Cardano founder Charles Hoskinson recommended Ergo to miners, while Ethereum Classic has dropped 13% since Sept. On the other hand, Ethereum founder Vitalik Buterin is empowering the ETC mining community.
Hoskinson said Ergo, Ethereum Classic is down 13%
cryptocoin.com As you follow, Charles Hoskinson suggested that Ethereum miners switch to Ergo. After that, Ethereum Classic (ETC) has dropped 13.33% since Sept. ETC was trading at $41.52. However, it fell 19.73% in half a day to as low as $33.31 on September 6th. It rose rapidly by 8% in the following hours. It is trading at $36.77 at the time of writing.
As the crypto community gets closer to The Merge, eyes have turned to all Ethereum alternatives, including ETC. Both Hoskinson and Buterin share their views on where Ethereum miners should turn once the Merge is complete.
Cardano founder: ETC is a dead project!
Hoskinson posted to invite Ethereum miners to mine Ergo on September 6.
If you're into proof of work, I'd recommend checking out @ErgoFoundation. Ergo is one of the few coins in the PoW space still innovating and has a great community.
— Charles Hoskinson (@IOHK_Charles) September 5, 2022
Meanwhile, Cardano inventor shared his views on ETC yesterday. Hoskinson said that ETC is a dead project with no purpose or really necessary argument to exist.
The Cardano inventor had previously proposed the implementation of a decentralized treasury and the establishment of a development fund for ETC. His proposal changed the ETC block reward allocation to transfer some of it to the treasury. The ETC community turned down the offer as they did not want to be deducted from their rewards, which Twitter user Maximalist.etc called a “20% miner tax”. “ETC still makes me sad about what could happen,” Hoskinson said.
Vitalic Buterine and ETC
Shortly after the Merge calendar was released, ETC surged over 150% throughout the month of July. On August 23, a Twitter poll was conducted by node operator crCptovium. The survey asked which PoW coin Ethereum miners would turn to after the Merge was completed. It asked participants to choose between ETC, Ergo, Ravencoin and FLUX.
Ergo was the clear winner of the poll, receiving 45.5% of all votes. FLUX and Ravencoin placed second and third with 27.6% and 19% of the votes, respectively. ETC took last place with only 8% of the votes. However, Vitalik Buterin, the founder of Ethereum, responded to the survey results and spoke fondly of ETC. In this context, Buterin made the following statement:
A very welcoming community. I think they will definitely welcome Proof of Work fans. If you like Proof of Work, you should use Ethereum Classic. This is a totally good Blockchain.
