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Hosky Is Spilling How Eth’s Borrowing Cardano Concepts Sans Credit 🦇🖤

Charles Hoskinson has accused Ethereum of adopting ideas pioneered by Cardano without acknowledgment.
The Cardano co-founder made the claim following a proposal by Ethereum researcher Toni Wahrstätter to bring native UTXOs to the network as a way of cutting long-term state storage for payment transactions.

Ethereum Is Revisiting Cardano’s Work 🦇

According to Hoskinson, Wahrstätter’s research closely mirrors concepts Cardano has been developing since its launch.

“It’s literally a crime in the Ethereum inner circle to mention Cardano,” he wrote on X. “EUTXO is the biggest innovation of the smart contract world and Ethereum cannot mention it as they literally try to copy it.”

Wahrstätter’s proposal describes a payment model that stores only a small “spent” marker in Ethereum’s state while keeping the rest of the payment data in blockchain history. According to the research, this approach could reduce the permanent state required for payment workloads by as much as 99.8% without abandoning Ethereum’s account-based architecture.

The proposal borrows the one-time payment structure used by Bitcoin’s UTXO model while allowing Ethereum accounts and smart contracts to keep on operating. It also relies on the proposed EIP-8141 transaction framework to let users spend UTXOs without first holding ETH for gas fees.
Hoskinson followed up his post on X with a livestream on the same platform, where he read a tweet by Wahrstätter announcing the proposal and pointed out that it made no reference to Cardano despite his network spending years solving many of the engineering problems that Ethereum is now exploring.

“For ten years, we’ve worked on extended UTXO, smart contracts on UTXO,” he said. “We wrote a paper called Chimeric Ledgers to show how to run these two systems in parallel.”

He argued that Ethereum developers had in the past dismissed UTXO-based smart contracts as impractical before now putting similar ideas on their long-term roadmap.

Long-Running Rivalry Returns to the Spotlight 🌙

During the livestream, Hoskinson expanded his criticism beyond Wahrstätter’s proposal, claiming that Ethereum has been regularly adopting ideas after dismissing them when they first appeared on Cardano.

Some of the areas he claimed such behavior had happened in included Cardano’s governance system and treasury model, which he said the Ethereum Foundation had been forced to drift toward after losing staff and money.

He also suggested that Ethereum would look to revisit Cardano’s work on privacy and post-quantum cryptography through IOHK’s privacy-focused blockchain project, Midnight, as well as its early embrace of formal verification tools like Lean. According to him, Ethereum will eventually adopt both without acknowledgment as well.

This is not the first time Hoskinson has used a livestream to vent about how he or Cardano is being treated. In June, he announced plans to move the Cardano community away from X and onto Discord, saying the social platform had become dominated by hostility and personal attacks. However, he said that he would keep using X for livestream broadcasts, the exact same format he used today to make his case against Ethereum. 🖤


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Altcoin Market Drowning In Brutal Underperformance As 40% Hover Near Their ATL 🖤🕸️

The bear cycle is dragging altcoins down harder than usual right now 🖤 with bitcoin stuck under $60,000 pressure keeps building fast on everything else.

Altcoins Hitting Extreme Lows 🌑

A fresh report from CryptoQuant highlighted that around 40% of altcoins sit near their all time lows which shows just how rough things got for most projects. Analyst Darkfost built a chart tracking those trading below 25% of their peaks yet ended up spotting at least 40% hugging their bottoms anyway.
As bitcoin slips further below that $60,000 line the share of altcoins near all time lows actually spiked to 45% last month. Low liquidity plays the biggest role here even though thousands of tokens launch daily CoinMarketCap lists 53.5 million cryptocurrencies total with about 60,000 new ones appearing every single day. Most of these are set to fail fast because fresh money just is not flowing in enough.
Without strong incoming liquidity the majority of these cryptos are doomed to fail the analyst noted.

Liquidity Drought Hits Hard 💀

Investors really need to pick projects carefully now since only a handful will survive this bear stretch and stay relevant. Those comments line up with what CryptoQuant founder Ki Young Ju said back in early December 2024 when altcoin vibes felt strong. Back then he pointed out the altseason would not unfold as expected without real new money entering the space and only select assets managed big moves while liquidity shortages limited everything else. That scarcity has grown even tighter this season pushing most altcoins into deeper underperformance.


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Bitcoin Hasn’t Fully Surrendered Its Grip Yet, Oracles Hint At Bleaker Dips Ahead 🦇🥀

Things aren’t exactly stacking up in Bitcoin’s favor lately, but surprisingly the asset is holding its ground better than many anticipated for now 🖤.

Capitulation Far From Over 💀

Just consider the fresh strikes between Iran and the US that restarted tensions, MicroStrategy dumping over 3500 BTC, signs of serious miner exhaustion, AI pulling funds away from crypto, those Bitcoin ETFs losing over 8 billion dollars across two months, plus the Fed holding rates firm and yet BTC stays above 60000.
While the coin has shrugged off much of that external weight so far a fresh technical setback just hit. Analyst Ted Pillows flagged that the real bottom still lies ahead based on past cycles and sketched targets dipping below 50000 or even 45000.
Ali Martinez highlighted the rejection at 64000 noting it might spark a sharper short term slide under 60000 or down to a fresh multi year low at 56550.

Asian Demand Flashing Recovery Signals 🌙

Another voice on X known as CW pointed to the Kimchi Premium showing demand returning in Korea after lingering at negative 2 percent for the longest stretch in five years.
The reading has now climbed to negative 0.835 percent hinting that the bearish phase could be nearing its end especially if it crosses into positive territory soon.


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ZEC Teases A Swift Peek Above 500 While Proof Nears Ready 🖤🦇

Zcash shot past the $500 threshold as whispers from founder Zooko spread about tachyon’s formal verification finally proving the shielded pools are free of sneaky counterfeiting tricks. The project sits right on the edge of delivering that math proof which would finally kill the old privacy versus supply check dilemma 🖤

The Orchard Flaw That Sparked Ironwood 🌙

Tachyon dropped fresh updates on verifying the upcoming ironwood shielded pool after a recent vulnerability popped up in orchard. A shielded labs researcher named taylor hornby spotted a counterfeiting issue in orchard during may and though it got patched in a network upgrade everyone agrees it never saw real use. The hidden nature of the bug pushed the community toward building ironwood from a patched orchard base complete with a turnstile that lets users shift funds over while proving nothing shady happened before. Old orchard payments will shut down after the move locking in an upper bound on total zec supply.

Multi Layer Security Push With AI And Proofs 🕷️

Fixing the flaw alone felt insufficient so the team launched a broad verification campaign mixing deep audits frontier ai analysis and formal math checks to lock down ironwood.

Zec climbed from around $410 up to briefly kiss $500 before easing back near $480 which still leaves it almost 20% higher for the week. Trader ardi notes that if price breaks and holds above $480 it could regain steam and push past $500 again.


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