Charles Hoskinson, the founder of Cardano (ADA), has criticized Ethereum Classic (ETC) on Twitter, claiming that it is now a “scam” with no purpose other than to let insiders dump their holdings on unsuspecting investors. Previously working with ETC, Hoskinson stated that the project has “no roadmap, innovation, team, or vision,” and is filled with “anger and toxicity.” His comments have sparked a debate in the cryptocurrency community about the legitimacy of ETC and the responsibilities of developers and insiders in the industry. Hoskinson believes Ergo, a cryptocurrency he is currently involved with, is a better choice for investors due to its clear vision and a roadmap for the future.
Hoskinson’s comments have also addressed the importance of security in the hardware wallet space. Following the recent Ledger controversy, Hoskinson suggests that open-source software audited by numerous sources regularly is crucial in ensuring transparency and identifying vulnerabilities. He also emphasizes the importance of simplicity in security, suggesting that a smaller hardware wallet footprint reduces the attack surface. Additionally, non-updateable firmware is crucial in ensuring attackers cannot exploit any vulnerabilities discovered after the release of the hardware wallet. Hoskinson reminds users that hardware wallets are designed to keep private keys in one place and maximize personal security, not for daily use or an equivalent user experience.
About the author - J-S Tremblay
I've been involved in the cryptocurrency world since 2016 and trading since 2019. I started Moon and Lambo in 2021. I'm passionate about crypto and love to share my knowledge. I hate bankers and I hope that cryptocurrency will change the financial world for the better. View full profile...
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