{"id":259923,"date":"2022-09-06T12:40:09","date_gmt":"2022-09-06T11:40:09","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=259923"},"modified":"2022-09-06T12:40:00","modified_gmt":"2022-09-06T11:40:00","slug":"charles-hoskinson-calls-ethereum-classic-dead-project-with-no-purpose","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/charles-hoskinson-calls-ethereum-classic-dead-project-with-no-purpose\/","title":{"rendered":"Charles Hoskinson calls Ethereum Classic &#8216;dead project with no purpose&#8217;"},"content":{"rendered":"<p>Cardano (<a href=\"https:\/\/cryptoslate.com\/coins\/cardano\/\">ADA<\/a>) founder Charles Hoskinson said\u00a0Ethereum Classic (<a href=\"https:\/\/cryptoslate.com\/coins\/ethereum-classic\/\">ETC<\/a>) is a &#8220;dead project with no purpose or compelling argument to exist outside of spite.&#8221;<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">I love how a sustainable development fund turns into a miner tax. ETC still gives me sadness for what could have been. It&#39;s a dead project with no purpose or real compelling argument to exist outside of spite. <a href=\"https:\/\/t.co\/JxUGyLYDTu\">https:\/\/t.co\/JxUGyLYDTu<\/a><\/p>\n<p>&mdash; Charles Hoskinson (@IOHK_Charles) <a href=\"https:\/\/twitter.com\/IOHK_Charles\/status\/1566899375904890888?ref_src=twsrc%5Etfw\">September 5, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Hoskinson gave this response to allegations that he wanted to exploit ETC miners. An Ethereum Classic supporter on Twitter had <a href=\"https:\/\/twitter.com\/SETHMCCORMACK9\/status\/1566887792893902850?s=20&t=A2rjnW0KCsB8NNsSj8oZuQ\">accused<\/a> Hoskinson of trying to milk the network after he proposed a 20% miner tax.<\/p>\n<p>Hoskinson recently <a href=\"https:\/\/ethereumclassic.org\/blog\/2020-08-13-core-devs-call-treasury-discussions-initial\"><span class=\"s4\">proposed<\/span> <\/a>a decentralized treasury protocol and recommended setting up a development fund for ETC. The proposal would change ETC block rewards allocation, with a portion of the reward going to the decentralized treasury protocol.<\/p>\n<p>ETC miners rejected this idea because it cut into their rewards.<\/p>\n<p>Now that a user has brought back the idea in criticism of Hoskinson, the Cardano founder did not miss the chance to clarify things and took a shot at ETC.<\/p>\n<p>According to Hoskinson, &#8220;a sustainable development fund&#8221; was interpreted to mean &#8220;miner tax,&#8221; adding that &#8220;ETC still gives me sadness for what could have been.&#8221;<\/p>\n<p>Hoskinson's take on ETC is not entirely surprising, given his history of criticizing other blockchain networks. The Cardano founder previously <span data-preserver-spaces=\"true\">compared Solana (SOL) to an old Nintendo console.<\/span><\/p>\n<h2>Is ETC a dead project?<\/h2>\n<p>While Hoskinson thinks ETC is a dead project, several crypto firms, like Grayscale and mining giant <span class=\"s4\">AntPool, would disagree as they have made substantial investments into the network.<\/span><\/p>\n<p>Grayscale's Ethereum Classic Trust assets under management are around $490 million, while AntPool invested $10 million to support the blockchain network's ecosystem.<\/p>\n<p>Apart from that, Ethereum (<a href=\"https:\/\/cryptoslate.com\/coins\/ethereum\/\">ETH<\/a>) co-founder Vitalik Buterin urged miners to migrate to ETC because it is a &#8220;fine chain&#8221; with a &#8220;welcoming community.&#8221;<\/p>\n<p>Meanwhile, ETC has been one of the best-performing digital assets in recent weeks. The digital asset has risen by over 25% in the last 24 hours to trade at above $40.<\/p>\n<h2>Hoskinson recommends Ergo for proof-of-work miners<\/h2>\n<p>Charles Hoskinson has <a href=\"https:\/\/twitter.com\/IOHK_Charles\/status\/1566911407957938179?s=20&t=dQRw8yuyXKwtxH08HXltXA\"><span class=\"s4\">recommended<\/span><\/a> Ergo (<a href=\"https:\/\/cryptoslate.com\/coins\/ergo\/\">ERG<\/a>) blockchain for proof-of-work (PoW) users saying it is &#8220;one of the few coins in the PoW space still innovating and has a great community.