Bitcoin News and Finance
Cardano’s Charles Hoskinson Says Ethereum Classic Now a ‘Scam’ Skip to main content

Cardano’s Charles Hoskinson Says Ethereum Classic Now a ‘Scam’

Sleeping Bitcoin Wallet Awakens: $3.7M Worth of BTC Suddenly Moves After Close to 12 Years of Dormancy 

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

The POW Summit

According to Cardano founder Charles Hoskinson, the decentralized computing platform Ethereum 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, Hoskinson, himself one of the co-founders of Ethereum, also 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 Ergo is going to be represented at the upcoming Proof of Work (POW) Summit. Summerwill then attacked Ergo Foundation for ditching “their own 60K follower account to squat on stolen goods from Charles.”

As explained on its official website, Ergo is described as “a next-generation PoW smart-contract contract platform that enables new models of financial interaction.” The platform is said 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 also doubled down on his belief that Ergo was not only handed stolen property by Hoskinson but was also complicit in hurting the ETC community.

However, 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.

“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 continues to innovate, has a purpose, good ethical leadership, and funding for the future,” Hoskinson said in his response.

Although some followers of Ergo and Hoskinson on Twitter 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 crypto industry’s biggest names. Some 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.

What are your thoughts on this story? Let us know what you think in the comments section below.

Comments

Post a Comment

Popular posts from this blog

Custodial Lightning Network Service Attack Discovered by LN ‘Newbie’ — Hacker Strikes 6 LN Custodians

On September 18, a Redditor posted to the r/bitcoin forum and explained how he discovered a way to “attack [the] lightning Network’s custodial services.” The Reddit account dubbed “Reckless Satoshi” wanted to figure out if a “discrepancy between real routing fees and service’s transaction fee can be exploited for a profit.” The researcher disclosed that he wanted to see how large the damage could be and said “it is bad.” 6 Lightning Network Custodial Services Attacked, Researcher Discloses Findings to Offenders Prior to Public Disclosure A Redditor called Reckless Satoshi published a disclosure post on r/bitcoin this past Saturday and disclosed how he had found a vulnerability with routing fees and some of the Lightning Network’s custodial services. The research attack was done in good faith and after it was complete he disclosed the bugs to the offending services before publishing his findings. Reckless Satoshi used the Lightning Network (LN) attack on six different services incl
Post a Comment
Read more

Axie Infinity Down 40% Since Last Week’s Price High, Protocol Revenue Outshines Competitors

Last week, the game token leveraged within the Axie Infinity gaming universe skyrocketed to all-time highs, while other crypto markets remained extremely lackluster. During the last seven days, Axie Infinity’s platform token has dropped significantly in value shedding more than 12%. Meanwhile, the game platform’s smooth love potion token has slid over 8% over the last 24 hours. Axie Infinity Down More Than 40% Since All-Time High Not too long ago, the axie infinity (AXS) token was a topical conversation because it reached an all-time high on July 15. At the time, AXS managed to capture $28.93 per unit and since then it has shed 12.8% during the last seven days. The axie infinity (AXS) token is used within the blockchain-based game that involves battles between token-based creatures called “Axies.” AXS is used for the game’s governance system as well as other actions within the game. At the time of writing axie infinity (AXS) is exchanging hands for $16.70 per coin. AXS/USD on Ju
Post a Comment
Read more

Play-to-Earn Game From Polker (PKR) Exchange Listing – Endorsed by Akon

The Play-to-Earn NFT based Polker.Game ‘s native token $PKR has been officially listed on the popular centralized exchange BitMart. Polker.game has been in the spotlight recently as Akon, the American R&B superstar and record producer gave his official endorsement of polker stating that the “game is revolutionary” and that Polker is “hands down.. the best play to earn, NFT game in the space.”. With the BitMart listing and celebrity endorsement from Akon, Polker is perfectly positioned to become a major player in the Play-to-Earn league. Watch Akon’s Video Here What is Play-to-Earn? Although not a new concept, play-to-earn has become a trending term due to the popularity of the NFT game AXIE infinity. In the past, previous play-to-earn games have also achieved success – however, thanks to the huge amount of development in the blockchain space in recent years the gaming experience is now massively improved. Play-to-Earn games are essentially free to play and open to anyone and
Post a Comment
Read more

China to Crack Down on Copyright Infringement Through NFTs

Authorities in China are going after creators of digital collectibles based on other people’s works of art, the use of which was not authorized. The government offensive is part of a campaign to combat online copyright infringement and piracy with the participation of several departments. Regulators in China Move to Strengthen Copyright Supervision of Online Platforms The National Copyright Administration of China (NCAC) has recently launched a campaign against copyright infringement and piracy on the internet, together with the Ministry of Industry and Information Technology, the Ministry of Public Security, and the State Internet Information Office of the People’s Republic. A major objective of the initiative is to improve copyright supervision of online businesses by investigating cases involving the sale and distribution of infringing products on short video, live broadcast and e-commerce platforms, and promptly dealing with infringing content, the agency announced in a press r
Post a Comment
Read more
Blogarama - Blog Directory