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Charles Hoskinson calls Ethereum Classic ‘dead project with no purpose’

Cardano (ADA) founder Charles Hoskinson stated Ethereum Classic (ETC) is a “dead project with no purpose or compelling argument to exist outside of spite.”

Hoskinson gave this response to allegations that he needed to take advantage of ETC miners. An Ethereum Classic supporter on Twitter had accused Hoskinson of making an attempt to exploit the community after he proposed a 20% miner tax.

Hoskinson not too long ago proposed a decentralized treasury protocol and advisable establishing a improvement fund for ETC. The proposal would change ETC block rewards allocation, with a portion of the reward going to the decentralized treasury protocol.

ETC miners rejected this concept as a result of it reduce into their rewards.

Now {that a} consumer has introduced again the thought in criticism of Hoskinson, the Cardano founder didn’t miss the possibility to make clear issues and took a shot at ETC.

According to Hoskinson, “a sustainable development fund” was interpreted to imply “miner tax,” including that “ETC still gives me sadness for what could have been.”

Hoskinson’s tackle ETC just isn’t fully stunning, given his historical past of criticizing different blockchain networks. The Cardano founder beforehand in contrast Solana (SOL) to an previous Nintendo console.

Is ETC a lifeless project?

While Hoskinson thinks ETC is a lifeless project, a number of crypto companies, like Grayscale and mining large AntPool, would disagree as they’ve made substantial investments into the community.

Grayscale’s Ethereum Classic Trust property underneath administration are round $490 million, whereas AntPool invested $10 million to assist the blockchain community’s ecosystem.

Apart from that, Ethereum (ETH) co-founder Vitalik Buterin urged miners emigrate to ETC as a result of it’s a “fine chain” with a “welcoming community.”

Meanwhile, ETC has been one of many best-performing digital property in latest weeks. The digital asset has risen by over 25% within the final 24 hours to commerce at above $40.

Hoskinson recommends Ergo for proof-of-work miners

Charles Hoskinson has recommended Ergo (ERG) blockchain for proof-of-work (PoW) customers saying it’s “one of the few coins in the PoW space still innovating and has a great community.”

According to the project’s website, the blockchain community is a decentralized sensible contract platform that ensures the financial freedom of odd folks.

Meanwhile, the PoW community has urged Ethereum miners to pivot to its blockchain after ETH migrates to proof-of-stake.

A latest Twitter ballot revealed that the majority Ethereum miners intend to mine Ergo after the Merge.

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