Ethereum Classic (ETC) Rises +230% – Cardano Boss Says It’s Dead!

Some Ethereum miners have started mining on Ethereum Classic, which is a Proof of work (PoW) consensus chain, in anticipation of The Merge event. This is mainly due to its ability to accommodate Ethereum miners, its limited supply and its low hash rate.

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The channel’s native corner, ETC, also appreciated. ETC’s price rose almost 230% between mid-July and mid-August, and the crypto held onto a good chunk of its gains despite the recent drop in Bitcoin and Ethereum.

The ETC was trading at $35 on Thursday when European markets opened, more than 157% above its July low.

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Charles Hoskinson thinks Ethereum Classic is an empty shell!

1️⃣ Charles Hoskinson: fuds ETC 🤬 2️⃣ ETC Army: gives proper response 🖕 3️⃣ Charles Hoskinson: people attacking me 😭 4️⃣ @ETCCooperative: be nice, ETC Army! 🤦‍♂️ In a decentralized ecosystem we defend our investments! Like they do it in #Bitcoin! 💪 https://t.co/kQEjEl6ctx

Charles Hoskinson criticized the chain, ETC despite its recent rise, arguing that ETC investments are not always successful.

In a statement on Tuesday, the inventor of Cardano criticized the community, ETC for allegedly puts money before the structural evolution of the channel in its early years.

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Charles, who is a co-founder of Ethereum, said the community failed the chain by ignoring the importance of system engineers in their quest for immediate gains.

After the creation of ETC, Charles commented: “ I instantly joined because I thought Ethereum holders deserved to have a choice between the original chain and the new chain. He said that despite significant investments in the growth of the chain, the community has decided to maintain the status quo by focusing almost entirely on buying and selling tokens.

In sum, Charles thinks Ethereum Classic is purely speculative and not really a platform driven by blockchain development like Ethereum.

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