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Charles Hoskinson: Ethereum Classic is a dead project

by Chief editor

In a recent tweet, Hoskinson called Ethereum Classic a “dead project” that serves “no purpose” and there is no “real compelling argument” for its existence.

The head of Cardano left the Ethereum project in 2014 due to disagreements over the future of the project. He had been a staunch supporter of Ethereum Classic since the hard fork in 2016. Last year, Hoskinson even joined the board of directors of the Ethereum Classic co-op.

When the CEO of Input Output Global (IOG) proposed a decentralised treasury protocol and proposed a development fund for ETC, many community members didn’t like it, as the innovation would have changed how the reward per ETC block is distributed. Several miners rejected the idea because it reduced their rewards.

Ethereum Classic reached a record hash rate of 48.82 TH/s this week. Over the past year, the network’s hash rate has grown by more than 100%. As a result, ETC managed to achieve a nearly 20 percent increase in price, which broke the $40 mark.

Previously, the ETC community had periodically enlisted the help of Hoskinson. After the network came under several 51% attacks, he expressed a desire to help. But even then, not many in the community were happy with his suggestions.

Thus, Hoskinson believes that despite helping the Ethereum Classic community in the past, the project’s management has treated him unfairly.

Notably, the head of Cardano also has access to the official Ethereum Classic Twitter feed, and has no plans to give it up anytime soon, which also displeases many ETC supporters.

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