Cardano (ADA) founder Charles Hoskinson has claimed on Twitter that Ethereum Classic (ETC) is now a “scam” with “no purpose other than to allow insiders to dump their holdings” to unsuspecting investors. Hoskinson, who previously worked on ETC, said the project has “no roadmap, innovation, team or vision” and only “anger and toxicity.”
Cardano founder supports ethical alternative to fraudulent operation
Hoskinson’s comments came in response to a post on Twitter from the Proof of Work (POW) Summit and have caught the attention of the cryptocurrency community. Many have questioned the timing of Hoskinson’s comments, given ETC’s recent surge in price and popularity.
According to Hoskinson, ETC was built on years of hard work and marketing by Input Output Global (IOG), a technology company that excels in blockchain structural engineering and research, and it is unethical to impose a project on those followers that is now a scam.
Furthermore, Hoskinson believes that Ergo, which he is currently involved in, should be what ETC is like. Ergo is a cryptocurrency that focuses on improving the limitations of blockchain technology, such as scalability, interoperability, and security.
The Cardano founder also claimed that Ergo continues to innovate and has a purpose, good ethical leadership, and future funding. He believes that Ergo is a better choice for investors seeking a cryptocurrency with a clear vision and future roadmap.
Hoskinson’s comments sparked a debate in the cryptocurrency community about the legitimacy of ETC and the responsibilities of developers and industry insiders. While some criticized Hoskinson’s remarks, others praised him for speaking out against what he considered to be unethical practices.
Hoskinson shares tips for “secure” crypto storage
In response to the recent Ledger controversy that has sparked a debate among cryptocurrency users about the importance of security in the hardware wallet space, Cardano founder Charles Hoskinson shared his thoughts on what users should look for when choosing a hardware wallet.
Hoskinson stressed the importance of open source software being regularly audited by numerous sources. This ensures that the software is transparent and that potential vulnerabilities can be quickly identified and addressed.
Furthermore, he suggested that simplicity is key when it comes to security. Designing a hardware wallet that takes up as little space as possible can reduce the attack surface, making it more difficult for hackers to find vulnerabilities.
Furthermore, Hoskinson noted that non-updatable firmware is important when companies make specific commitments to their security model. This ensures that attackers cannot exploit any vulnerabilities discovered after the hardware wallet is released, and he suggested that decentralizing the update process would greatly improve the security of the hardware wallet space.
The Cardano founder also reminded users that people buy hardware wallets to maximize personal fund security, not for daily use or a user experience equivalent to a hot wallet. Hardware wallets are an extreme example of self-custody, designed to ensure that private keys are kept in a location on hardware that is difficult to tamper with.
