to discredit Ethereum Classic or to draw attention to the Ergo cryptocurrency initiative.
However, the PoW Summit in Prague will also include other prominent figures in the cryptocurrency sector, including Charlie Shrem, Jameson Lopp, Litecoin creator Charlie Lee, and Custodia Bank’s Caitlin Long.
However, Ethereum Classic (ETC) ranks 25th and has a market worth of over $2.5 billion. As of this writing, one ADA is worth $0.37, down 6% from a month ago. However, the price of ETC has decreased by 8% from the previous month to $18.
It’s important to note that ADA trades at double the volume of ETC every day. In fact, in the previous 24 hours, ADA has seen approximately $150 million in trading activity, whereas ETC has seen just $77.5 million.