Charles Hoskinson took to Twitter to refute the claims of the the Bankless podcast co-owner, David Hoffman, that Cardano is a ‘scam.’ The IOHk official credited the extreme and baseless views for digital asset’s stellar performance in the past few months. He wrote,
It’s extraordinary. Every day, so many of these Podcasters feel comfortable calling Cardano a “blatant scam.” It’s one thing to say you’re skeptical. It’s another to call us criminals. This is crypto in 2021. Figure out why so many people want nothing to do with it.
Apart from attracting Hoskinson’s wrath, Hoffman’s comments triggered the subject of competition between Cardano and Ethereum. It comes as the former has been making key progress in introducing smart contracts to its platform.
While speaking to the famous Scott Melker, the podcaster made arguments in favor of Ethereum updating investors with a big decision, especially the new ETH improvement proposal. By implementing a more predictable and stable gas fee mechanism, the proposal will improve the wallet UX. However, it has faced growing criticism from miners as it features a deflationary proposal that is likely to cut their income. Hoffman said,
Cardano doesn’t even have smart contracts; I’m very skeptical of Cardano. There is no application there; all you can do is a stake and maybe send. There is no app layer, and there are no assets, there’s no trading, no UniSwap. I will put on my very skeptical hat and call Cardano perhaps a blatant scam.
On the other hand, during his interview, he was quick to praise the performance of another competitor known as Polkadot, arguing that it was a viable option for investors as it does not use made-up marketing like Cardano.