Altcoins, Cardano, Cryptocurrency, Ethereum (ETH), News

Ethereum Influencer David Hoffman Calls Cardano A Blatant Scam

David Hoffman, the co-owner of ‘The Bankless’ podcast, stirred some controversy in the cryptocurrency community lately when he said that Cardano is essentially a ‘blatant scam’. Through this comment, he not only reignited previous hostilities with the world’s second-biggest cryptocurrency, Ethereum but also drew the ire of Cardano’s creator and lead innovator himself, Charles Hoskinson. As of the time of this writing, ADA is currently the 6th largest cryptocurrency in terms of market capitalization, with a price of $1.20.

Hoskinson replied via a tweet that Cardano has gained a particular sort of reputation in the cryptocurrency industry and that comments like the one made by Hoffman are not at all uncommon.

Hoskinson fires back

A little while ago, Charles Hoskinson had made it clear that he is not really bothered with the price of ADA and its fluctuations, as he would much rather focus on constantly developing the technical aspects of his project. He even went as far as to say that the Cardano project is his life’s work and that he is treating it with the utmost seriousness and ambition.

In response to David’s comments, Hoskinson replied that the former’s views are ‘extremely baseless’. He further tweeted that “the fact that such a large number of these so-called ‘podcasters’ are willing to bash Cardano and what I am trying to do is actually extraordinary. It is one thing to be a sceptic. However, it is another thing entirely to view us as criminals and scammers. If anyone is wondering why crypto may still be viewed with hesitation in 2021, then this is the reason”.

No smart contracts yet for Cardano

Some believe that the spark that reignited the feud between Ethereum and Cardano has somewhat to do with the inclusion of smart contracts.

Hoffman made it clear that when it comes to the so-called ‘Ethereum killers’, Cardano is not on the list of contenders. While discussing the EIP (Ethereum Improvement Proposal) 1559, David provided details on Ethereum whilst simultaneously discussing what Cardano had to offer. “Cardano has no smart contracts yet, nor is there any application, app layer, assets, and there isn’t even any trading on UniSwap. It is for these reasons that I remain sceptical of Cardano”, Hoffman stated.

Furthermore, Hoffman did also praise Polkadot (DOT), saying that it has a better chance of taking on Ethereum than Cardano does. He also slightly insulted Ripple during the podcast, citing the company’s alleged unethical techniques as reasons for doing so.

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