Charles Hoskinson Slams Ethereum Classic as a Scam Project, Sparking Controversy

In a series of scathing remarks on Twitter, Cardano (ADA) founder Charles Hoskinson unleashed a torrent of criticism against Ethereum Classic (ETC), branding it a scam project designed to deceive unsuspecting investors. Hoskinson’s comments have sparked a heated debate within the cryptocurrency community, shedding light on the ongoing rivalry between these two prominent blockchain networks.

Taking to Twitter on May 19, Hoskinson voiced his disdain for ETC, stating, “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.” He went on to accuse the project of lacking a clear roadmap, innovation, team, or vision, and described it as being characterized by anger and toxicity.

ETC is now a scam and it’s 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…

— Charles Hoskinson (@IOHK_Charles) May 19, 2023

Hoskinson’s strong language suggests a deep-seated animosity between the Cardano and Ethereum Classic camps. He further expressed his disappointment in the ETC Cooperative’s decision not to invite Ergo (ERG), another blockchain project, to a Proof of Work summit organized by the cooperative and the Litecoin Foundation. According to Hoskinson, Ergo offers more innovation, purpose, ethical leadership, and funding for the future, in stark contrast to what he perceives as the shortcomings of ETC.

The ETC Cooperative Director, Bob Summerville, defended the network’s decision, citing the history between the two blockchains as a key factor. While the details of their past interactions remain undisclosed, it is evident that there is a contentious relationship between the two entities.

This is not the first time Charles Hoskinson has publicly criticized rival cryptocurrency projects. In the past, he referred to the XRP community as toxic and petty, and famously labeled Ethereum as the “Hotel California of crypto,” implying that once you join, it’s nearly impossible to leave.

The confrontational nature of Hoskinson’s remarks reflects the competitive landscape within the cryptocurrency industry, where projects vie for market dominance and investor attention. As the industry matures, it is crucial for leaders and developers to focus on collaboration and constructive dialogue, rather than resorting to public disputes that could undermine trust and hinder the progress of the overall ecosystem.

While Hoskinson’s remarks have certainly ignited controversy and drawn attention to the ongoing rivalry between Cardano and Ethereum Classic, it remains to be seen how these comments will impact the perception and development of both projects. As the crypto community navigates through these tensions, it is essential to remember the importance of respectful discourse and fostering an environment conducive to innovation and progress.