Ethereum Classic is a Dead Project: Cardano’s Charles Hoskinson
The feud between the Cardano founder and the Ethereum Classic community appears to have escalated. After an Ethereum Classic proponent accused Charles Hoskinson of attempting to milk the network following the proposed 20% miner tax, the Cardano founder slammed the entire project.
In the latest tweet, Hoskinson called Ethereum Classic a “dead project” that serves “no purpose” or “real compelling argument” for its existence.
“I love how a sustainable development fund turns into a miner tax. ETC still gives me sadness for what could have been. It’s a dead project with no purpose or real compelling argument to exist outside of spite.”
It is worth noting that the Cardano exec left Ethereum in 2014 over disagreements with regard to the future direction of the project. He has been a strong supporter of Ethereum Classic since the hard fork in 2016. Last year, Hoskinson even joined the Ethereum Classic Cooperative’s Board of Directors.
However, the latest accusations come after the Input Output Global (IOG) CEO proposed a decentralized treasury protocol and suggested the establishment of a development fund for ETC. The proposal would essentially modify ETC block rewards allocation, which did not sit well with many community members. Several miners of the network rejected this idea since it slashed their rewards.
The comment also comes in the backdrop of Ethereum Classic hitting an all-time high record hash rate of 48.82 terra hashes per second (TH/s) this week. The hash rate has grown over 100% in the past year. As a result, ETC managed to book a nearly 20% rally, surging past $40.
This isn’t the first time that the ETC community has brushed his assistance. After the network suffered multiple 51% attacks, Hoskinson expressed his desire to help. But during that time as well, not many in the community were happy with his bailout offer.
As a result, he lamented that despite helping the Ethereum Classic community in the past, he had been treated unfairly by its leadership.
Notably, the Cardano chief also owns the official Ethereum Classic Twitter handle, and he does not plan to return it anytime soon, which has further irked many ETC advocates.
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I’m a journalist who specializes in investigative reporting and writing. I have written for the New York Times and other publications.