Charles Hoskinson called Ethereum Classic a "dead project"

Cardano founder Charles Hoskinson criticized Ethereum Classic (ETC), noting that the projectdid not convert hispotential.

During the discussion of the prospects for cryptocurrency mining using GPUs after Ethereum's transition to the Proof-of-Stake (PoS) algorithm, one of the users recalled that Hoskinson proposed to introduce a 20% "tax" on Ethereum Classic miners.

In response, he retorted that we are talking about a fund for the sustainable development of the network. The commentators added that these funds are managed in a decentralized manner by the community.

"ETC still makes me sadIt's a dead project that doesn't havegoal or really strong arguments to exist, except for evil," Hoskinson said.

What is Ethereum Classic and ETC cryptocurrency?

In August, JPMorgan analysts assumed that Ethereum Classic would be one of the main beneficiaries of the influx of miners after the Ethereum merger.

The largest mining pool in the Ethermine networkrecommended that users after The Merge switch to mining other cryptocurrencies, including ETC. Bitmain-affiliated AntPool made a similar offer.

A group of Ethereum miners led by Chandler Gohintends to launch a fork of the network, which will continue to work on the Proof-of-Work algorithm. Bob Summerville, head of the ETC Cooperative behind the development of the Ethereum Classic ecosystem, approached them with a proposal to connect to the cryptocurrency network after the merger.

"ETC hasn't grown since it was born.Over the past five to six yearsit froze, stagnated and could not create any ecosystem.It is quite possible that ETC will remain a giant child," the developers of the fork project said in a response.

Recall that in early September, the Ethereum Classic hashrate updated its historical maximum at around 46 TH/s. The indicator is approximately 19 times less than the capacity of the ether network.

The world after The Merge: whether to wait for the rise in the price of Ethereum Classic

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