Charles Hoskinson claimed that Ethereum Classic (ETC) is a dead crypto project, which has no purpose.
Charles Hoskinson is the founder of Cardano blockchain. Hoskinson launched Cardano blockchain as a rival to Ethereum blockchain in 2017, with his developer team IOHK. It is worth noting that Hoskinson is one of the co-founders of the Ethereum blockchain but he left Ethereum because of his plan to use Ethereum as a commercial blockchain network, which was not supported by Vitalik Buterin.
As the whole crypto industry knows very well that Ethereum (ETH) blockchain is going under a new development work “TheMerge”. After the successful completion of “TheMerge”, the Ethereum blockchain will run on Proof-of-stake consensus, which will be possible on 15 September.
As we know, the Proof-of-stake model of blockchain doesn’t allow crypto mining, instead allows staking, so the majority of the miners are shifting to Ethereum Classic (ETC) Blockchain. In the past 3 months, the price of ETC coins surged by around 60%.
During a Twitter discussion, an ETC supporter claimed that Hoskinson wants to turn miners toward ETC. Hoskinson responded to that tweet and confirmed that he or anybidy is not backing ETC because ETC is a dead project which has no purpose.
Through the tweet, we can see that Hoskinson is still in pain because of this situation of ETC because ETC was the actual Ethereum blockchain and he was willing to bring the use of the ETC network as a commercial-level crypto project.
The current ETC was actual ETH and the current ETH is a forked new coin of the Ethereum Classic blockchain. Due to some kind of bug issue, the Ethereum team introduced a forced fork in the Ethereum blockchain to give birth to a new coin.