&#8221;<\/p>\n<p>According to the project's <a href=\"https:\/\/ergoplatform.org\/en\/\">website<\/a>, the blockchain network is a decentralized smart contract platform that ensures the economic freedom of ordinary people.<\/p>\n<p>Meanwhile, the PoW network has urged Ethereum miners to <a href=\"https:\/\/ergoplatform.org\/en\/blog\/Ethereum-Mining-Community-and-GPU-Miners-The-Case-for-Ergo-After-The-Merge\/\">pivot<\/a> to its blockchain after ETH migrates to proof-of-stake.<\/p>\n<p>A recent Twitter poll <a href=\"https:\/\/cryptoslate.com\/most-pow-miners-intend-to-mine-ergo-not-ravencoin-or-ethereum-classic-post-merge\/\">revealed<\/a> that most Ethereum miners intend to mine Ergo after the Merge.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Cardano (ADA) founder Charles Hoskinson said\u00a0Ethereum Classic (ETC) is a &#8220;dead project with no purpose or compelling argument to exist outside of spite.&#8221; I love how a sustainable development fund turns into a miner tax. ETC still gives me sadness for what could have been. It&#39;s a dead project with no purpose or real compelling [&hellip;]<\/p>\n","protected":false},"author":720,"featured_media":259999,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[61713,2376,29],"tags":[77724,78032,77426,76128],"post_folder":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.9 (Yoast SEO v21.9.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Charles Hoskinson calls Ethereum Classic &#039;dead project with no purpose&#039;<\/title>\n<meta name=\"description\" content=\"Cardano founder Charles Hoskinson has described Ethereum Classic as a dead project, recommending Ergo to his community.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptoslate.com\/charles-hoskinson-calls-ethereum-classic-dead-project-with-no-purpose\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Charles Hoskinson calls Ethereum Classic &#039;dead project with no purpose&#039;\" \/>\n<meta property=\"og:description\" content=\"Cardano founder Charles Hoskinson has described Ethereum Classic as a dead project, recommending Ergo to his community.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/cryptoslate.com\/charles-hoskinson-calls-ethereum-classic-dead-project-with-no-purpose\/\" \/>\n<meta property=\"og:site_name\" content=\"CryptoSlate\" \/>\n<meta property=\"article:published_time\" content=\"2022-09-06T11:40:09+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-09-06T11:40:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/09\/image_2022-09-06_163710666.png\" \/>\n\t<meta property=\"og:image:width\" content=\"720\" \/>\n\t<meta property=\"og:image:height\" content=\"378\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Oluwapelumi Adejumo\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:site\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Oluwapelumi Adejumo\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/cryptoslate.com\/charles-hoskinson-calls-ethereum-classic-dead-project-with-no-purpose\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/cryptoslate.com\/charles-hoskinson-calls-ethereum-classic-dead-project-with-no-purpose\/\"},\"author\":{\"@type\":\"Person\",\"@id\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/#person\",\"name\":\"Oluwapelumi Adejumo\",\"url\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/\"},\"image\":{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/#authorimage\",\"url\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2025\/12\/profile-photo-oluwapelumi-adejumo-300x300.jpg\",\"contentUrl\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2025\/12\/profile-photo-oluwapelumi-adejumo-300x300.jpg\",\"caption\":\"Oluwapelumi Adejumo\"},\"jobTitle\":\"Senior Reporter\",\"description\":\"Oluwapelumi values Bitcoin's potential. 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