Ethereum Classic: a cryptocurrency doomed to disappear?

Only a few days left before the arrival of The Merge of Ethereum (ETH)! However, opinions remain very divided on this long-awaited upgrade. For his part, Charles Hoskinson (founder of Cardano) claims that Ethereum Classic is a dead and aimless project. A response to allegations that he exploited ETC miners.

Cardano Founder Charles Hoskinson Calls ETC a ‘Dead Project’

A quarrel that does not date from today

This is not the first time that Hoskinson reacts when his name or the Cardano project is mentioned. Recently accused of trying to exploit Ethereum Classic miners on Twitter, he does not hesitate to criticize this blockchain platform.

According to the founder of Cardano: “Ethereum Classic is a dead project with no purpose or convincing argument to exist apart from grudge”. In response to the accusations, he also clarified that the 20% tax did not concern minors in any way. Rather, it would be a sustainability fund that would have allowed Ethereum Classic to reach its full potential. Hoskinson even goes so far as to say that ETC has strayed greatly from its main purpose.

As a reminder, Charles Hoskinson was a strong supporter of Ethereum Classic. In 2021, he joined the board of Ethereum Classic Cooperative. Hoskinson is even among the co-founders of Ethereum. In 2014, he left the project due to a disagreement. On September 23, 2017, he officially put the Cardano (ADA) open source blockchain online.

Is the Ethereum Classic chain really doomed?

According to the data, Ethereum Classic reached its highest hash rate this week (at 48.82 terra hashes per second). It is currently trading at $41.

For his part, Vitalik Buterin (CEO of Ethereum) suggests that Ethereum miners will be able to migrate to ETC once The Merge is launched. However, cryptocurrency players remain skeptical about the feasibility of such an operation. The thing is, bringing The Merge ETH online will definitely cause a hard fork across the entire Ethereum network.

“Ethereum Classic is a dead project”… The opinions of crypto market leaders remain very divergent on this point. Free statement by Charles Hoskinson or food for thought? The future will tell !

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