Charles Hoskinson, CEO and founder of IOHK, the company behind the Cardano blockchain, has criticized Ethereum Classic (ETC) altcoin management for not inviting the ERGO token to the Proof-of-Work (PoW) conference.
Hoskinson, who is also one of the co-founders of Ethereum, accused ETC of being a scam and having no vision or innovation.
Cardano Founder: "Ethereum Classic (ETC) Is Now A Scam"
He claimed that ETC has no roadmap, team or purpose and its sole purpose is to deceive innocent investors with false hopes of a bright future.
Hoskinson tweeted, "ETC is now a scam and its sole purpose is for insiders to deceive people they hire in hopes of a magical future that will never come. No roadmap, innovation, team or vision. Just anger and toxicity."
He also criticized the ETC Twitter account for being unethical and misleading his followers by promoting a project he saw as a scam. Hoskinson said ERGO, a PoW-based smart contract platform that he says supports advanced features like zero-knowledge proofs and oracle pools, is what ETC should be and deserves more recognition and support from the PoW community.
Bob Summerwill, one of the leaders of the Ethereum Classic community, answered “absolutely no” whether a follower would be invited to the Proof of Work summit by ERGO.
The ETC community had developed deep hostility towards Ergo after Hoskinson reorganized his previous Twitter account, which had more than 600,000 followers, for ERGO last year.
*Not investment advice.
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He's not wrong. ETC is a scam that is just used as a pump and dump for VCs. I've only been in crypto for about 2 years and I've long known that much